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Norway

The ISO code of Norway is NO according to the ISO 3166 standard. The local name of the country is Norge. Norway capital city is Oslo. People in Norway speak the Norwegian, Nynorsk, and Bokmål languages. On 9 May 1945, Norway emerged as a sovereign political entity. In the year 05/09/1945, Norway emerged as a sovereign political entity. The largest city in Norway is Oslo.

Norway is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Norway is .no. The International dialing code for Norway is 47. People in Norway drive on the right side of the road. Total land area of Norway is 323,802 km² (approx. 125,020 mi²). Norway is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Norway

Norway is located in Europe. Norway is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Norway faces various issues, including water pollution, acid rain damaging forests and adversely affecting lakes, threatening fish stocks, air pollution from vehicle emissions.

Doing business in Norway

We offer various corporate services in Norway jurisdiction. These services can serve both, people coming from Norway and foreigners. If you plan on doing business in Norway you might be interested in contacting us.

To find out about starting your business in Norway click on company formation in Norway.

To find out how to open a bank account in Norway and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Norway.

Choose preferred service below or continue reading to find out more about Norway.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Norway

The total population of Norway is 5,353,363 people. In Norway, the population density is 15.6 people per square kilometer (41 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Norway is 0.0586. Norway has approximately 741813 foreign immigrants. The median age is approximately 39.1 years. In Norway, 95 in every 100 people use internet. Norway has a Human Development Index (HDI) of 0.944.

The majority religion of Norway is Christianity, Norway is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Norway.

Culture of Norway

People in Norway speak the Norwegian, Nynorsk, and Bokmål languages. According to data on inbound tourists in Norway, 6,000,000 tourists arrive in the country each year. The first McDonalds in Norway was opened on 18 November 1983, and it was located in Nedre Slottsgate, Oslo. One of the most popular national dishes of Norway is fårikål. To read more click on culture of Norway.

Geography of Norway

Norway is considered to be a large nation because of its total area. Its total land area is 323,802 km² (approx. 125,020 mi²). Norway is located in Europe. Its capital city is Oslo. Norway has 3 neighbouring countries. Its neighbours include Finland, Sweden, and Russia. Total length of land borders of Norway is 2566 kilometers (~991 miles).

The highest point of Norway is Galdhøpiggen, with its official height being 2469 m (8,101 ft). Including land mass and EEZ, the total area of Norway is approximately 2,708,980 km² (~1,045,938 mi²). The most notable natural resources found in Norway are petroleum, natural gas, iron ore, copper, lead, zinc, titanium, pyrites, nickel, fish, timber, hydropower.To read more click on geography of Norway.

Economy of Norway

The currency of the country is Norwegian krone. The symbol used for this currency is kr, and it is abbreviated as NOK. 4.3% of population in the country are unemployed. The total number of unemployed people in Norway is 230,195. Each year, Norway exports around $154.2 billion and imports roughly $90.14 billion. The Gini Index of the country is 26.8. Norway has a Human Development Index (HDI) of 0.944.The Global Peace Index (GPI) for Norway is 1.393. Norway has a government debt of 35.5% of the country's Gross Domestic Product (GDP), as assessed in 2013. Norway is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are petroleum and gas, shipping, fishing, aquaculture, food processing, shipbuilding, pulp and paper products, metals, chemicals, timber, mining, textiles.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Norway is $346,337 billion. Each year, consumers spend around $210,143 million. The ratio of consumer spending to GDP in Norway is 0%, and the ratio of consumer spending to the world consumer market is 0.49. The corporate tax in Norway is set at 24%. Personal income tax ranges from 0% to 47.2%, depending on your specific situation and income level. VAT in Norway is 25%. To read more click on economy of Norway.

Infrastructure of Norway

Infrastructure quality in Norway is rated to be at 4.19. It indicates a good quality - roads, railroad, ports and other facilities are adapted and regularly maintained to handle high levels of traffic at all times, as well as most probably there are special facilities for handling high intensity and/or special traffic or vehicles (e.g. motorways a.k.a. autobahns and deepwater ports).

In Norway, 100% of the population has access to electricity. There are 3,588,000 internet hosts in Norway. Norway has 95 airports nationwide.

The logistics performance index of Norway is 3.96. It indicates a good performance - the logistics system is well prepared and organised, shipments mostly arrive on time and do not suffer damage, and the infrastructure is ready to handle even unpredictably big amounts of traffic as long as it is not overwhelming.

Tracking possibilities for shipments are rated at 3.5. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Norway is 31. To read more click on infrastructure of Norway.

Politics of Norway

Norway, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Norway is 1. Citizens in Norway experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Harald V.

According to the World Bank Group, the government effectiveness index of Norway is 1.81. This indicates that the government of Norway is very effective. Citizens enjoy highly effective social, public, and civil services, and the overall morale in Norway is high. Government actions are efficient and expeditious, and dangerous situations are highly unlikely as a result.In Norway, the legislative power is vested in a Great Assembly. The Global Peace Index (GPI) for Norway is 1.393. The strength of legal rights index for Norway is 5. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. Norway is a member of the United Nations (UN). On 27 November 1945, it joined the UN at it inception date as a full member state. Norway is one of the original UN member states who founded the organization. Norway is a member of the World Bank. To read more click on politics of Norway.

Environment of Norway

Norway emits 9.2 metric tons per capita of CO2. 121120 km² of Norway's territory is covered in forests. and forest land comprises 37% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Norway is 31. To read more click on environment of Norway.

Company formation in Norway

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Norway.

When establishing a company in Norway, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Norway that will affect the establishment and growth of one's business. Contact us or click on company formation in Norway to read additional information when setting up a business.

Bank account opening in Norway

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Norway. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Norway, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Norway or contact us.