Information for private individuals who are customers of Norwegian financial institutions

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Since 1 January 2016, Norwegian financial institutions have been obliged to record information regarding the tax residency of their customers and whether they are US citizens. They must also request the foreign tax identification number of these customers. The account information must be reported to the Norwegian Tax Administration, which will forward the information to the tax authorities in the customer's home country. The purpose of these rules is to ensure that financial income and assets in Norway are taxed correctly in the customer's home country. You may therefore be asked to state where you are resident for tax purpose, among other things.

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Where am I resident for tax purposes?

You are considered to be resident for tax purposes in a country if you have a permanent and strong affiliation to the country and are liable to pay tax there. You will normally be required to submit a tax return and be liable to pay tax on all of your income there. If you are resident for tax purposes in several countries, you must specify all of these countries to the financial institution.

You will be deemed to be resident for tax purposes in Norway if you have always lived in Norway and have only been on short holidays abroad. If you have a holiday property abroad where you live for short periods, you will not generally have a sufficiently strong affiliation to the country concerned to have established tax residence there. If you have lived for a longer period in another country, you may be considered as tax resident there.

If you live abroad, you will normally be tax resident in the country you live in. If you have moved from one country to another, or you spend a considerable amount of time in several countries, you may be tax resident both in the country you are moving from and the country you are moving to. You will be considered resident in Norway for tax purposes if you have lived in the country for more than 183 days over a 12-month period, or if you have lived in Norway for more than 270 days during the course of a 36-month period.

If you are uncertain about whether you are resident in a country for tax purposes, you must contact the tax authorities in the country concerned in order to clarify this.

Further information about tax residence in Norway is available here. The OECD has compiled some information regarding tax residence in individual countries, which can be found here.

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