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Norway

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Country Details

Currency

Norwegian Krone (NOK)

Official language

Norwegian

Capital

Oslo

Is English spoken?

Yes

Time Zone

GMT + 1:00

Salary payment frequency

Determined by the parties

General Overview & Economic Facts

Information

The main exports from Norway are mineral fuels, petroleum, gas and fish
12.02% of the population is between the ages of 15 and 24 years, with 40.75% of the population being between the ages of 25 and 54. Norway has a fairly youthful population, making it a favourable country to employ young, energetic employees

Population size

53,91,369

GDP

$554B

Inflation level

5.80%

Average earning + minimum wage

Average earning : 637,800 NOK per year or 52,150 NOK per month.
min wage : There is not statutory minimum wage

Overview of the labour law

The main source of labour law in Norway is the Norwegian Working Environment Act, which sets out the provisions for employee protections and workers rights. In addition, collective bargaining agreements are applicable
The Norwegian labour laws protect employees against discrimination based on age, religion, sexual orientation and race

Employment Details

Number of Public Holidays

10

Working Hours

Maximum of 9 hours per day and 40 hours per weekMinimum of 30-minute meal interval after 8 hours of workTypical working hours are 08h00 to 17h00, Monday to Friday

Benefits
  • Health Insurance
  • Vision Insurance
  • Dental Insurance
  • Pension or 401(K)
  • Mental Health Support
  • Life and Disability Insurance
Overtime

Maximum of 200 hours per year and 25 hours per month

Notice Period

Employed between 0 and 5 years- 1 months’ notice Employed between 5 and 10 years- 2 months’ notice Employed for 10 or more years, age 50 and younger- 3 months’ notice Employed for 10 or more years, age 50 to 54 years- 4 months’ notice Employed for 10 or more years, age 55 to 59 years- 5 months’ notice Employed for 10 or more years, age 60 years and older- 6 months’ notice

Probation Period

No statutory probation periodEmployees can expect of probation period of a maximum of 6 months

Severance Pay

No statutory severance pay

Employee Income tax

Income tax is on worldwide income
Income bracket per annum

0.00 – 190,349.00
22.00%

190,350.00 – 267,899.00
22.00% base rate plus Income between NOK 190,350.00 – NOK 267,899.00 @ 1.70% bracket tax

267,900.00 – 643,799.00
22.00% base rate plus Income between NOK 267,900.00– NOK 643,799.00 @ 4.00% bracket tax

643,800.00 – 969,199.00
22.00% base rate plus Income between NOK 643,800.00 – NOK 969,199.00 @ 13.40% bracket tax

969,200.00 – 1,999,999.00
22.00% base rate plus Income between NOK 969,200.00 – NOK1,999,999.00 @ 16.40% bracket tax

2,000,000.00 or more
22.00% base rate plus income over NOK 2,000,000.00 @ 17.40%

Employer Social cost
Employee Social cost

Benefit packages

Health Insurance
Vision Insurance
Dental Insurance
Pension or 401(K)
Mental Health Support
Life and Disability Insurance

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