Better economy

There are a number of economic benefits by living and working far north in the country. Some of these are aimed at private persons and some are aimed at businesses located in Finnmark or Northern Troms.

If you are living in Finnmark:

Cancelling of student loans

Everyone living and working in Finnmark and Northern Troms may receive an annual cancelling of their students loan of up to 10% of the original loan amount – maximum NOK 25,000 per year. Demands set by the Norwegian State Educational Loan Fund must be met.

Less tax

Everyone living in Finnmark and Northern Troms who pays tax will recieve an automatic tax deduction of NOK 15,000 on their general income (tax class I) and NOK 30,000 (tax class II). National income tax is calculated at a rate 3.5% lower than for the rest of the country. If your annual income is between NOK 340,700 and 872,000 you pay 9.5% surtax in Finnmark and Northern Troms, while the rest of the country pays 13.5% surtax.

More on taxes here.

Extended child support

Families with children receives NOK 3,840 extra per child annually.

El-fee exemption on consumption

The exemption constitutes 9.5 øre/kWh and comes in addition to that Northern Norway is exempt for taxes on electrical power.

Better conditions from the Housing Bank

Loans from the Housing Bank may be increased with a further NOK 100,000 per resident compared to the usual rates. In addition homes in Finnmark and Northern Troms may receive loans for improvement and upkeep without a means test if the resident is at least 10 years old. More information on the Housing Bank's website.

If you are running a business in Finnmark:

Exemption from employer’s National Insurance contribution

Most businesses in Finnmark and Northern Troms are exempted from the employer’s National Insurance contribution.

El-fee exemption on consumption

Industries in Finnmark and Northern Troms is exempt from the 9.3 øre/kWh tax on electrical power.

Better conditions from Innovation Norway

Innovation Norway gives larger grants to development and physical investments in Finnmark and Northern Troms compared to the rest of the country.

Calculate your taxes here (in Norwegian only).
The calculator is provided by

Pictures
Top: As houseowner i Finnmark you get better conditions from the Housing Bank. (Picture: Trond Magne Henriksen)
Bottom: Innovation Norway provides better conditions for businesses in Finnmark. (Picture: Finnmark County Authority).