License to operate as a bank
In order to operate as a bank in Norway, a license is required from the Norwegian authorities or an equivalent license issued within the European Economic Area (EEA).
About this form
Anyone who wishes to establish a finance company.
The articles of association and business plan for the institution's first three years of operation must be enclosed with the application. The specific requirements for the application are stipulated in Chapter 3 of the Financial Institutions Act.
Among other things, the granting of a license requires the bank to be founded with an amount which in Norwegian kroner corresponds to a minimum of EUR 5 million in total start-up capital. However, the amount of start-up capital must be in proportion to the planned activity.
Further requirements concerning the information that must be provided in an application are stipulated in Chapter 3 of the Financial Institutions Act.
Right to appeal
Applicants have a right to appeal under Section 28 of the Public Administration Act.
