Everything there’s to know about starting an AS

Those who have lived in Norway for some time are well-acquainted with the term AS. AS stands for limited liability company and it’s one of the most common business structures in Norway. The reason why this organization framework is so popular is that it’s not demanding. To be more precise, setting up such a business structure is easy and fast, so there’s no reason why you shouldn’t take it into consideration. Maybe the thought has already crossed your mind. If you’re genuinely interested in starting an AS, you will want to read the following.

Determine if you’re prepared to start an AS

First of all, it’s important for you to figure out if setting up a limited liability company is the smart thing to do. For many people, doing so is advantageous, but you never know. If you’re a freelancer let’s say that you do web design or you’re good at search engine optimization, you should take into consideration the possibility of starte AS. The demand for capital share isn’t a great one, not to mention that there are fewer risks involved. You’re basically an independent entity, so in case you’re mistaken about something, you’re not personally accountable. The thing is that you have to give the decision a lot of thought.  

Steps to registering your AS

If you’ve come to the conclusion that starte enkeltmannsforetak is the best thing for you, you’ve got to proceed with registering the limited liability company. But how do you do that? Well, by following these steps:

  1. Establish the company name, share capital, and owners. Since the company name will determine your success, it’s important to focus more on that. Don’t choose a name just because there was no other option. Equally important is to come up with the share capital, which amounts to 30, 000 krones. Concerning the owners, it’s necessary to clearly point out the roles and responsibilities.
  2. Prepare the founding documents. As you can imagine, the founding documents are very important. The documents that you need to start an AS are the minutes of the first meeting, opening balance, statutes of shareholders, owner statements, an author’s confirmation. If you need help with preparing the paperwork, know that there are companies out there that can help you.

Think about getting an accountant

You may be under the impression that you have good accounting skills, but in reality you don’t. When it comes to running a limited liability company, it’s better to let someone with specialized knowledge and experience handle things. There are many technical details that require taking care of, not to mention that it can save you time as well as money. The bottom line is that you should let an accountant do the accounting. You and the other members of the board have to appoint a person that knows what they’re doing and, most importantly, that is capable of meeting the AS’ goals. This basically means that you have to choose wisely. You don’t want to regret the decision later on.