GSL / Offshore and International Law / Offshore zones / Western Europe / Denmark / Legislation of Denmark

Legislation of Denmark

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List of laws and regulations

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List of state regulatory authorities

Corporate info

Legal system
civil law
Types of entity
private limited company (anpartsselskab, aps); public limited company (aktieselskab, a/s); general partnership (interessentskab, i/s); limited partnership (kommanditselskab, k/s); sole proprietorship; branch office
Shelf companies permitted
Yes
Incorporation timescale for a new company
1 day
Company suffix
Anpartsselska or ApS
Sensitive words
Bank, Building Society, Savings, Loans, Insurance, Assurance, Reinsurance, Fund Management, Investment Fund, Trust, Trustees, Chamber of Commerce, Co-operation, Council, Municipal
Cyrillic alphabet permitted in company name
No
Local registered office
No
Local registered agent
Yes
Information to be kept at the registered office
register of shareholders
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
not permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / no requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
80000
Minimum issued share capital
80000
Minimum paid share capital
80000
Authorized capital payment deadlines
Before registration
Issued capital payment deadlines
Before registration
Standard currency
Danish krone
Standard authorized share capital
80000
Standard par value of shares
100
Shares with no par value permitted
Yes
Bearer shares permitted
Yes

Taxes

Personal tax
~36-51%
Min. rate for corporate tax
22%
Corporate tax (in detail)
Income tax is paid at a rate of 22%. Some industries apply different rates.
Capital gains tax
Regular rate
Capital gains tax. Details
Capital gains are included in the total tax base.
VAT
25%
VAT. Details
The standard VAT rate is 25%.
Withholding tax
22%/22%/22%
Other taxes
real property tax, inheritance tax, social security contribution
Exchange control
No
Government fee
Stamp duty
0.6%

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
No
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Northern Europe
Total area
43.094 sq. km
Population
5.627.235 (2014)
Capital
Copenhagen
National currency
Danish krone
Conditional reduction of currency
DKK
Against USD
5.89
Climate, average max and min t°
Temperate; humid and overcast; mild, windy winters and cool summers; avg. maximum temperature (July) +26°; avg. minimum temperature (January) +8°
Time difference from Moscow
- 2 hours
Dialing code
+45
State language
Danish
Ethnic groups
Danish (89.6%) and immigrants (10.4%)
Literacy rate
99%
History
The Danes were first documented in written sources around 500 AD. Later, Danes took part in Viking raids which brought success and let the Dutch King control several countries at the same time, such as England and Norway. Denmark was long in disputes with Sweden over control of Skånelandene (Scanian War) and Norway, and in disputes with the Hanseatic League over the duchies of Schleswig (a Danish fief) and Holstein (a German fief). Eventually, Denmark lost the conflicts and ended up ceding first Skåneland to Sweden and later Schleswig-Holstein to the German Empire. After the eventual cession of Norway in 1814, Denmark retained control of the old Norwegian colonies of the Faroe Islands, Greenland and Iceland. During the 20th century Iceland gained independence, Greenland and the Faroese became integral parts of the Kingdom of Denmark and North Schleswig reunited with Denmark in 1920 after a referendum. During World War II Denmark was occupied by Nazi Germany and liberated in 1945, after which it joined the United Nations. It joined NATO in 1949 and the EEC (now the EU) in 1973.
Credit rating
AAA
Government type
Constitutional monarchy
Executive branch
Prime Minister and his Cabinet
Legislative branch
unicameral Parliament Folketing (179 members)
Judicial branch
Supreme Court, 2 land courts and local courts
Unemployment
7.1% (2013)
GDP per capita rank
6 (2013)
Corruption perceptions index rank
1 (2013)

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Banks of Denmark

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
1 820
1 614
10
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