The Kingdom of Norway is a Scandinavian country found in the far north of Europe. It shares a long land border with Sweden to its east, Finland to its northeast, and a maritime border with Denmark to its south. It also has a long coastline on the North Sea to its west. Norway is also known for having the northernmost permanently inhabited town, and occupies the northernmost point of the European peninsula. Its geography is renowned for its thousands of fyords, or inlets from the ocean, over 50,000 small, mostly uninhabited islands, and its stunning mountains and pristine environment.
Norway has a population of around 5.3 million people, most of which are concentrated in its southern urban centers such as its economic and political capital, and largest city Oslo. Norway is considered to be the most democratic country in the world, consistently ranking at the top of the Democracy Index since 2010. Its system of government is a unitary constitutional monarchy with a parliamentary system. Its nominal head of state is its King, King Harald V, although his role is largely ceremonial.
Norway is a highly stable democracy and a very affluent country that is famous for its political transparency and lack of corruption. Much of Norway’s wealth has been accumulated since it discovered oil reserves off its North Sea coast in the 1960s. Instead of squandering the money, Norway has saved it up, creating one of the world’s largest sovereign wealth funds that it can draw on to fund all kinds of initiatives. Norway is also an active member of the international community and frequently mediates in global conflicts and sends aid to developing or war-torn countries.
The country’s financial system is considered incredibly stable, though the cost of living in the country is high, as are wages. By the end of this year, Norway’s corporate tax rate is projected to be around 24%, while its average personal income tax rate sits at around 41%. Although Norwegian citizens may pay a lot of taxes, they benefit from a wide range of government services, including some of the best healthcare and education on the planet.
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If you want to set up a company, open a bank account, immigrate and/or obtain residency permits in Norway, you can view some of the articles and more information about the country below, or get in contact with us directly for a free private consultation.