Beneficial owners

The Register of Beneficial Owners 

The register of beneficial owners must provide an overview of who the actual beneficial owners of the business are, and the business is required to register these beneficial owners in the register.

The Register of Beneficial Owners has been established as a measure to combat money laundering, terrorist financing, and financial crime. The purpose of the register is to provide transparency about who ultimately controls businesses.

What is a beneficial owner?

A beneficial owner is a physical person who, by themselves or together with others, can exercise control of an enterprise through ownership or voting rights. A person is a beneficial owner if the ownership or voting right exceeds 25 %. Also, physical persons entitled to appoint or dismiss a minimum of 50 % of the members in the governing bodies of the enterprise is a beneficial owner.

The ownership can be direct or indirect through other companies.

In the case of limited liability companies, the beneficial owners are generally identified in the founding documents, shareholder book or shareholder agreements. However, other agreements may have an impact on the assessment. The board of directors are responsible for obtaining, retaining, and registering information about who the beneficial owners of the enterprise are.

The Brønnøysund Register Centre on beneficial owners

The Brønnøysund Register Centre - Check if you have to register beneficial owners

Act on register of beneficial owners (in Norwegian only)

Regulations to the Act on register of beneficial owners (in Norwegian only)