Business start-ups are encouraged in Denmark as businessmen find it very easy to deal with local authorities and are encouraged to innovate and invest. Furthermore, Denmark offers one of the quickest and simplest start-up procedures in the world. Starting a business in Denmark is an easy process that can be done in less than a day. Regarding the costs for starting a business in Denmark, certain aspects, such as the minimum share capital and the registration fee, should be taken into consideration. Our lawyers in Denmark can help you set up your business and offer you detailed information about the start-up costs.
The company set up costs depend on the type of company you have decided to set up. There are two kinds of expenses you should have in mind: the registration fee and the minimum amount of capital. You don`t need to invest any money as share capital and pay no registration fee if you start an unlimited company or a sole proprietorship in Denmark. If you decide to do business as an Entrepreneurial Limited Company (IVS), you need a share capital ranged between 1 DKK and 50,000 DKK. A registration fee of 670 DKK has to be paid. If a public limited company is your choice of business, you will need a minimum share capital of 500,000 DKK and 670 DKK for the registration fee. Only 50,000 DKK is the amount of money that you need for starting a private limited company and, again, the 670 DKK registration fee is added to the total costs. Our attorneys in Denmark will gladly answer any further question you may have on this matter.
The incorporation and registration of a new firm in Denmark can be done in four steps which involve several costs. These are the following:
• Bank's fee for opening a corporate bank account in Denmark, necessary for depositing the minimum share capital when setting up your company in this country;
• Register the company with the Danish Business Authority (DBA). This step can be performed on line and implies the registration of ownership and voting rights. After registration, the company becomes subject of taxation in Denmark;
• Obtain a NemID signature. This is a common secure login on the internet that allows you to access online banking services for your company, to contact public authorities on behalf of your company and to sign official documents and forms. You may request up to 3 NemID signatures for your employees. A charge of DKK 80 is paid for any extra NemID signature you solicit;
• Costs for registering employees with workmen`s insurance. Your employees have to be insured against occupational illness and industrial accidents.
If you want complete assessment of the costs involved when starting a business in Denmark, please contact our Danish law firm.
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