Shelf company/turnkey solutions for Norway in 2022
Norway business turnkey solutions services. There are a number of ways foreign entrepreneurs can conduct business in Norway to optimize profits. There are broadly two ways an investor can engage in business in Norway namely i) establishing a limited liability company from scratch and ii) buying of a shelf company/turnkey solution;
The name of the already approved corporate bank account is that of the existing ready-made company. To maintain the corporate bank account, the shelf company name cannot be changed. Consequently, our Client must use the existing name of the shelf company for their customers. The business activity of the company is allowed to change. If our Clients wishes to change the shelf company name, the bank will request a new corporate bank account opening application under the new company name;
Bejarano ADF Consultants fees
Norway company turnkey solution is an already incorporated legal entity in Norway complete with i) a Hong Kong corporate bank account with internet banking ii) legal registered office iii) resident director iv) registered shares with the Norwegian Central Securities Depository. Provision of turnkey solutions in Norway costs an average of €21,710;
Hong Kong banks are strict and require a face to face meeting with a Client in order to give an approval for a corporate bank account. There is a 50% chance that the Client will travel to Hong Kong for this engagement. However, Bejarano ADF Consultants Banking Team does everything necessary to reduce this probability and to ensure the Client is exempted from travel;
Subsequent to buying a shelf company in Norway, foreign entrepreneurs are advised to conduct a thorough background check on the company to ensure it has no debts, accounting and tax malpractice or any liabilities whatsoever before finalizing the acquisition.
Steps to purchase a shelf company in Norway.
| Steps | Week |
|---|---|
| Bejarano ADF Consultants Compliance Team receives the required corporate and personal due diligence information from our Client; | 1 |
| Our Client signs Bejarano ADF Consultants engagement letter and returns the original to our Singapore Head Office. Our Client settles our fees; | 1 |
| Our Client confirms by email the planned corporate structure and e-mails the required due diligence. | 1 |
| Bejarano ADF Consultants provides our Client i) a company name and number ii) a company office address and a Norwegian tax ID iii) a Hong Kong corporate bank account number and iv) a tax number. Our Client can inform customers and suppliers; | 1 |
| The Norwegian shelf company director’ signs the legal share allotment and legal share transfer; | 1 |
| The existing Norwegian shelf company director’s courier return the originals legal transfer documents to Bejarano ADF Consultants Singapore office. Bejarano ADF Consultants’ Company Secretary Team submits transfer documents to Norwegian Companies Registry for processing and immediately the Norwegian registry approves the Norway company change of company ownership application and emails Bejarano ADF Consultants proof of the same. Bejarano ADF Consultants then emails our Client i) the certificate of incorporation ii) the new M&AA with the new shareholders and directors; | 2 |
|
To change bank signatory, there is a 50% probability our Client must travel to meet the bank in Hong Kong. If the bank signatory is already a customer of the bank, then there is a 75% probability a travel exemption will be granted. As always, Bejarano ADF Consultants will aggressively negotiate a travel exemption for our Client, asking the bank to just perform a skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to Norway/Hong Kong. If the new bank signatory must travel to Hong Kong, then our Client can do this when they are ready. Our Client will be picked up at the airport by Bejarano ADF Consultants limo and chauffeured to their hotel. Bejarano ADF Consultants’ Banking Team and our Client attends a meeting with the Hong Kong bank to appoint our Client as the new bank signatory and submit the corporate bank package containing:
|
3 |
| The bank approves the appointment of the new bank signatory and will courier new internet banking documents (login, password etc) to our Client. Bejarano ADF Consultants is no longer a bank signature to this corporate bank account; | 5 |
|
Bejarano ADF Consultants will courier the following to our Client:
|
5 |
| Our Client receives a courier from the bank comprising new internet banking information. The new bank signatory activates the internet banking. | 6 |
