The Competitive Ability of Norwegian AS (limited) Companies
Norway was one of the last countries in Europe to drop the requirement for an annual audit for all national limited companies (AS and ASA) regardless of the size or turnover of the company. In 2011 this requirement was lifted for small limiteds, i.e. companies with less than NOK 5,000,000 in turnover, fewer than 10 employees and a total value of assets less than NOK 20,000,000. Parent companies are still obliged to file annual accounts, regardless of size or activity. From 2012 the minimum share capital requirement will be relaxed. These two measures reduce the benefits of NUF's over small AS's.
Read more about this topic: Norskregistrert Utenlandsk Foretak
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