Norway

Tax advantages

• Norway has no inheritance or gift tax, allowing wealth transfer without immediate tax liability.
• Capital gains on shares held for more than one year are taxed at a reduced rate (22% corporate, 37.84% personal effective after deduction).
• The Norwegian tax system offers a wealth tax but with a relatively low threshold and deductible allowances for primary residences and business assets.
• Norway has a wide network of tax treaties to avoid double taxation, beneficial for international investors.
• Dividends from foreign subsidiaries may be exempt under the participation exemption regime.

Tax disadvantages

• Norway imposes a wealth tax on net assets above approximately NOK 1.7 million (around $160,000), with rates up to 1.1% combined municipal and state.
• Personal income tax is progressive, with top marginal rate around 46.4% including social security contributions.
• Dividend and capital gains for individuals are taxed at 37.84% (22% corporate + 15.84% shareholder tax), which is high compared to some jurisdictions.

Residency advantages

• Permanent residency after three years of legal stay, with a path to citizenship after seven years (with language and integration requirements).
• High social trust and extremely low crime rates provide a secure environment for families.
• Access to world-class public healthcare and education systems, with international schools available.
• Norway is part of the Schengen Area, allowing visa-free travel within 27 European countries.
• Strong legal protection of property rights and a transparent civil law system.

Residency disadvantages

• Residency requires physical presence (at least 183 days per year) and can be difficult to maintain for frequent travelers.
• The cost of living is among the highest in the world, particularly for housing, services, and imported goods.
• The climate can be harsh, with long, dark winters in many regions, which may not suit everyone.

Living quality

Life in Norway offers exceptional quality: clean air, pristine fjords, and a culture of outdoor activity year-round. Infrastructure is modern and efficient, with reliable public transport and high-speed internet even in remote areas. Safety is unparalleled, with low crime and high social cohesion. The climate varies from mild coastal winters to cold inland conditions, but the unique natural phenomena—northern lights, midnight sun—add to the allure. Luxury living is understated, focusing on wellness, design, and sustainability.

Best for

• Norway is ideal for HNWIs who value discretion, security, and a connection to nature, and who seek a stable, transparent jurisdiction for wealth management. It suits those with business interests in energy, shipping, seafood, or renewable energy, and who appreciate a low-key lifestyle away from ostentation. Families will benefit from excellent education and safety, while investors can leverage the GPFG’s ecosystem and Oslo Børs’ liquidity.