Aksjeselskap

Aksjeselskap, commonly abbreviated AS, is the most common form of limited liability company in Norway. It is a separate legal entity whose owners’ liability is limited to their paid-in share capital, making it a distinct economic unit that can own assets, enter into contracts, sue and be sued in its own name.

Formation and legal framework: An AS is governed by the Norwegian Companies Act (Aksjeloven). To establish an AS, founders prepare a stiftelsesdokument (founding document) and vedtekter (articles of association), contribute share capital and register the company with the Brønnøysund Register Centre in the Enhetsregisteret. The minimum share capital for an AS is 30,000 Norwegian kroner, which must be paid in. The company’s name typically ends with “AS.”

Shares, ownership and capitalization: An AS divides ownership into shares, freely transferable subject to legal and contractual restrictions. An AS may remain privately held or, if meeting requirements, be converted into an allmennakselskap (ASA) to raise capital publicly, which requires a higher minimum capital level (the ASA threshold being higher and subject to additional regulatory requirements).

governance and reporting: An AS has a general meeting of shareholders and a board of directors. The board may appoint a chief executive officer. Depending on size and statutory requirements, the company must prepare annual accounts and undergo auditing. The enterprise is subject to corporate income tax and applicable accounting and reporting rules.

Name and liability: The company’s legal identity is separate from its owners; shareholders’ liability is limited to their paid-in shares. The AS form is widely used for small and medium-sized enterprises as well as larger ventures seeking structured governance and capital access.