The Ministry of Trade, Industry and Fisheries has adopted new regulations that make it easier to find out who owns shares in Norwegian companies. The regulations will come into force on 1 February 2025 and are part of the government's five-point plan for greater transparency about share ownership.
But what does this mean for businesses, and how can you ensure your company complies with the new requirements without drowning in administration? In this article, we explain the main points of the regulation and how Unlisted can make the process easier for you.
The new regulations concern access to the shareholder register, the shareholder register and nominee-registered shares. The regulations establish rules for faster and easier access to shareholder registers and shareholder registers, including a requirement that information be available free of charge and provided electronically within three days. They also clarify the requirements for companies with nominee-registered shares, which contributes to a better overview of foreign owners.
– This regulation is an important step in strengthening trust in society. Transparency about share ownership is crucial to ensuring a healthy and well-functioning economy, says Minister of Trade and Industry Cecilie Myrseth.
All companies must now have a digital and continuously updated shareholder register available for inspection at short notice from 01.02.2015
A shareholder register is an overview of all shareholders in a limited liability company and how many shares they own. This must be continuously updated when changes are made. There are several statutory provisions regarding the formal requirements for a shareholder register and its handling. These follow Chapter 4 of the Companies Act.
In addition to an overview of the number of shares owned by different shareholders, there are requirements regarding the information that the company has registered on each shareholder and that the information is stored for 10 years. In the event of a capital increase, the board of directors must ensure that the new shares are entered in the shareholder register from the time the shares give rights in the company. When a shareholder is entered in the shareholder register, the company must notify the shareholder of this. There must also be an overview of the different share classes and any pledges.
Unlisted offers all companies the opportunity to create a free digital shareholder register that meets all Norwegian legal requirements. The shareholder register in Unlisted's Ownership Portal is interactive and it is possible to invite shareholders to different levels of access and a personal shareholder portal. You can also easily grant others time-limited access upon request, to easily comply with the new regulations. All of this is free of charge for all companies with up to 25 shareholders.
Create a free shareholder book here
Unlisted is designed to make shareholder governance simple, efficient and hassle-free, especially in light of the new requirements. Here's how we can help your company:
1. Automated shareholder register
Our platform has built-in automation to easily keep the shareholder register up to date. With everything in one place, you can easily keep track and ensure that the information is always correct.
2. Error-free reporting
Avoid manual errors that could lead to fines or non-compliance. Our platform generates ready-made reports that comply with regulatory requirements, so you can feel confident that everything is in place.
3. Brief history
With Unlisted, you can easily extract historical data and see changes in share ownership over time. This makes it easy to handle audits or respond to government inquiries.
4. Tailor-made solutions
Every company is unique. Our software has different solutions that work for different businesses, from basic administration to more advanced shareholder management services.
Get started today, easily and for free, with a platform that your business can grow with.
Create a free shareholder book here
