Perplexity AI explains it better than me:

Norway's updated exit tax, effective from March 20, 2024, imposes a 37.84% tax on latent capital gains exceeding NOK 500,000 [about USD 46 000] for individuals emigrating from Norway[1][3]. The tax must be settled within 12 years of departure, with options for immediate payment, interest-free installments over 12 years, or deferred payment with interest[1][3]. Additionally, the tax applies if the taxpayer dies abroad, and no foreign tax credit is available[1][3]. These changes aim to prevent wealth migration but have sparked controversy due to potential impacts on entrepreneurship and international talent attraction[3][5].

Citations:
[1] https://blogg.magnuslegal.no/en/this-is-the-norwegian-exit-tax
[2] https://taxsummaries.pwc.com/norway/individual/other-taxes
[3] https://www.lifeinnorway.net/exit-tax-changes/
[4] https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Norway.pdf.coredownload.inline.pdf
[5] https://meshcommunity.com/norway-30/
[6] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-when-you-move-abroad/
[7] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-residence-in-norway-when-moving-to-or-from-norway/
[8] https://taxsummaries.pwc.com/norway/individual/income-determination 

 But, these laws might be a violation of EU law (free movement of capital, we are bound of these EU regulations due to the EEA agreement between EU and NOR)