Norway is located in northwestern Europe with a population of 5.3 million and low unemployment rates. Norway’s economy benefits from oil and gas production, accounting for 20% of the GDP. Norway is ranked as one of the least corrupt countries, and in the top 10 for best countries for business. The currency is the Norwegian Krone.
Employees must be registered in a mandatory pension plan and be registered with the local National Insurance and Directorate of Labour. Foreign nationals will need a D number to begin work. Corporate bank accounts must be opened with at least 30,000 Krone, although no minimum is required for sole proprietorship.
If your company does business in Norway, you need more than a basic payroll process – you need an experienced partner to guide you through the payroll and compliance requirements. At Blue Marble Payroll, we take the risk out of doing business in Norway with cloud-based payroll technology and in-country experts to manage payroll and compliance.
Blue Marble Global Payroll solutions simplify payroll and provide customized reporting, while ensuring compliance with Norway’s tax and payroll requirements. Blue Marble Payroll provides a unique combination of local, in-country knowledge and user-friendly payroll management software that is vital to your success in Norway.