Corporate compliance is the practice of ensuring a company conforms to all relevant laws, regulations, standards, and ethical practices. Every country in the Nordic region has its own corporate compliance rules, encompassing the composition and residency requirements of the board of directors, annual reporting and disclosure obligations, tax filings, and adherence to local labor laws.
Importance of local knowledge and presence
When establishing your business in the Nordic region, ongoing compliance is crucial, with local expertise being key to success. Sticking to the local regulations helps prevent legal penalties, protects the company’s reputation, and ensures ethical and sustainable business operations.
Read further to find out how to get ready for running business in the Nordics.
Your company’s corporate compliance in the Nordics
Nordic countries have numerous mandatory requirements regarding legal entities.
They concern among the other things:
- company’s Board of Directors composition and residency
- your corporate bank account
- company’s address
- company’s board of directors
- ongoing bookkeeping,
- payroll
- employee management
- annual reports
- document filing
- communication with authorities
- tax registration
- dissolution and liquidation
While the rules may vary slightly among the Nordic jurisdictions, many of the requirements, such as having a corporate address and a bank account, are actually the same.
Nordic corporate compliance services
To ensure your company’s corporate compliance, Nordic GEM offers a fixed fee package of secretarial services. Our services include:
- yearly Know Your Customer (KYC) and compliance checks
- drafting all the necessary documents required and holding the Annual General Meeting of the shareholders
- drafting the documents required and holding one regular Board Meeting per year
- filing the Annual Accounts
- informing about statutory deadlines well in advance
With the Corporate Secretarial Package, you leave Nordic GEM responsible for your annual corporate compliance and can concentrate on what you do best in any Nordic country!
Feel free to contact us if you have any questions!
