Dania Accounting needs the following from you to establish your limited liability company:
1) Name of the company – to avoid legal issues with other companies, check that the name is not already in use. You can plug your company name into the public CVR registry:
to check this. You should also ensure that the internet domain isn’t already in use. A legal dispute may arise if an internet domain is already being used, that has the same name as you want to use as your company name (it could be another company abroad f.ex.).
2) Company address – an address is required to apply. Many clients use their private address in the beginning, since they often start from home without an outside office. This is not necessarily legal due to local rules about what you can use a private residence for, so, on occasion, the company registration is declined. This happens very rarely though, but if it does, you must find a new “real” company address for the company.
3) Info about who is establishing the company – we’ll need the name, address, and CPR number of the individual – or individuals – establishing the company. This could be a single person or several; we need information from all establishing participants. Those who do not have a Danish CPR number must provide their name and address.
4) ID for everyone establishing the company – for Danish residents, we’ll need a passport scan and a scan of the yellow health insurance, which lists your name and address. If you’re not a Danish resident, we need proof of your private address (scan of utility bill – electricity, phone, etc. – stating name and address), as well as a passport scan or official photo ID copy.
5) Your start date – you must designate a date for the commencement of business activities. Choose a strategic date. You’re allowed to include 18 months in the company’s first fiscal year, and we recommend you use the calendar year as your fiscal year. For example, if you start your business on December 31st, you’ll have a VAT declaration for the fourth quarter (for that 1 day), and you’ll have to submit an annual report for the whole year (even though it is only 1 day), if you choose the same year as the first year. So, in this example, January 1st would be a more strategic start-date, since you’ll then have a full year until you must submit your annual report and tax declaration. Or you could make the first fiscal year ranging from 31st of December to 31st of December the following year (365 + 1 days). Dania Accounting recommends that you consider picking the first day in a quarter to optimize planning and also reduce your costs.
6) Company statutes and purpose – we must write statutes for the company and, within them, write a short statement about what the company will do. For example, “The company will be selling goods to private people,” or, “The company will be developing apps,” etc. We need you to write a small description of what the company will be working with, then we will add this to the statutes.
7) One or more individuals designated to sign on the company’s behalf – you must decide who will sign all legal documents on behalf of the company. Normally in Denmark, the managing director’s signature, alone, is needed. If the company enters into a contract – be it anything from signing up with a phone company to leasing a new car – the managing director will hold the pen. Designating two managers as signees will provide some security, and this requirement must be written into the documents when you establish the business. You need to decide having one or more signees. Dania Accounting recommends having the managing director as the only signee.
8) Info about the managing director – A managing director must also be chosen, and if you’d like to have a board of management, the members should be designated. Your list should include the name, private address, and CPR number of the managing director (and board members, if applicable). If the managing director is not a Danish resident, we’ll only need his/her name and address. You can have more than one managing director if required, but we recommend just having one managing director and no board of management.
9) ID for the managing director – we’ll need a scan of the managing director’s passport or photo ID, as well as a copy of their yellow health insurance certificate. Those who are not Danish residents must provide proof of address (utility bill – electricity, phone, etc. – stating name and address), as well as a scan of passport or official photo ID copy.
10) Equity capital needed to establish the company – include in your documentation the amount of equity capital you want, which is a minimum of 50.000 DKK for an ApS and can be anywhere from 1 DKK to 49.999 DKK for an IVS. If you’re establishing an IVS, we recommend that you do not go with 1 DKK. This is because IVS and ApS companies are required to have a shareholder meeting, when they’ve spent 50% of the capital. Instead, look at your initial costs for the beginning. If you have 5.000 DKK in costs for establishing the IVS, for example, then at least 10.000 DKK should be declared as equity, because this is double your projected costs. Then you avoid the hazzle of having to do a shareholder meeting the first week after starting.
11) Info for owners – if you have multiple owners, you must list the percentage each person will own, along with the name, address, and CPR number of each owner.
12) ID for the owners – we’ll need a scan of the owner’s passport or photo ID, as well as a scan of their yellow health insurance certificate. Those who are not Danish residents must provide proof of address (utility bill – electricity, phone, etc. – stating name and address), as well as a passport or official photo ID copy.
13) Name and email address of the bank counselor – in Denmark, it can be difficult to find a bank willing to create an account for a limited liability company, especially as you’re starting out. When you do secure one, provide us the name of your bank counselor and their email address. Also, notify them that they’ll receive an email when we register the company, where they’ll be asked to confirm that the company’s equity capital has been deposited into this new bank account.
Do you have any questions?
Please send us an email: firstname.lastname@example.org
Listen to our podcasts and learn more about us, tax, vat, how to start a company and much more: