Beneficial owners

The Register of Beneficial Owners

The register of beneficial owners is intended to provide an overview of who the beneficial owners are in the company, and the company must register the beneficial owners in the register. The register is established to prevent money laundering, terrorist financing, and economic crime. Its purpose is to provide insight into who actually controls the company.

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)