Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Finanstilsynet decision, including banking and payment rails.
Get an EMI license in Norway.
The single market without the EU: Norway's EEA membership gives a Finanstilsynet e-money licence full passporting into every EU state - from one of the world's richest, most cashless economies. We build the Norwegian file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Norway in brief
EEA passporting from outside the Union.
Norway licenses e-money institutions through Finanstilsynet under the Financial Enterprises Act (finansforetaksloven) and its regulation - the EEA transposition of EMD2 and PSD2. The mechanics are published and precise: €350,000 initial capital for the EMI (payment-institution tiers at €20,000, €50,000 and €125,000), an application fee of NOK 30,000 paid before processing begins, electronic filing through Altinn, and a normal processing time of three months once the fee is paid and the file is complete. Professional indemnity insurance applies where initiation or account-information services are in scope, and ongoing own funds must stay adequate to the risk.
The structural point founders miss: Norway is not in the EU, but its EEA membership means a Norwegian authorisation passports into every EU member state exactly as an EU licence does - the single market's rails without the Union's politics. The home market is a proving ground of its own: Vipps made mobile payments universal, cash has nearly vanished, and consumers are wealthy early adopters. The real caveats are kroner, not euros, and the financial activity tax - a 5% payroll surcharge plus a 25% corporate rate for financial-sector firms, which we model into every Norwegian plan. Realistic end-to-end: 8-14 months, run from our Oslo office.
Finanstilsynet licence under the Financial Enterprises Act: €350,000 EMI, NOK 30,000 fee before review, Altinn filing, ~3-month processing, and full EEA passporting into the EU.
The caveats, up front: kroner, and the finansskatt (25% CIT + 5% payroll for financial firms). Modelled, still competitive.
The two routes
Full EMI - or the payment-institution tier.
One supervisor, two entries: the e-money institution at €350,000, or payment-institution licences from €20,000. Both passporting across the whole EEA. We fix the scope first, then build once.
EMI at €350,000 - or PI tiers from €20,000, all passporting across the EEA.
01 - E-MONEY INSTITUTION
E-pengeforetak licence
The flagship Finanstilsynet authorisation: e-money issuance plus the payment-services list, €350,000 initial capital, safeguarding, and passporting into every EU/EEA state from Oslo.
The flagship Finanstilsynet authorisation: e-money issuance plus the payment-services list, €350,000 initial capital, safeguarding, and passporting into every EU/EEA state from Oslo.
- ✓E-money issuance and distribution
- ✓Full PSD2 payment-services list
- ✓€350,000 initial capital · own funds ongoing
- ✓Safeguarding of client funds
- ✓Full EEA passport - including the EU
- ✓NOK 30,000 fee · ~3-month review
02 - BETALINGSFORETAK ROUTES
Vipps-grade home marketPayment institution routes
Payment-institution licences run €20,000-€125,000 by service. Remittance to acquiring. With indemnity-backed PIS/AIS routes into one of the world's most digital payment markets.
PI tiers €20k-€125k; PIS/AIS with indemnity; Altinn filing; upgrade path to the EMI.
- ✓PI tiers - €20k / €50k / €125k by service
- ✓Money remittance and transfers
- ✓PIS/AIS with professional indemnity
- ✓Altinn electronic filing
- ✓Upgrade path to the EMI
- ✓Same Finanstilsynet supervision
Costs and timelines are confirmed for your case before any work begins. The NOK 30,000 application fee is paid before processing; capital, safeguarding and substance costs are itemised in your quote.
Why Norway
The passport is the point.
The framework is EMD2/PSD2 via the EEA agreement. A full single-market licence from a wealthy, cashless economy outside the Union.
✓
EEA passport into the EU
A Norwegian authorisation notifies into every EU member state exactly as an EU licence does. The single market's rails from a non-EU seat, a structural fact many founders discover too late.Non-EU seat, full single market.
✓
A published, paid, predictable process
NOK 30,000, Altinn filing, three months once fee and file are in. The process has a price tag and a clock, both published by the supervisor.NOK 30k; ~3 months from fee.
✓
The Vipps proving ground
Mobile payments are universal, cash is nearly gone and consumers are wealthy early adopters. Products that work in Norway are proven for everywhere.Universal mobile payments.
✓
Nordic institutional weight
Finanstilsynet's stamp reads first-rank with banks and counterparties across Europe. Nordic supervision is a brand, and Norway wears it.First-rank supervisory brand.
✓
A sovereign-grade economy
The world's largest sovereign fund, AAA credit and deep institutional stability stand behind the jurisdiction your licence calls home.AAA, fund-backed stability.
✓
PSD3-ready files
PSD3/PSR will flow into the EEA agreement as PSD2 did. We structure Norwegian files to convert rather than be rebuilt.Flows into the EEA - converts.
How it compares
How Norway differs from other routes.
Norway trades euro-denomination for EEA passporting and Nordic weight. The comparison is below.
