Management of mutual funds and alternative investment funds may only be operated by limited companies headquartered in Norway.
"Chapter 2. Management companies
§ 2-1. Requirement for permission
(1) Mutual fund management may only be operated by limited companies or public limited companies with permission from Finanstilsynet.
[...]
§ 2-3. Terms of permission
(1) It is a condition for permission that board members and senior executives meet the requirements for good conduct and experience as mentioned in § 2-7 first and second paragraphs.
(2) An application for a license may be rejected if a shareholder with a significant ownership interest in the company is not considered suitable to ensure good and sensible management of the company.
(3) The management company shall have its business office and head office in Norway.
(4) The management company's articles of association and amendments thereto shall be approved by Finanstilsynet.
(5) Permission may only be granted after consultation with the authorities of the EEA State concerned if the applicant is:
1. subsidiaries of investment firms, credit institutions, mutual fund management companies or insurance companies authorized in another EEA State,
2. subsidiary of a parent company for an undertaking as referred to in paragraph 1 with a license in another EEA State, or
3. controlled by the same natural or legal persons who control an undertaking as referred to in paragraph 1 with the authorization of another Member State. [...]" (Mutual Funds Act (LOV-2011-11-25-44), last amended 01.07.2021, §§ 2-1 and 2-2 [google translation])
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"§ 2-2. Permission to manage alternative investment funds and other services
(1) Management of alternative investment funds may only be conducted with the permission of Finanstilsynet. 
[...]
§ 2-4. Terms of permission
(1) Permission for an external manager can only be granted to a limited company or public limited company with a business office and head office in Norway. [...]" (Act on the management of alternative investment funds (LOV-2014-06-20-28), last amended 01.07.2021, §§ 2-2 and 2-4 [google translation])
Mutual Funds Act (LOV-2011-11-25-44), last amended 01.07.2021, §§ 2-1 and 2-2
Act on the management of alternative investment funds (LOV-2014-06-20-28), last amended 01.07.2021, §§ 2-2 and 2-4
[<a href="https://lovdata.no/dokument/NL/lov/2011-11-25-44">Act</a>],[<a href="https://lovdata.no/dokument/NL/lov/2014-06-20-28">Act</a>]