Savings, can i bring them to Norway

Hej all, 
  i was wondering if anyone has experience in bringing their saving to Norway? will there be any tax issues?
I have noticed the Pound is getting stronger against the Kroner closer to pre 2008 so i am wondering if it is a good time to transfer my savings from the UK to Norway. Last time i did this it turned up on my Tax Return so i was wondering will there be a issue? last time i was asked where i got it from at the bank they asked if i sold a car but i just said it was saving.
  If anyone has done this or knows of any issues please let me know, also if you know who has the best going rate or reduced fees that would be grand

thanks

The only thing you need to worry about when transferring savings (apart from that you have the right account number, of course) is that your savings may become eligible for wealth tax.

I think the bank with the best rates is Sparebank1, but that may have changed.  The base rate right now is down at 1-1.5%, so you're not going to get spectacular rates right now on a savings account.

It should be no difference from a taxation perspective as it is mandatory to declare what you own on bank accounts abroad to Norwegian tax authorities if your fiscal domiciliation is in Norway. If you have failed to do so, the transfer of the money to Norway can trigger an inspection and a fine for the undeclared amounts. All "assets" including savings and life insurances are subject to a "formue" tax Norway if the net value (minus your debts) is more than 100 000 NOK

Thanks for both replies,
  i guess i have fiscal domiciliation in both norway and the uk as i never declared either officially, i have a permeant residency  here in Norway so does that mean i automatically choose Norway?
i don't have huge savings so i don't think i will hit the wealth tax bar and my savings are accounted for in all my UK Tax reports and the tax has been paid i just don't want to pay tax twice in Norway and UK.

If you have tax filling in both countries then it goes beyong my knowledge but I would guess that you should be fine.

New topic