Europe · Nordics
Norway
The cautionary tale of the decade: a wealth tax on unrealised value combined with a 12-year hard-stop exit tax has driven several hundred of the country's wealthiest citizens to Switzerland, and the door out is now closing.
Tax position
- Income tax (top)
- approximately 47.4% top marginal on employment income
- Capital gains
- 22% base; dividends and share gains multiplied by 1.72 for an effective 37.84%, less the shielding deduction
- Wealth tax
- yes — 1.0% between NOK 1.9m and NOK 21.5m, 1.1% above NOK 21.5m (NOK 3.8m threshold for married couples); shares valued at 80% of market value
- Inheritance tax
- none — abolished 2014
- Special regime
- none of note for UHNW inbound
- Territorial
- No — worldwide income taxed
- CFC rules
- Yes
- Exit tax
- Yes — leaving has a cost
- CRS
- Participating
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