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The Norwegian Parliament has adopted new laws for both the Register of Legal Entities (Register of Legal Entities Act) and the Register of Business Enterprises (Register of Business Enterprises Act). Both laws aim to simplify processes for businesses. The laws come into force on 1 January 2026.
WHAT'S NEW?
Entity Register Act: Promotes the efficient use of public information about all registration entities, such as companies, sole proprietorships and organisations. The law is a response to the need for a modern and digitised version of the register to meet today's requirements.
The Business Register Act: Ensures that the general public and public authorities have access to key information about companies, such as share capital and articles of association for limited companies. The Act replaces the 40-year-old Act on Registration of Enterprises, and contributes to the government's simplification goals by facilitating digitalisation.
SECURITY AND CONTROL - IDENTITY THEFT AND CORPORATE THEFT
The laws introduce notification mechanisms for changes in registered roles, such as board members, deputy board members and the CEO. Previous holders of these positions are notified when new persons are registered. This is intended to counteract unauthorised changes in company structure and help prevent both identity theft and corporate theft. Such notification allows affected persons to react quickly in the event of unauthorised changes.
BETTER PRIVACY
Under current law, organisations are often required to submit meeting minutes as documentation for registration, even though these may contain information that is subject to a duty of confidentiality or that is irrelevant to the purpose of registration.
From 1 January 2026, companies will be able to delete confidential information in protocols and other documents to be submitted to the registers. This strengthens privacy and reduces the risk of sensitive information going astray. It also allows for alternative ways of documenting the basis for registration, so that surplus information does not become publicly available.
SIMPLER AND MORE DIGITALISED PROCESSES
The laws facilitate more digitised and efficient reporting processes. The regulations will be more accessible and understandable, and there will be increased use of electronic communication. This will reduce the use of resources for both businesses and the Brønnøysund Register Centre, and contribute to more efficient public administration.
PRACTICAL CONSEQUENCES FOR YOU AS A BUSINESS OWNER
- Strengthened control over company information: The whistleblowing scheme provides better opportunities to detect and counteract unauthorised changes in the corporate structure, and can be an important tool against financial crime.
- Reduced risk when submitting documents: The ability to redact confidential information in minutes and similar documents will reduce the risk of sensitive information becoming publicly available and can simplify internal document management.
- Streamlining of reporting: Simplified regulations and increased digitalisation could reduce the need for external assistance with registration and submission, and result in lower administrative costs over time.
- Adaptation to modern business operations: The laws are designed to meet today's technological and organisational realities and will enable better interaction between businesses and public registers.
The new laws will thus contribute to increased security, better privacy and simpler processes for all organisations registered in the Register of Legal Entities and the Register of Business Enterprises.
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Our team of lawyers has extensive experience in company law and is happy to help you adapt your business to the new rules - or any other legal questions you may have. Contact us for a non-binding dialogue!
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