Your first year with a limited company – which deadlines and tasks matter?

The first year has its own order: the share register at formation, beneficial owners within 14 days of registration, the right invoice set-up before the first invoice, VAT registration once turnover passes NOK 50,000 over twelve months, employer obligations with the first employee, and then the shareholder register statement on 31 January and the tax return and annual accounts the following year.

At formation: create the share register

A limited company has to have a share register, created at formation and kept up to date. It has to show the shareholders, the number of shares, share classes and changes in ownership. The share register is the company's own continuous record and is not the same as the annual shareholder register statement to Skatteetaten.

Within 14 days: beneficial owners

A new company has to register information in the Register of Beneficial Owners within 14 days of being registered in a public register. That applies even where the company concludes it has none. This is not only about owning more than 25%. Control can also follow from voting rights, a right to appoint or remove directors, or other actual control. Changes also have to be registered within 14 days. It is a continuing obligation, not a one-off job.

Before the first invoice: get the set-up right

An ordinary sales document has to contain the invoice number and date, identification of the seller and buyer, what was supplied and its extent, the time and place of delivery, the price, the payment terms and any VAT. Where the company is VAT-registered, the organisation number has to be followed by «MVA». There is no general statutory «three-day deadline» for getting the bank and accounts running after registration – but the invoice set-up should be right from the first invoice, not corrected afterwards.

At NOK 50,000: consider VAT registration

For most VAT-liable businesses the duty to register arises once turnover and taxable withdrawals together exceed NOK 50,000 over a twelve-month period. That is not NOK 50,000 per calendar year – it is a rolling twelve months. In some cases the business can register earlier through pre-registration, and VAT on start-up costs can in many cases be recovered through a retrospective VAT settlement. Both are covered in VAT registration So keep the records from the start-up period even where the company is not yet registered.

With the first employee

The contract, occupational injury insurance, the tax card, advance deductions, employer's contributions and the a-melding due on the 5th of the following month – the whole set-up is in Your first employee Occupational pension: one employee does not always mean a pension obligation. It is triggered where at least one employee without an ownership interest has working hours and pay corresponding to at least a 75% position. The conditions and the six-month deadline are in Mandatory occupational pension From 2026 the advance deduction goes directly to Skatteetaten by the first working day after payday – see A monthly checklist for the payroll run

31 January: the shareholder register statement

The company has to file a shareholder register statement for every income year, due 31 January the following year. That applies to the first, short financial year too – and even where the company has had no activity. From June 2026 the statement goes through an end-user system. See The shareholder register statement

The first annual accounts and the first tax return

Every limited company has to prepare annual accounts. The first set has to be adopted by the general meeting and filed with the Register of Company Accounts – for calendar-year entities 31 July is the last fee-free date. The tax return with the business specification has an ordinary deadline of 31 May. A company formed late in the year can have a short first financial year. The rules on the length of the first financial year should be checked early, since they affect when the first filing falls. The whole picture is in The year-end close step by step, and the full deadline calendar in The annual cycle for a Norwegian AS

The equity has to be watched throughout

Section 3-4 requires adequate equity and liquidity at all times, and section 3-5 gives the board a duty to act where the equity is assumed to be lower than is adequate. In a new company with NOK 30,000 of share capital, a few months of losses can be enough for that to bite. That does not mean the company has to stop – but the board has to deal with it and document its assessment. See Share capital in a limited company and Directors' liability and personal liability

The first year in order

The share register at formation. Beneficial owners within 14 days. The bank, the accounting system and the invoice set-up before the first sale. A continuing VAT assessment against the twelve-month threshold. Employer obligations from the first employee. The shareholder register statement on 31 January. The tax return on 31 May. The general meeting by 30 June. The annual accounts by 31 July. What is most often missed in practice is not the tax return – it is the first two, because they arrive with no reminder. We set up the accounts, VAT and payroll for a new company, and follow the deadlines through the whole first year.

This is general guidance, not advice on your specific case. Deadlines, rates and amounts change – always check the current rules, or get in touch with us.

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