Aksjeselskap is the Norwegian term for a
stock-based company. It is usually abbreviated AS or A/S, especially when used in company names. An AS is always a limited company, i.e. the owners cannot be held liable for any debt beyond the stock capital. Public companies are called Allmennaksjeselskapor ASA while companies without limited liability are called Ansvarlig selskapor ANS.
All AS companies must have a stock capital of at least NOK 100,000. In addition they must have a
board of directorsand an auditor. They may choose to have a Managing Director. If the company has assets exceeding NOK 3 million, the board must have at least three members and the Managing Director cannot be Chairman of the Board. Though not required by law, practically all Norwegian companies have a fiscal yearrunning from January to December, though some foreign subsidiariesmay have a different fiscal year to match the corporation.
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