In Norway, income tax is only half the story. If your net wealth exceeds 1.7 million NOK, the state takes up to 1% of everything you own — every single year. Your bank account, your shares, your cabin. Even your own home counts, though at a reduced valuation.
In this short: how the Norwegian wealth tax (formuessskatt) actually works, why your house is valued at 25% but your shares at 100%, and why some of Norway’s richest people now live in Switzerland.
I’m Norwegian. This is how it actually works from the inside — no advice, no judgment, just the mechanism.
Chapters: 0:00 — You paid tax on it already. Now pay again. 0:09 — The ledger: everything you own, minus what you owe 0:22 — 1.7 million NOK threshold, 1% per year 0:32 — Your home at 25%. Your shares at 100%. 0:42 — Why the billionaires left for Switzerland
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The part that surprises most people: your primary home only counts at 25% of its market value — but listed shares count at 100%. Ask me anything about how the system actually works day to day. (And no, this is not financial advice — I’m just Norwegian.)