Norwegian authorities in shock. Citizens of 'hostile' countries on list of company owners
New data from the publicly available ownership register shows that 1,031 companies in Norway are controlled by individuals with Russian, Chinese, or Iranian citizenship. This is the first time such broad insight into the real ownership structures on the Norwegian market has been possible. The information has caught the attention of institutions responsible for national security.
Russia, China, and Iran are often identified as countries posing security threats.
Fot. stock.adobe.com/licencja standardowa
The register reveals that 10 percent of Norwegian businesses have foreign owners. According to the data, 381 companies are controlled by people with Russian citizenship, and 12 by people residing in Russia. For China, these numbers are 378 and 32, respectively, while for Iran, 272 and about 10.
The Norwegian Tax Administration emphasizes that ownership structures can be complex, making it easier to conceal who actually controls the companies. The organization notes that such mechanisms can be used to avoid taxes, bypass sanctions, or finance illegal activities.
The Norwegian Tax Administration emphasizes that ownership structures can be complex, making it easier to conceal who actually controls the companies. The organization notes that such mechanisms can be used to avoid taxes, bypass sanctions, or finance illegal activities.
Supervision of critical infrastructure
Special attention has been paid to entities operating in areas considered critical infrastructure. Data shows that 15 such companies have beneficial owners with Russian citizenship, 10 with Chinese, and 11 with Iranian. These sectors include, among others, energy, transport, telecommunications, water supply, waste management, and electronic equipment manufacturing.
The Norwegian National Security Authority stresses that the mere foreign origin of owners is not a problem in itself but requires monitoring. The institution reminds that this is particularly important for companies covered by the Security Act.
The Norwegian National Security Authority stresses that the mere foreign origin of owners is not a problem in itself but requires monitoring. The institution reminds that this is particularly important for companies covered by the Security Act.
15 companies with critical infrastructure have owners with Russian citizenship.Photo: stock.adobe.com/standard license
Analysis and actions of the services
The increased interest in the topic is also influenced by the observations of the security services. The Security Service reports that Russia and China actively use investments and company takeovers to protect their own strategic interests. According to the services, this may include both gathering information and influencing the operations of Norwegian companies.
The Tax Administration points to previous cases where it was unclear who controlled elements of Norway's energy sector. The new register is intended to enable faster detection of such situations.
The Tax Administration points to previous cases where it was unclear who controlled elements of Norway's energy sector. The new register is intended to enable faster detection of such situations.
How do you rate this article?