While documentation of beneficial owners has been mandatory since 2021, the Act on the Register of Beneficial Owners, effective 1 October  2024, introduces a registration obligation starting 31 July 2025.

Norway’s Ministry of Finance announced amendments to several laws and regulations, including a key change requiring the registration of beneficial ownership information on 25 June 2025.

While documentation of beneficial owners has been mandatory since 2021, the Act on the Register of Beneficial Owners, effective 1 October  2024, introduces a registration obligation starting 31 July 2025.

From 1 October  2024, companies and legal entities must register their beneficial ownership information, aligning with the deadline for submitting 2024 annual accounts, which will be established in the Brønnøysund Registers. From 1 August 2025, the Brønnøysund Register Centre will enforce compliance and issue fines for non-registration.

According to the finance ministry, the register of beneficial owners will enhance transparency in Norwegian companies and aid the fight against money laundering, terrorist financing, and economic crime.

A beneficial owner is someone who owns over 25% of shares, controls over 25% of voting rights, can appoint or remove most board members, or holds significant influence.