Establish and register a housing cooperative
Here you can register a housing cooperative, and you can see what requirements apply to the establishing and the registration.
A housing cooperative has to register in the Register of Business Enterprises. The deadline is three months from the founding document has been signed by the founders.
The case will be under processing by one of our case officers within ten working days. You can see what date we have reached in our case waiting list on the page When will my case be processed.
In order to establish a housing cooperative, the founders must create a memorandum of association.
The founders are those who are entitled to subscribe for the shares in the cooperative. House building cooperatives or another contractor can establish the housing cooperative alone if they subscribe to at least two shares. Other founders must be at least two natural persons, and as a rule, each of them may own only one share. Subscription shall be made in the foundation document. The shares shall be of equal size and at least NOK 5,000 but not more than NOK 20,000.
Register the housing cooperative
When reporting a housing cooperative, you need to enclose
- memorandum of association
- articles of association
- building and financing plan
- opening balance sheet
- confirmation from the auditor that the opening balance sheet has been prepared in accordance with the provisions of the Accounting Act
- statement from the auditor confirming that the capital has been paid-up
- statement from the auditor confirming that they have taken on the assignment
The board members must through the form Coordinated register notification confirm that they have taken on the assignment. The same must be done by an accountant, if any.
The memorandum of association must contain a minimum of information, such as
- the name of the housing cooperative
- the articles of association
- name and national ID number or organisation number of all the founders
- address to all the founders
- an overview of the owners of the shares
- date of payment of the shares
- information about who has been elected to the board and auditor
The memorandum of association must be signed by the founders.
The statutes must contain a minimum of information, such as
- the name of the housing cooperative, which must contain the word housing cooperative or the abbreviation BRL
- the municipality where the enterprise is to have its registered business office
- nominal value of the shares
- the minimum and the maximum number of board members
- the issues that the annual general meeting must deal with
- approval of the annual account and the annual report
- other matters which according to the law or the statutes belong to the general meeting
In addition, the statutes must state if the housing cooperative has no business manager.
The building and financing plan must include
- drawings
- description of the enterprise’s building with apartments
- cost estimates
- financing plan
- operating budget
The plan must show which apartment is associated with each share, and the distribution of the common costs.