Stian Strand

The Norwegian government is killing their startup scene. The tax system was already bad enough for entrepreneurs, but now they’re taking it even further. If you leave the country having raised money for your startup, you’ll now have to pay an exit tax of >30% of your startup’s valuation - even if you never got a dollar out of the startup personally! Imagine a co-founder owning 30% of their $10m seed startup. They’d have to pay $1m+ in taxes if they leave the country. And it’ll only get worse as you raise later rounds. As a consequence, you’ll be kept hostage as a founder in Norway. It’s effectively becoming the Cuba of the Nordics. It’s especially sad given that Norway’s economy is extremely reliant on fossil fuels - and entrepreneurs are the only way to diversify the economy. The message here is clear: If you’re about to found a startup in Norway, make sure you move first.