Dividends from Norwegian companies to foreign shareholders As of 1 January 2018, new rules apply concerning withholding taxation of dividends from Norwegian companies to foreign shareholders at a reduced rate compared to the ordinary rate of 25 per cent. Under the new rules, documentation requirements are introduced for registering shares on an account in the Norwegian Central Securities Depository (VPS) at a lower withholding tax rate than 25 per cent.Documentary requirements for VPS-registered shares Shares that are registered on an account in the actual dividend recipient's name (direct registration) may only be on an account with a withholding tax rate of less than 25 per cent when the following information has been submitted to the account operator: A certificate of residence issued by the tax authorities in the shareholder's country of residence, expressly confirming that the shareholder is resident there in accordance with the relevant double tax treaty with Norway. The certificate of residence must not be older than three years at the time of the dividend payment. A valid certificate of residence must be available at the time of registration, and it must be renewed every three years. Confirmation from the dividend recipient that they are the beneficial owner of the dividend.