Norway

Why Norway?

Ranked amongst the easiest countries in the world for doing business, Norway is a modern and stable market. With vast natural resources, accumulated wealth and a healthy economy, it’s also one of the world’s richest countries, boasting an enviable standard of living backed by one of the highest GDPs per capita.

The country has strong industries based on natural resources, including petroleum, hydropower, forests, fish and minerals. In fact, on a per capita basis, Norway is the largest producer of oil and natural gas outside the Middle East. Other major industries include offshore shipping, shipbuilding, paper products and information technology.

A leader in research and development, the Nordic nation is very competitive and open to foreign investment. Norway is not only attractive for doing business; it’s also a great place to live, as confirmed in recent World Happiness Reports.

Although Norway is not a member of the European Union, Norwegian companies have opportunities equal to those in EU member states due to Norway’s participation in the EU’s single market through the European Economic Area agreement.

Our core areas of expertise

TMF Group employs more than 50 professionals across two offices in Drammen and Oslo, servicing a diverse portfolio of sectors, including energy, real estate, mining, production and biotech. The experienced team is particularly specialised in joint venture accounting and reporting for the oil and gas industry.

The preparation of financial statements and tax returns for organisations involved in petroleum-based activities in Norway is complex, and requires extensive local knowledge. We are Norway’s leading provider of accounting, payroll and financial reporting services to the upstream oil and gas industry across the Norwegian Continental Shelf (NCS), and have more than 10 years’ experience providing specialised services to companies that are setting up and exploring the region.

TMF Group Norway was established in 2006 and grew with the acquisition of Accepta AS (est. 1999) in 2013. Our local experts provide accounting, tax compliance, corporate secretarial and HR and payroll services.

Our full range of services includes:

  • Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
  • Capital Markets Services: we provide support to capital market transactions at local level and on a global scale. We help to manage and administer a wide range of transactions, from a simple escrow to a complex multi-tranche securitization, a project finance transaction or a syndicated loan. We can also help direct lenders in need of support to administer their loan portfolio.
  • Consultancy solutions: A flexible service allowing companies to deal with complexities created by expansion into new countries or growth in existing overseas locations.
  • Corporate Secretarial services: We can take care of recurring compliance filings, manage routine corporate changes and retrieve any official corporate documents from official registries.
  • Governance services: We help you stay compliant, manage your risk and regulatory obligations, including your filling requirements for CRS, FATCA, KYC and BEPS related regulations.
  • HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.
  • Private Equity Investment services: We support investment managers with bespoke back office solutions, administer complex international investment structures, and facilitate your expansion and international operations.
  • Real Estate Investment services: Our expertise covers work in multiple jurisdictions, including international holdings and administration of property companies, along with fund administration.

We can get you set up, provide a single point of contact and take care of those non-core elements that keep your business moving, while you focus on developing your business.

Get in touch with our offices in Norway to discuss how to grow your Norwegian business.

To find out exactly how we can help you, speak to our experts

We deliver tailored solutions to each precise location that allow you to operate smoothly from day one.

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22 May 2018
Article
Challenges of doing business in Norway

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