NUF or AS? Which Business Structure to Choose in Norway?
March 24, 2025
What Does an Authorized Accounting Office in Norway Advise Clients During Initial Meetings?
When planning to start a business in Norway, entrepreneurs often face the challenge of choosing the right legal structure. A thorough individual analysis helps determine the best option:
NUF (Norskregistrert Utenlandsk Foretak) – a Norwegian branch of a foreign company
AS (Aksjeselskap) – equivalent to a Polish limited liability company
NUF – Norskregistrert Utenlandsk Foretak
NUF is a Norwegian branch of a foreign company, lacking legal personality, and primarily established for reporting and tax purposes. Registration of a NUF is mandatory for all foreign entities operating in Norway. The responsibilities associated with running a NUF include, among others, employee registration and maintaining accounting records in compliance with Norwegian standards. In recent years, changes have been introduced to align NUF regulations with those of Norwegian AS companies, meaning that NUFs must now meet similar requirements to AS entities.
AS – Aksjeselskap
AS is a Norwegian limited liability company with a minimum share capital requirement of 30,000 NOK. The owner can be one or more individuals or another company. An AS is a legal entity, and its owners have limited liability. The responsibilities of running an AS include maintaining full accounting records, submitting financial statements, and in some cases, appointing an auditor. The owner can employ themselves in the company, granting them the same employment benefits as any other employee.
NUF or AS – Which One to Choose?
The choice between NUF and AS depends on several factors, such as:
The type of contract with a Norwegian client
The nature of the services provided
The duration of the contract
The company’s long-term plans
Foreign companies undertaking short-term contracts in Norway often opt for NUF registration. However, businesses planning long-term operations in the Norwegian market should consider establishing an AS. The minimum share capital for an AS is only 30,000 NOK, making this legal structure more accessible to entrepreneurs. This has, in turn, reduced the attractiveness of NUFs as an alternative to AS companies.
Consult an Expert Before Making a Decision
Before making a decision, it is advisable to consult experts who can analyze your specific situation and recommend the best solution for your company. Novum Økonomi AS provides support in choosing the right business structure as well as comprehensive accounting and advisory services in the Norwegian market.
If you are unsure which business structure to choose in Norway, contact us! Our experts will assess your situation and find the best solution for your company.
