- Understandable rules adapted to the way the business world works, protect traders from unnecessary burdens. Reusing the data they already had will simplify Norwegian business, says Industry Minister Jan Christian Vestre.

Use data efficiently

The proposal, which is currently being presented for consultation, facilitates the re-use of data in a more efficient way. The government proposes that both the Register of Entities and the Register of Entrepreneurs be able to provide birth numbers together with names to authorities and other persons who may nevertheless obtain birth numbers from the Folkeregisteret.

– The financial industry, for example, uses information about who is the day-to-day manager of companies when dealing with counteracting money laundering and other financial crimes. It is easier to see whether it is the same "Anne Bakke" or "Jan Johansen" who is CEO in several places if the birth number is included with the name. This is information that authorities have already collected for National Register, so this information should be able to be shared with more people, Vestre says.

Easier registration of sole proprietorships

The Minister of Business and Industry presents proposals to facilitate the registration of sole proprietorships. A sole proprietorship is an economic activity owned by a natural person, carried out at its own expense and risk.

According to the application, the owner must register the sole proprietorship with Brønnøysundregistrene only if the person is to pay income tax in the sole proprietorship or employ someone. There may also be other reasons why a sole proprietorship requires a separate organization number. Vestre proposes to keep the option of voluntary registration with Enhetsregisteret and Foretaksregisteret. Vestre also proposes that only one business activity may be registered per natural person.

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- The proposals do not concern changes to corporate taxation. The owner of a sole proprietorship pays tax both for himself and for the sole proprietorship - says the Minister of Economy. We natural persons use the birth number for identification. Therefore, there are no good reasons why you need to additionally register a sole proprietorship for the same person. Moreover, the rules we have today are both old and complicated, says Vestre.

All NUFs must be named NUF

NUF is the Norwegian foreign branch company operating in Norway. The foreign company is responsible for operations in the Norwegian branch. To ensure that third parties know that you are dealing with a NUF, the Minister for Business and Industry is proposing that all NUFs use the designation NUF in their name.

Information is available on the website of the Ministry of Trade and Fisheries. The consultation period is three months.

These proposals are submitted for consultation:

  • A proposal for simpler rules for registering sole proprietorships:
    • Sole proprietorships can no longer be registered with Enhetsregisteret or the Register of Entrepreneurs
    • The obligation to register a sole proprietorship arises when the owner has to pay income tax or hire someone
    • The holder may voluntarily register with Enhetsregisteret and Business Register
    • It will be possible to register only one sole proprietorship per one natural person
  • A few proposed changes to the rules regarding company names:
    • NUF must use the term NUF in its name
    • Company designations such as AS, ANS and NUF etc. must be in the company name
    • The name is written in small and capital letters as requested by the company
    • Orthogonal characters and spaces will not distinguish between two identical company names
  • Project to harmonize the act on the register of entities and entrepreneurs with the act on the National Register:
    • The register of entities and the register of enterprises may provide public authorities with birth numbers and D numbers, etc., which nevertheless receive this information from the National Register of Citizens

Source: regjeringen

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