Company Establishment and Liquidation.
Core procedures for your business lifecycle.
From Inception to Conclusion: We Navigate Your Business Journey.
Other services
From Inception to Conclusion: We Navigate Your Business Journey.
From business idea to closure: everything you need to know.
Setting up and liquidating companies are two essential procedures in a business’s life cycle. Both these processes can be intricate and might require services from professionals such as lawyers, auditors, accountants, and other specialists.
Company Establishment:
The process starts with a business idea and plan. The establishment procedure includes:
Development of a business plan.
Choosing a business structure.
Name check and registration.
Preparation and submission of founding documents.
Acquiring necessary licenses or permits.
Opening a bank account.
Registering with tax authorities.
Company Liquidation:
If a company decides to terminate its operations, it must undergo a liquidation process, which encompasses:
Decision-making on liquidation.
Appointing a liquidation committee or liquidator.
Payment of liabilities.
Distribution of remaining assets.
Notifying relevant institutions and deregistering the company.
The most popular types of companies established by Lithuanians in Norway are:
ENK (Enkeltpersonforetak): This is a sole proprietorship in Norway, similar to individual activity in Lithuania. ENK doesn't require initial capital and can be established by a resident with a work permit in Norway. This business model is suitable for smaller individual operations. However, one must be cautious as the business owner has unlimited personal liabilities.
AS (Aksjeselskap): This is a limited liability company in Norway, akin to UAB in Lithuania. Establishing an AS requires a minimum share capital, currently set at 30,000 NOK. AS might be the right choice for larger operations or where there's a higher business risk, as it protects the owner's personal assets.
NUF (Norskregistrert Utenlandsk Foretak): This refers to a branch of a Lithuanian company in Norway. The NUF structure allows foreign companies to operate in Norway via their branch. Companies registered as NUF can avail the rights and privileges granted by Norwegian law but are also under the purview and regulations of the parent company.
Service Inquiry
We're here to help. Fill out the form below.