Beneficial owners in foundations
Last updated: 24 October 2024.
Check if the foundation must register beneficial owners:
If the foundation has control over business activity outside the foundation through
- agreement
- ownership of shares
- ownership of companies
the foundation will have to register whether it has beneficial owners or not.
Worth knowing prior to the registration:
A beneficial owner is a Norwegian or foreign person who meets one or more of these criteria:
- are board members or general manager of the foundation
- has the right to appoint or remove more than half of the board members in the organisation
- has contributed primary capital to the foundation
- has been given special rights in connection with the establishment of the foundation
- has been listed as recipient (individuals who are to receive distributions from the foundation)
When there is no organisation between the person and the organisation subject to registration, the person is a beneficial owner on a direct basis.
Example:
A person who meets one or more of the criteria for being a beneficial owner through other organisations.
Other than individuals, organisations can also fulfill the criteria for being a beneficial owner in a foundation. In such cases, the beneficial owners of the organisation at the time it met the criteria are the beneficial owners of the foundation.
Example: If Company A provided primary capital to the foundation in 2024, then those who were the beneficial owners of company A at that time will be the beneficial owners of the foundation on an indirect basis for the position “Has contributed primary capital to the foundation.”
Due to a temporary technical issue in the form, please send us an e-mail to firmapost@brreg.no if you need to register anyone on an indirect basis in a foundation.
Most of the beneficial owners will be identified in the organisation’s documents, such as the memorandum and articles of association, the share register and shareholder agreements. Generally speaking, the information here will be sufficient to identify the beneficial owners.
The board is responsible for keeping information about the beneficial owners of the organisation.
- full name
- national identity number or d-number
If a beneficial owner does not have a national identity number or d-number, you must state the date of birth - country of residence
- all citizenships
- organisation number – when it is indirect ownership or control
You must indicate whether you are the beneficial owner due to ownership, voting rights or the right to appoint or remove board members, or control/influence in any other way.