The Kingdom of Denmark is an independent progressive state located in Northern Europe, occupying the territory of the Jutland peninsula and 409 more islands (including Zeeland, Bornholm). Denmark is a prestigious European jurisdiction for international business
Denmark is not included in the number of offshore companies in the classical sense of the word, all profits received anywhere in the world are subject to taxation in Denmark.
Registration of a Danish company in this jurisdiction will increase the reputation of your business. Very popular: Danish Limited Partnership (K / S) and Danish Limited Liability Company (APS) These types of companies are used both for trading and for holding. A wide range of organizational and legal forms allows the investor to establish a company that best suits the investment project.
Types of companies in Denmark:
- Opening a subsidiary in Denmark
- General partnership in Denmark
- Public limited company
- Limited partnership
- Private Limited Company
Advantages of jurisdiction
Registration of a company in Denmark is a popular procedure due to several objective reasons:
- the prestige of the country;
- developed economic and investment infrastructure;
- transparent Danish legislation and government support for non-residents;
- tax incentives;
- confidentiality through the use of a nominee service;
- existence of treaties on the elimination of double tax burden with many countries.
Forms of the existence of companies
Registration of a company in Denmark can be carried out in one of the following forms:
- open joint-stock company – at least three founders;
- CJSC with limited liability individuals or legal entities – at least one founder;
- limited partnerships – at least one general director with unlimited liability and one partner with limited liability;
- branches, representative offices of foreign companies in Denmark.
The most common forms in which the registration and maintenance of a company in Denmark are carried out are limited liability partnerships (K / S) and ZAO (ApS).
To establish a company in Denmark, you will need to deposit at least a quarter of the authorized capital (from 10,800 euros) to the account opened by the company in advance. Before registering, business founders must hire management (1-3 people minimum) and, if desired, a secretary. His presence is not included in the list of mandatory requirements for companies. The manager of the company (he is required) must be a resident, citizen of Denmark, or one of the EU countries.
A prerequisite for starting a business, the fulfillment of which is checked, is obtaining a registration address. A company in Denmark must have an office in the country. However, if it is established as a partnership with non-resident enterprises, a “physical” presence in the state is not necessary. Entrepreneurs from the countries of the former USSR and several other states (except for Scandinavia, the European Union, and Switzerland) are required to obtain a temporary residence permit in Denmark for legal activity – it can be obtained, in particular, under the employment and start-up assistance program.
To start a company in Denmark, the founders must:
- issue a digital signature – online, on a specialized website;
- pay corporate tax;
- open an account in one of the banks in Denmark and deposit capital into it (minimum – 6,700 euros);
- draw up identification documents with passport data for the registering authority. TIN, address of permanent residence;
- submit documentation online, through the DBA system, while registering as a taxpayer in Denmark.
If the documents are drawn up correctly, the company receives a CVR registration code and can take out personnel insurance. All registration processes must be completed 8 days or more before the first business transaction. On average, it takes up to three weeks to open a business in Denmark, depending on the form, size of the business, and the need to obtain a license. It is mandatory if the firm is engaged in insurance, banking, trusteeship or trust management, collective investment, controls funds, etc.
When working in Denmark, companies must submit financial statements for each period and tax registers, which are sent simultaneously with the result of the audit.