How Do I Open a Bank Account in Norway?

Account in Norway

On the whole, Norwegian banks are loyal to foreign clients and give them a possibility to open accounts even before the residents’ status is obtained. You can bring a certificate from the tax office to the branch that the resident status is currently issued. This certificate will be enough for the bank. It would, in turn, require supplementation with either that or a ready-made Norwegian identification number, passport, colored passport photo, and residence permit in the country when opening an account. Some banks may also ask for an account statement of the previous bank. Opening the account online involves filling all the information in a questionnaire form, to be cross-checked by the bank. If all documents are approved, Norwegian banks open an account within a few working days.

Advantages

The Northern state is loyal to foreign investors and businessmen. Therefore, the registration of an account in Norway is accompanied by a long list of preferences:

• stable economic situation;
• transparent and clear legislative framework;
• political environment conducive to the development of entrepreneurship;
• diversification of financial risks;
• stability of the local crown;
• confidentiality;
• refund in case of bankruptcy was guaranteed;
• high liquidity of the financial segment;
• capabilities of trading with EU, USA, and other regions;
• multicurrency propositions;
• package services.

The last one is a bonus that comes together with account registration in many banking institutions.

He assumes:

• favorable rates on loan agreements;
• high interest rates on deposits;
• service discounts;
• free insurance, and so on.
• Summing up all of the above, one can definitely say that the financial sector of this kingdom is very attractive to Russian citizens.
• Features and complications

It is extremely hard for non-residents to finalize the registration procedure without any help.

They should be prepared for:

• harsh identification conditions;
• necessity to get a tax number;
• many checks.
• Moreover, the client should confirm the fact of the nearest receipt of the resident status. Otherwise, his chances are rapidly approaching zero.

To open an account with a bank of Norway, the FL will need to provide managers with:

• application completed;
• identification card;
• evidence of a positive credit history;
• proof of solvency;
• residence permit;
• Colour photos;
• national identification number.
• If the applicant is not going to stay in the country for more than 6 months, then a D-number will be required from him.

YUL will have to supplement the voiced package:

• certificate of company registration;
• activity permit;
• information about all shareholders and founders.
• But even in this case, approval is not guaranteed. To avoid a negative answer, it is recommended to contact specialists at the first stages.

Professional services

Our employees are ready to open a turnkey account in Norway. In this case, we will undertake everything ourselves—from field visits and to the representation of interests in such institutions as:

• Bank Norwegian
• BN Bank ASA
• Cresco
• Danske Bank

If you want to open a business bank account in Norway, then our staff here at RUE will be pleased to help you. We have eight years of experience in helping clients open bank accounts in Europe. Our team engages in extensive practice and our broad network of reliable partners in the financial services market of Europe, which enables us to provide the most suitable and cost-effective solutions that enhance the functioning of the businesses we serve.

Business bank account in Norway

The next step one should undertake when willing to start business interactions within this highly economically developed country is to open a corporate bank account in Norway. It creates very comfortable conditions to practice entrepreneurship, and its banking system is highly reliable and innovative. Now, let’s analyze the main characteristics of opening a corporate bank account in Norway and its benefits in more detail.

Reasons for Opening a Corporate Bank Account in Norway

• Stability and Reliability: Its banking system is known as one of the most stable and reliable, turning Norway into an inviting country for doing business and opening accounts.
• High Service Level: Banks are ready to provide high service level customer service and a wide scope of services, meeting all requirements of corporate customers.
• Innovative Financial Technology: FinTech is one of the newest innovative business activities in Norway; it opens access to modern and innovative financial instruments and services.
• Geographical Location: Norway enjoys a strategic location, easy to access the European and Nordic markets.

How to Open a Corporate Bank Account in Norway

Opening of a corporate bank account in Norway thus enables the organization to have access to the ‘strong and innovative’ banking system with an array of financial services to be availed. Selection of the bank shall be based on the reputation, terms of service, and service offer at this juncture to arrive at the best decision for the business.

Personal bank account in Norway

Opening a personal bank account in Norway may be of great importance for those who live, work, or have financial interests in the country. Located in the northern part of Europe, Norway remains one of the most economically stable countries in the world. Because of its high standards of living and modern approach to financial services, this country is quite attractive in terms of opening a personal bank account. In this article, the reader will become better informed on key aspects and benefits regarding opening a personal bank account in Norway.

Benefits of Opening a Personal Bank Account in Norway

• Stable Banking System: The banking system in Norway is stable and sufficient in providing security to your finances and deposits.
• A wide range of banking services: Banks in Norway offer a host of financial products and services, including debit and credit cards, savings accounts, deposits, and internet banking.
• Innovative Technology: Norway is one of the leading countries in the field of financial technology. You will get modern and easy ways to handle your finances there.
• High Level of Service: Norwegian banks have quite a high level of customer service, where customer satisfaction is paramount and professional advice may be given if required.

Steps to Follow for Opening a Personal Bank Account in Norway

Opening a personal bank account in Norway means access to high-quality financial services, managing your finance effectively in a very stable and developed economy. Therefore, while selecting a bank, it is about its reputation, terms of service, and offered services that need to be considered in making a better choice to suit your financial needs.