Why invest in Norway?
Efficient and fast establishment process
Norway is an business-friendly and highly digitalized country that has worked towards making opening a business more and more efficient. Registering a business is a matter of days and meeting compliance requirements is much more efficient than in most European countries.
The most resilient economy in the world
Norway tops the 2020 FM Global Resilience Index. The more resilient a country's business environment, the less risk you run as an entrepreneur. It concerns, among other things, how well a country is able to deal with a crisis such as a pandemic.
Norway is a key player in Energy
The country has saved up much of its oil and gas income. They have set up a huge fund: the Government Pension Fund Global, usually referred to as "the oil fund". The fund is the largest sovereign wealth fund in the world. It is worth around 200.000 euros per Norwegian.
High spending consumers
The country is one of the countries with the highest purchasing power parity (PPP) per capita. With just over 5 million inhabitants, Norway's domestic market is small. The country's population is, on the other hand, a high-spending, highly-educated one. It makes Norway both an interesting market in itself as well as an excellent testing ground for upmarket goods and services that will be rolled out to the rest of Scandinavia, the Baltics and Western-Europe.
Norway has many tax treaties
Norway has a relatively large amount of bilateral tax treaties. This avoids problems with double taxation when doing business in Norway.
Norway is a very wealthy country
Not only does the country have an exceptionally high GDP per capita, it is also distributed quite well among its +/- 5 million inhabitants. Norway generally has a very low unemployment rate and average and median salaries are high.
The wealthiest and the healthiest
Not only is Norway among the wealthiest countries in the world, it is also among the healthiest. Norwegians live longer and healthier lives than most.
Relatively low tax burden
Norway has one of the lower corporate income tax rates in Western Europe. Norway has relatively low personal income tax rates compared to the other Nordic countries. Despite popular belief, the country ranks in the middle bracket compared to other European countries in terms of effective tax burden.
Productivity in Norway is exceptionally high
Norwegian have a good idea of work-lif balance. The hours they put in are used extremely productively. Many employees in Norway are well-adapted to flexible working such as working from home. The ability to adapt and to work efficiently define the Norwegian workforce.
Independent yet connected
Norway is not a member of the EU, but very well connected to the rest of Europe and the single market through the EEA and Schengen agreement. This guarantees smooth trade and travel between Norway and the rest of Europe. Norway is not part of the sometimes volatile euro, but has its own stable currency, the krone.
An excellent place to work and live
Norway consistently tops the rankings of best places to live. It is healthy, safe and stabile. There is a high level of education fuelling the knowledge economy. Not in the last palce, Norway's system and culture ensures everyone the opportunities they deserve.
Green shift opportunities
Norway is at the beginning of an exciting new time: moving away from oil towards a renewable and sustainable economy. Norway is already a front runner in the shift to electric driving, the battery sector is booming and the abundance of hydro provides accessible and cheap energy. The Green Shift will make Norway from an oil giant into a green giant.
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