What company form to choose in Norway: NUF vs AS.

September 15, 2025

Over my 13 years of work as an advisor in an authorized accounting office in Norway, I have observed the changing realities for foreign entrepreneurs in this country. More and more Norwegian companies are being established and run by individuals and firms from abroad. At the same time, the Norwegian authorities are changing their approach to branches of foreign companies by introducing registration and reporting requirements, which were previously handled more leniently.

What is NUF?

NUF is a branch of a foreign company operating in Norway without legal personality. This means that the parent company bears full responsibility for its activities.

Key features of NUF:

no requirement for share capital,
obligation to appoint a representative with a permanent or temporary personal number (fødselsnummer, d-nummer),
requirement to maintain accounting and tax reporting in Norway,
obligation to register for VAT once turnover exceeds NOK 50,000,
corporate income tax at 22% if a permanent establishment is created,
obligation to submit financial statements and undergo audit at higher turnover levels.

NUF is often chosen by companies that want to quickly enter the Norwegian market due to an upcoming project. It is very important to pay attention to the provisions of the Treaty between Norway and the company's home country on avoidance of double taxation, which the Norwegian Tax Administration uses as the basis for assessing branch taxation.

What is AS?

AS is a Norwegian limited liability company. It has legal personality, which means that the owners’ liability is limited to the amount of share capital they contribute.

Key features of AS:

required share capital of at least NOK 30,000,
limited liability of the owners,
obligation to keep full accounts and submit annual financial statements,
for larger companies – audit and board of directors required,
strong credibility in the eyes of business partners, banks, and institutions,
prestige and stability for long-term operations.

AS is the preferred form for companies planning a permanent presence in Norway.

NUF vs AS — comparison

Criterion                       NUF                          AS                                
Initial capital        | No requirement             | Minimum NOK 30,000
Liability              | Parent company             | Limited liability
Formalities            | Requires local accounting  | More extensive
Market trust           | May be lower               | Higher prestige
Duration               | Good short-term solution   | Long-term development

How to register a NUF?

Establishing a branch of a foreign company in Norway requires registration with the Brønnøysund Register Centre (Brønnøysundregistrene) and appointing a local representative. Documents confirming the existence of the parent company and its decision to establish a branch are also required. After registration, the branch receives a Norwegian organization number and is subject to the same accounting and tax obligations as other companies in Norway.

How to register an AS?

Registering an AS in Norway requires contributing share capital (minimum NOK 30,000), preparing the company’s articles of association, and registering the company with the Brønnøysund Register Centre. Once the organization number is obtained, the company gains full rights and obligations, including bookkeeping and submitting financial statements.

Summary

NUF is suitable for quickly entering the Norwegian market and testing operations.
AS offers greater stability and trust, making it better for long-term development.

👉 Are you planning to start a business in Norway? Contact our office – we will advise whether NUF or AS is the better choice, and handle registration, accounting, and tax compliance.

📧 anna.korpalska@novum.no

The choice depends on your strategy! And we will support its implementation in Norway!

Author:

Anna Korpalska

Sources:

Graphics: Open AI, ChatGPT