Business accounts: Norway

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

All banks headquartered in Norway are members of the deposit guarantee scheme: it covers up to NOK 2 million per depositor per bank, about $206,900 at the rate of 5 October 2026, rounded up, and pays out guaranteed amounts within 7 working days. The guarantee also covers company deposits, except those of credit and financial institutions and public authorities, according to the Norwegian Banks' Guarantee Fund. A business account is usually opened for a Norwegian company or a company with real activity in Norway.

Deposit guarantee for Norwegian banks abroad

If a Norwegian bank takes deposits through its branches abroad, the guarantee on those deposits is limited to an amount in kroner equal to €100,000, about $112,100. So it matters which part of the bank holds the company's account. Company profit in Norway is taxed at 22%; see our taxes in Norway page.

What the bank will check

• the company's registration and registry extract in Norway, the list of directors and owners;
• passports and proof of address of directors and beneficial owners;
• what the company does, who its clients are and how the business is linked to the country;
• expected volumes, currencies and payment countries;
• source of funds documents for the owners.

How opening works

1. Profile review and choosing a bank that works with such structures.
2. The document file and business description tailored to the bank.
3. The bank's review, often with a video call or a director's visit.
4. Account opening and online banking setup.

A Norwegian company and its management

Most often the account is opened for a Norwegian private limited company. Its minimum share capital is NOK 30,000, about $3,110 at the 5 October 2026 rate, rounded up. The general manager and at least half of the board members must live in Norway, another EEA country, the UK or Switzerland: since 1 July 2023 the law looks at residence rather than citizenship. If the owners live in other countries, we find directors before registration, otherwise the company will not be registered.

A Norwegian bank also checks the managers themselves: they need electronic identification, issued on the basis of a Norwegian national identity number or a number for foreigners. We plan obtaining the numbers together with company registration.

VAT and annual accounts

A company must register for VAT once its taxable turnover in Norway exceeds NOK 50,000 in 12 months, about $5,180. The standard VAT rate is 25%, with reduced rates of 15% and 12%. Annual accounts are filed with the Register of Company Accounts by 31 July, and this deadline is not extended: late filing incurs fees, and persistent failure can lead to compulsory dissolution of the company.

The bank sees this data in public registers, so tidy reporting helps keep the account. We find an accountant in Norway together with the bank.

If the company pays salaries, it files a monthly report on payments and deductions with the authorities. These payments go through the Norwegian bank account, so the bank asks in advance whether the company will have employees in Norway.

What we do

Murblz specialists assess the chances before applying, choose a bank in Norway, prepare the documents and business description and handle the correspondence with the bank until it decides. Company taxes in Norway are covered on our taxes in Norway page. The quote is fixed in writing; the decision to open the account is always the bank's.

Who gets refused

A bank will refuse if the source of funds cannot be documented, if the client or their money is linked to sanctions restrictions, or if the purpose of the account does not match the expected payments. We check whether a case involving Russian citizens can proceed before any documents are prepared.

What we do

• Corporate account - opening assistance

See also

Personal account · Investment property · Country taxes · All country programs

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