How much capital does an AS need?

At least NOK 30,000 of share capital (aksjekapital). This is not a fee — the money stays in the company and can be used for operations. The capital must be paid in and confirmed at registration; a fee for entry in Foretaksregisteret is also added.

Does an AS protect personal assets?

As a rule yes — the owners' liability is limited to the company's assets, so they are not personally liable for its debts. The exception is when an owner signs a personal guarantee (banks often require this at the start) — then that protection does not apply to that extent.

An AS pays corporate income tax on its profit, and distributing profit to an owner (a dividend) is taxed separately at the shareholder level — that is, two levels of taxation. The rates and rules depend on the situation and change; confirm the details with a Norwegian tax adviser.

Does an AS need an audit (an auditor)?

Not always. Smaller AS companies may, under certain conditions (turnover, balance-sheet total and headcount thresholds), opt out of an audit by an auditor. This does not exempt them from full accounting or from filing an annual report with Regnskapsregisteret. Thresholds are sometimes adjusted — check the current figures.

AS or sole proprietorship — which to choose?

An AS is usually chosen with growth, partners, hiring or higher risk — because it limits liability but costs more and requires full accounting. A sole proprietorship (ENK) is simpler and cheaper to start but comes with full personal liability. We expand on the comparison and the full registration path in our guides on the sole proprietorship and on starting a company in Norway.

AS company in Norway (aksjeselskap) — how it works and what it costs

Published: 2026-07-23

Aksjeselskap (AS) is the Norwegian private limited company — a separate legal entity in which the owners' liability is limited to the capital they contribute. Setting up an AS requires share capital (aksjekapital) of at least NOK 30,000 and a board, and the company keeps full accounts and files an annual report. In return, the owners' personal assets are, as a rule, separated from the company's obligations. Below we explain how an AS works, the roles, taxes, costs and who it suits. If you are comparing an AS with a sole proprietorship or looking for the full registration path, see our guides on starting a company in Norway.

What is an AS company (aksjeselskap)?

An AS is a private limited company — a separate legal entity, distinct from its owners (shareholders). The key feature is limited liability: as a rule, owners risk only the capital they contribute, not their entire personal assets. This is the main difference from a sole proprietorship (ENK).

The company is formed by shareholders who take up shares and a board (styre) responsible for running it. In smaller AS companies the board can be a single person, and appointing a general manager (daglig leder) is not always mandatory. Note that limited liability does not apply if an owner signs a personal guarantee for the company's obligations — banks often require this at the start.

How much capital and which roles are needed?

An AS requires share capital (aksjekapital) of at least NOK 30,000. This is not a registration fee — the money stays in the company and can be used for its operations (e.g. equipment, start-up costs). The capital must be paid in and confirmed at registration.

In terms of roles, the company must have a board (styre); in smaller AS a single member is enough. A general manager (daglig leder) can be optional in small companies. Some roles may carry residency requirements (e.g. within the EEA), and registration needs Norwegian identification numbers and access to Altinn. The rules are sometimes adjusted, so it is worth confirming the current requirements before setting up.

How is an AS taxed and what accounting obligations does it have?

An AS is a separate taxpayer: it pays corporate income tax on its profit. When the company distributes profit to an owner as a dividend, that is taxed separately at the shareholder level. In practice this means two levels of taxation, whose amounts and rules depend on the situation — confirm the details with a Norwegian tax adviser. This guide is not tax advice.

An AS has full accounting obligations (regnskapsplikt) and files an annual report with Regnskapsregisteret, where it becomes public. Smaller companies may, under certain conditions, opt out of an audit by an auditor, but not out of reporting. On top of that come VAT (MVA) once the NOK 50,000 threshold is exceeded and employer obligations if the company hires.

What does an AS cost and who is it for?

The cost of an AS consists of: NOK 30,000 of capital (which stays in the company), a fee for entry in Foretaksregisteret, and ongoing costs — full accounting, a possible audit and running the company. This involves noticeably more formalities than a sole proprietorship, but in return you get limited liability and greater credibility with counterparties and banks.

An AS suits you best when you plan to grow, want partners, plan to hire or operate in an area with higher financial risk. The table below summarises the main pros and cons of this form. Specific rates and thresholds may change — treat it as orientation, not as tax advice.

AS company — pros and cons
Aspect	Pro	Con
Liability	limited to company assets	gone if you sign a personal guarantee
Capital	stays in the company, for operations	must contribute min. NOK 30,000
Credibility	greater with banks and counterparties	—
Administration and tax	—	full accounting, reporting, two levels of tax

Frequently asked questions

How much capital does an AS need?: At least NOK 30,000 of share capital (aksjekapital). This is not a fee — the money stays in the company and can be used for operations. The capital must be paid in and confirmed at registration; a fee for entry in Foretaksregisteret is also added.
Does an AS protect personal assets?: As a rule yes — the owners' liability is limited to the company's assets, so they are not personally liable for its debts. The exception is when an owner signs a personal guarantee (banks often require this at the start) — then that protection does not apply to that extent.
How is an AS taxed?: An AS pays corporate income tax on its profit, and distributing profit to an owner (a dividend) is taxed separately at the shareholder level — that is, two levels of taxation. The rates and rules depend on the situation and change; confirm the details with a Norwegian tax adviser.
Does an AS need an audit (an auditor)?: Not always. Smaller AS companies may, under certain conditions (turnover, balance-sheet total and headcount thresholds), opt out of an audit by an auditor. This does not exempt them from full accounting or from filing an annual report with Regnskapsregisteret. Thresholds are sometimes adjusted — check the current figures.
AS or sole proprietorship — which to choose?: An AS is usually chosen with growth, partners, hiring or higher risk — because it limits liability but costs more and requires full accounting. A sole proprietorship (ENK) is simpler and cheaper to start but comes with full personal liability. We expand on the comparison and the full registration path in our guides on the sole proprietorship and on starting a company in Norway.

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This guide is for information purposes only and does not constitute legal or tax advice. Laws and registry rules may change — the information held in the relevant country's official registers is always decisive.