How to start a business in Denmark

Denmark has a population of 5,613 million and a GNI (Gross National Income) per capita of 61,110 USD. Starting a new business venture here is relatively easy. In fact Denmark ranks 4^th in World’s Bank aggregate ranking on the ease of doing business (out of 189 economies). Here’s why:

• Where do you need to address to register your company?

To register your company you need to address the Danish Business Authority a one-stop national, service for business and tax registrations. You can find them here: www.webreg.dk

• How many days are necessary to complete all the legal procedures?

You only need to wait 5.5 days before your company is up and running

• How many procedures are necessary to start a business?

4 procedures are required to register your company. Here they are in detail:

1. Get a NemID signature

The NemID is a key card that allows you or your employees to conduct different actions online on behalf of the company in a safe environment. You can ask for up to 3 NemID’s free of charge. For additional ones you need to pay a fee.

2. Deposit the start-up capital

To deposit the company’s start-up capital you need to address a commercial bank. The minimum amount of money need for a start-up is DKK 50,000.00.

3. Register your company with the Danish Business Authority (DBA)

To register your company you need to go online to www.webreg.dk and fill in the registration form. After you have done so you are asked to electronically submit the Memorandum of Association and the Articles of Association of your company. For the entire process you have use your NemID. When the procedure is completed you will receive by email the company’s business identification number (CVR) and the conformation of its registration. Your company will automatically be enlisted on www.cvr.dk, where the National Gazette is published.

4. Register your employees

All your employees must be insured against accidents and occupational illnesses. To do this you need to choose an insurance company which will complete a form and register your company’s insurance policy with the DBA. To find out more about the insurance companies’ operating system you can go visit ww.forsikringogpension.dk.

So, what are you waiting for? Start your business in Denmark today and this time next week you can officially call yourself a Danish entrepreneur.