Brexit affects many areas of Norwegian economic life.

The structure of companies management is one of them. Under current regulations, CEO and at least half of the board of joint-stock companies and cooperatives, must be resident in Norway or a resident and citizen of another EU country. As of 1. January 2021, UK nationals will no longer meet this condition.

The Norwegian authorities are negotiating new terms of cooperation with United Kingdom. However, before an agreement is reached and the changes come into force, Norwegian companies have to ensure themselves, that their management complies with Norwegian law. It is possible to apply for an exception.

If you want to know more about the new regulations, please contact us.

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