Norway is one of the most developed countries in Europe. This country has practically no external debt and owns significant reserves of fuel resources. Therefore, the Norwegian krone has the status of one of the most stable currencies in the face of economic crises.
Many foreign entrepreneurs strive to have a valid open corporate account in a Norwegian bank. But to maintain the stability of the banking sector and prevent unauthorized losses, the Norwegian government has introduced strict requirements for the registration of non-residents. Therefore, to successfully open a corporate bank account in Norway, we have prepared the following information.
Procedure for opening a bank account in Norway
Norway is a highly developed country, so banking operations are gradually reaching a new non-cash level. Besides, the stability of the national currency attracts foreigners to the country who want to open an investment or deposit account.
To open a bank account in Norway, you will need to provide the following documents:
- Passport or any other identity document that is an international identification document;
- Letter of recommendation from the previous bank, confirmation of credit history;
- Tax identification number (provided with the visa).
The stability of the economy and political development of the country has a positive effect on the investment attractiveness of Norway. This factor allowed the popularity of the Norwegian banking sector to develop among foreign entrepreneurs.
To open a corporate bank account in Norway, a foreign legal entity needs to provide notarized copies of the identification documents of the founders and shareholders of the company. A prerequisite for obtaining a bank account for a foreign corporation is a permit to operate in Norway and a certificate of registration.
Benefits of Norwegian Banking Jurisdiction
- A perfect reputation in the international market.
- Political stability.
- Loyal legislation to non-residents.
- Tax incentives of a different nature.
- High level of confidentiality.
- Favorable investment climate.
Popular banks in Norway
Den Norske bank
Den Norske Bank is one of the largest banks in the Scandinavian region. This bank provides a full range of banking services for residents and non-residents. It is the leading shipping and energy bank in the region. However, it mainly serves residents of Norway. It has branches in America and the Caribbean.
Fokus Bank is a subsidiary of Danske A / S, a well-known Danish bank. This financial institution does not have its own representative offices and an official website on the Internet. Customer service is carried out in the offices of the main bank. It is popular among non-residents due to its loyal policy towards private clients.
Kvinnherrad Sparebank is one of the leading retail and commercial banks in Norway. It serves over 160 thousand clients throughout the country. The bank offers a full range of financial services in areas such as loans, savings, investments, insurance, and pensions for individuals and corporate clients.
Storebrand provides traditional banking services for residents. Takes leading positions in the Norwegian ratings of banks for servicing pension accounts. Differs in a loyal attitude towards clients, but strict requirements for registration of non-residents.