Norway vs other jurisdictions
| Feature |  Norway | Other jurisdictions |
|---|---|---|
| Regulatory regime | Financial Enterprises Act - Finanstilsynet | EU-state transpositions |
| Passport | Full EEA - into the EU | EU/EEA from inside |
| Fee & clock | NOK 30,000 · ~3 months | Varies |
| Currency | NOK - euro via passporting | EUR native |
Regulatory regime
NorwayFinancial Enterprises Act - Finanstilsynet
Other jurisdictionsEU-state transpositions
Passport
NorwayFull EEA - into the EU
Other jurisdictionsEU/EEA from inside
Fee & clock
NorwayNOK 30,000 · ~3 months
Other jurisdictionsVaries
Currency
NorwayNOK - euro via passporting
Other jurisdictionsEUR native
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Norway | EMI (Finanstilsynet) | 25% + 5% finansskatt | EEA passport, NOK 30k fee |
 Denmark | EMI (Finanstilsynet DK) | 22% CIT | Free application, §50 on-ramp |
 Lithuania | EMI (Bank of Lithuania) | 17% CIT (2026) | CENTROlink, specialised desk |
 United Kingdom | EMI (FCA) | 25% CIT · 19% small | No EU passport post-Brexit |
NorwayLicense typeEMI (Finanstilsynet)
Taxation25% + 5% finansskatt
RequirementsEEA passport, NOK 30k fee
DenmarkLicense typeEMI (Finanstilsynet DK)
Taxation22% CIT
RequirementsFree application, §50 on-ramp
LithuaniaLicense typeEMI (Bank of Lithuania)
Taxation17% CIT (2026)
RequirementsCENTROlink, specialised desk
United KingdomLicense typeEMI (FCA)
Taxation25% CIT · 19% small
RequirementsNo EU passport post-Brexit
Before you apply
Requirements for the Finanstilsynet licence.Requirements for the licence.
The application form under the regulation publishes the file's contents. The craft is completeness before the clock starts. The checklist below is what a passing application contains.
01
Norwegian entity. An AS with its head office and management in Norway.
02
Initial capital - €350,000 for the EMI, evidenced and paid in; €20,000-€125,000 for PI tiers.
03
Fit and proper management and owners. Competence, clean records and ownership transparent to UBOs.
04
Programme of operations. Services, volumes and three-year projections the supervisor can interrogate.
05
Safeguarding. Segregated client-fund accounts or insurance, with documented reconciliation.
06
AML/CFT framework. KYC, monitoring and Økokrim reporting with a resident officer.
07
Professional indemnity. Where payment-initiation or account-information services are in scope.
08
IT and security documentation. Architecture, resilience and incident procedures.
09
Internal governance. Control functions, outsourcing register and conflicts procedures.
10
Fee and filing. NOK 30,000 paid with proof, the file submitted via Altinn, complete.
01
Norwegian AS, managed locally.
02
€350,000 capital (EMI).
03
Fit & proper holders to UBOs.
04
Interrogable programme of operations.
05
Safeguarding with reconciliation.
06
AML with resident officer (Økokrim).
07
Indemnity for PIS/AIS scope.
08
Solid IT documentation.
09
Governance and outsourcing register.
10
NOK 30,000 paid · Altinn filing.
Reflects the Financial Enterprises Act, its regulation and Finanstilsynet's published process as of 2026.Financial Enterprises Act + regulation, as of 2026.
How it works
From first call to the Finanstilsynet register.
01
Route and strategy
EMI or PI tier, EU-facing or Nordic-first. We fix the scope, capital and timeline in writing.EMI or PI; EU or Nordic first.
02
Norwegian company and people
AS formation, capital evidence and the resident officers the supervisor vets.AS, capital, resident officers.
03
The application file
Programme, safeguarding, AML and IT documentation to the regulation's form. Complete, via Altinn, fee paid.Complete via Altinn, fee paid.
04
Finanstilsynet review
Roughly three months once fee and complete file are in, question rounds answered - 8-14 months realistic end to end.~3 months from fee; 8-14 realistic.
05
Licence and launch
The register entry, EEA notifications into the EU and the reporting calendar. Live from Oslo.EEA notified, live from Oslo.
Quick facts
RegulatorFinanstilsynet (Norway)
EMI capital€350,000
PI tiers€20k / €50k / €125k
Application feeNOK 30,000 · before review
FilingAltinn - electronic
Review~3 months from fee + complete
Realistic timeline8-14 months
PassportFull EEA - into the EU
The clock starts when the fee is paid and the file is complete. Arriving complete is the entire game, and our job.
On the ground in Norway
Run from our Oslo office.
Prifinance - Norway
Oslo · Norway
Oslo, Norway
01
Norwegian company formation
AS incorporation, capital placement and the corporate layer Finanstilsynet expects. Structured for the licence from day one.AS + capital, structured for the file.
02
The Finanstilsynet file
Programme of operations, safeguarding design, AML pack and IT documentation to the regulation's form. Filed via Altinn, complete, with the fee proven.To the form, via Altinn, fee proven.
03
EEA passporting strategy
Notifications sequenced into the EU markets your model needs. The non-EU seat serving the whole single market by design.EU markets, sequenced.
