Expat financial advice from the experts

Retire in Norway- The Expat Guide.

retire in Norway

You’re coming up to retirement, or perhaps you’ve already been enjoying it for some years, but what now? What do you do when suddenly your life becomes free time? When you can start living the work free life you’ve dreamed off? You retire in Norway!

The InterNations Expat Insider report of 2016 saw Norway excelling in areas such as security, health and the environment. Just what you need in retirement to feel safe and risk free.

Right of Residency

It’s important to note that Norway, unlike most countries, doesn’t offer a specific retirement visa. As such, you must already have permanent residency or enough money to sustain yourself (and/or your family) in order to retire in Norway without working. To obtain the permanent right to live in the Nordic country you must have either been born there, lived there for five years (for citizens of the EEA) or for seven years for everyone else. Continuing, without a permit, EU citizens need to register under the EEA registration scheme and be able to prove an income of NOK 179,748 (£17,000 approx) a year. This can come from pensions or other private funds. All EU citizens must also hold a valid EHIC card to live in Norway, this can easily be obtained online.

Living in Norway

Norway is full of picturesque landscapes, mountain ranges and lakes. But, be prepared for the cold winters, the average temperature in January is -6℃. Norway is also known for having a high cost of living. This means that having a large (and growing) pension is important in enjoying retirement in Norway.

Take your pension with you and help it grow

Of course, after working for years you’re not going to leave it behind. With that said, however, growing it can also be easier than you thought and help you to enjoy the high standard of living in Norway. Transferring your pension to a Self Invested Personal Pension (SIPP) allows you full to transfer and consolidate all your pensions into one place, and invest the money inside. You’ll also have full access to the account and be able to take regular or variable withdrawals, to support your living costs.

If you’ve exceeded or are close to exceeding your Lifetime Allowance a Qualified Recognised Overseas Pension Scheme (QROPS) may be more suitable. Similarly, this will allow you to transfer and consolidate all your pensions into one pot so that you can use it easily and efficiently.


A new Double Taxation Agreement between Norway and the UK states that if you were to leave your pension in the UK, whilst living as a resident in Norway, it may be subject to tax in both the UK and Norway.

To avoid Double Taxation a QROPS can be used. A QROPS in Gibraltar paid to a resident of Norway, for example, would be taxable in both countries. However, the current Gibraltan tax rate on pensions is just 2.5% – drastically lower than the UK’s. To find out which QROPS or pension option best suits your situation we strongly recommend speaking to a qualified financial adviser.

How we can help

Harrison Brook are qualified and experienced in all matters expat. We will provide tailored pension transfer advice, money growing methods, currency exchanges and much more. So, if you want to retire in Norway get in touch today!

See how Harrison Brook's Financial Advisers can help

Get Started