At Astat, we’d like to offer an account to as many businesses as possible. But unfortunately, there are some business activities and industries we can’t support.
So before you apply for an account, we thought it would be useful to see a summary of who we can and can’t support.
We’ve tried to be as clear as possible and do our best to update this list as often as we can.
Key eligibility criteria
- Your business must be registered and trading in Norway.
- You’ll need to be a Norwegian resident and/or have a Norwegian Identity number.
- You’ll need a Norwegian phone number.
- You’ll need an iOS or Android device to open and manage the account. For Apple devices, you’ll need to be on iOS 12.2 or later and for Android you’ll need to be on 7.0 or later.
- Maximum account balance is 1 mill NOK for limited companies and sole traders.
- You have to be 18 or over to open an account.
Business types we support
A sole trader is someone who is self-employed and the sole owner of their business. They pay tax on business profits, via a self-assessment tax return.
We support most sole traders (depending on business activities) apart from partnerships where multiple sole traders are working together.
Limited companies are registered with Brønnøyssundregisterne, and will have at least one managing director. Here are a few requirements for limited companies:
- There are no limits to how many that can access the account.
- There needs to be at least one person of significant control (PSC) listed for your company.
- The person opening the account must be a director and a PSC.
- Your limited company must be in an ‘active’ state in Brønnøysundregisterne.
Business types we don't support
Here are some examples:
- A company with more than 1 million NOK in revenue.
Business activities we don't support
Here are some example activities and industries that we currently don’t support:
- Alcohol and tobacco manufacturing
- Adult entertainment or services
- Armaments and defence
- Pharmaceutical companies
- Some manufacturers (including manufacturers of rubber products, manufacturers of medical, dental or veterinary equipment, and others)
- Embassies and consulates
- Trust and company service providers – eg involvement in formation of other companies
- Money Service Businesses (MSB) – eg foreign exchange
- Virtual currency or crypto-currency
- Freight shipping
Is Astat not quite right for you?
Head over to our customer support section or contact our team directly in our chat to see what Astat can provide you.