04
Substance and staffing
Resident directors, compliance officer and MLRO from Oslo's financial talent pool. With the finansskatt payroll maths modelled without wishful thinking.Oslo talent; finansskatt modelled.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Norway.
The full picture: financial-sector firms pay 25% corporate tax plus a 5% payroll surcharge under the finansskatt. Modelled correctly, still competitive; ignored, a surprise.
Corporate tax 22% → 25%
The general rate is 22%, but companies liable to the financial activity tax pay 25% on profits. Payment institutions typically fall within the financial-sector definition, and we model both scenarios.22% general; sector test decides.
Finansskatt on payroll 5%
Financial-sector employers add a 5% surcharge on salaries where financial activities exceed 30% of payroll. A real cost line we build into every Norwegian plan.Payroll surcharge, sector K.
VAT-exempt payment services
Payment and e-money services are VAT-exempt financial services; the 25% standard rate touches only ordinary supplies.25% only on ordinary supplies.
Dividends - EEA exemption method
Corporate shareholders within the EEA are broadly exempt under the participation method; withholding applies outside with treaty relief.Participation method.
A sovereign-grade system
Norwegian tax administration is digital, consistent and rulings-friendly. The price of the sector surcharge buys total predictability.Digital, rulings-friendly.
Treaty network 85+
A deep treaty network across Europe and beyond. Group structures above the Norwegian entity model cleanly.Deep network.
Tax summary
Corporate tax (financial)25%
General corporate rate22%
Finansskatt on payroll5% · sector test
VAT on payment servicesExempt
Standard VAT25%
Dividends (EEA corporate)Broadly exempt
Tax treaties85+
*Figures as of 2026 per Skatteetaten. Finansskatt liability follows the activity test (sector K, 30% payroll). We model it before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Norwegian AS, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
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Norway · Finanstilsynet
Launch your payment project in Norway with expert support.
Full-service assistance - from AS registration to the Finanstilsynet licence, EEA passporting and ongoing compliance.
Get a consultation →Free legal opinion
Is Norway the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Norwegian EMI licence - the questions we hear.
What licence does an e-money business need in Norway?+
An e-pengeforetak authorisation from Finanstilsynet under the Financial Enterprises Act - €350,000 initial capital, safeguarding and full EEA passporting. Payment-institution tiers at €20,000-€125,000 sit alongside.
Does a Norwegian licence really passport into the EU?+
Yes - Norway's EEA membership extends EMD2/PSD2 passporting both ways. A Finanstilsynet authorisation notifies into every EU member state exactly as an EU licence would. The single market without the Union.
How long does licensing take, and what does it cost to apply?+
The application fee is NOK 30,000, paid before processing starts; normal processing is about three months once the fee is paid and the file is complete. Realistic end-to-end: 8-14 months.
What is the finansskatt and does it apply to EMIs?+
Norway's financial activity tax: a 5% payroll surcharge plus a 25% corporate rate (instead of 22%) for financial-sector companies - the test is activity-based (sector K, financial payroll over 30%). Payment institutions typically fall in scope; we model it into every plan as a line item.
What substance is expected?+
A Norwegian AS managed from Norway, resident fit-and-proper management, an AML officer reporting to Økokrim, real safeguarding arrangements, indemnity cover for PIS/AIS scope and solid systems documentation.
How are payment companies taxed overall?+
25% on profits for finansskatt-liable firms (22% general), the 5% payroll surcharge, VAT-exempt payment services and broadly exempt EEA corporate dividends under the participation method.
Why is the Norwegian home market attractive?+
Vipps made mobile payments universal, cash has nearly vanished and consumers are wealthy early adopters - a compact, high-signal proving ground for wallet and account-to-account products.
What about the currency?+
Norway runs on kroner - euro-denominated products are served through the EEA passport into euro markets, which is exactly how Norwegian-licensed institutions structure it.
What changes under PSD3?+
PSD3 and the PSR will flow into the EEA agreement as their predecessors did - files we build now are structured to convert into the unified payment-institution regime.
Why Norway rather than Denmark or Lithuania?+
Denmark offers the free application and §50 on-ramp; Lithuania the specialised desk and CENTROlink. Norway offers the EEA's unique position - a non-EU seat with full EU passporting - plus Nordic weight and the Vipps-grade home market. Models that value that combination know who they are.
What licence is needed?+
Finanstilsynet EMI - €350k; PI €20k-€125k.
EU passport?+
Yes - full EEA passporting into the EU.
Fee and clock?+
NOK 30,000; ~3 months from fee + complete.
Finansskatt?+
25% CIT + 5% payroll for financial firms.
Substance?+
Resident officers, real Norwegian ops.
Currency?+
NOK at home; EUR via the passport.
VAT?+
Payment services exempt.
The market?+
Vipps-universal, wealthy, cashless.
PSD3?+
Flows into the EEA - files convert.
Vs Denmark?+
Their free entry; Norway's unique passport.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Norwegian route fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of Finanstilsynet (the Financial Supervisory Authority of Norway) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.