Start a new sole trader company

Starting an ENK and becoming a DNB customer can now be done as one combined process.

Start by selecting “Start application with BankID” at the top of the page, select the name of the company and fill in the rest of the information.

The ball is now in our court, we’ll get in touch with you when everything is ready. You can check the status at any time by selecting “Check status or update the application”.

What do business requirements mean?

Many people are wondering if what they’re going to do in fact can be considered business and meet the requirements to start a company. The Norwegian Tax Administration has written about this on their pages, read up here and find out if you meet the requirements.

To check the status on or update your application, click Check the progress or update the application further up on this page. Log in with BankID to retrieve existing applications.

When starting a business, you need to consider whether you should set up an ENK or AS. If you are unsure, DNB’s Start-up advisory team help you for free.

Sole proprietorship (ENK) is an organisation in which a natural person is responsible for the business. This means that you have full financial responsibility for the business’s requirements and obligations. You are not obliged to invest money in the company, so you can start with NOK 0 in your account.

Private limited company (AS) is an abbreviation for aksjeselskap (private limited company). The private limited company has some advantages. Vis-à-vis creditors (those who have lent the company money) you’re only liable for the amount you have deposited. As an employee in your own AS you can claim the same social security benefits as other employees.

When you form an AS you need to deposit a minimum of NOK 30,000 in share capital. Compared to an ENK, AS has slightly stricter accounting requirements. An AS must also have a board of directors with at least one member.

If you want to set up a private limited company (AS) instead of a sole trader company, you can get more info here.

There are also several other company types, such as general partnership with shared liability (DA), general partnership with joint and several liability (ANS) and foundations. Read more here.

It’s a good idea to check if the name is available. You can easily do this at navnesok.no.

If the name is taken, you must choose another name or obtain consent from the company that has the name.

Remember that the name must contain your surname.

If you need consent, you cannot establish the company through DNB, but can use Samordnet registermelding (coordinated register notification).

The revenue consists of all the income that the business has generated during the given period. As a rule, this involves revenue from invoiced goods and services, cash sales and other revenue.

When the account has been created, you will find the account number when logged in to the online bank. The first time you log in, do so via the online bank on a PC/Mac or the full version on a phone. You will find the account number in the account summary.

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