Starting A Company In Denmark Iværk09 workshop

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    Notes on slide 1

    Right now means right now

    You could choose to start a company anywhere in the world

    Flexicurity Macro economi

    Focus: Denmark wants you to succeed as entrepreneurs. Lots of money, support services. government focus on being top entrepreneurial country Innovation: no natural resources, small (shrinking) population, so have to innovate their way to the top Positioning: there are trends in startups as well, DK super positioned with biotech and green tech (upcoming conference)

    Corporate tax rate at 25% is very competitive for Europe Personal tax rate in the top bracket is going down from 59% to 51.5%

    18 years old Legal resident

    Doesn’t mean the bank won’t ask you to provide personal collateral for a loan to your company. Can deduct Personsk. loss (fradrag)

    Kapitals. has to be registered at Erhvers og Selskabsstyrelsen (Danich Commerce and Companies Agency); shareholder agreements; rules on board member elections, etc.

    Allows you to do everything from home

    Latest 8 days before start of company activity if Enkelt. and expect to make less than 50K, then no registration necessary - however you need a VAT no.

    Not available in English Very straightforward, get help from Danish speaking friend

    Look forward to meeting you later

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    Starting A Company In Denmark Iværk09 workshop - Presentation Transcript

    1. Starting a company in Denmark right now
    2. InSilicoMobile.dk Yellowman.dk
    3.  
    4.  
    5. Startupdenmark.ning.com
    6. Why Denmark?
      • Macro-economic stability
      • Flexicurity
      • Infrastructure
    8. Startup environment
    9. + _ + Focus + Innovation + Positioning
      • Home market
      • Fat cats
      • Taxes?
    10. Corporate tax Source: Wikipedia.org
    11. Basics
    12. Kapitalselskab Personselskab
      • Company liability
      • Limited personal liability
      • Company taxable
      • Results audited & published
      • Participant(s) liability
      • Participant(s) taxable
      • Results private
      Source: ”Start din egen virksomhed”, S. Juhl & M. Einshøj Owners Participant(s)
    13. Kapitalselskab Personselskab
      • Anpartsselskab (ApS)
        • Private limited company
        • 125K DKK capital contribution
        • Limited liability
      • Aktieselskab (A/S)
        • Limited company
        • 500K DKK capital contribution
        • Limited liability
      Others (K/S, Amba)
      • Interessentskab (I/S)
        • Partnership company
        • No capital contribution
        • Joint liability
      • Enkeltmandsvirksomhed
        • Personally owned company
        • No capital contribution
        • Full liability
    14. Kapitalselskab ? Personselskab ?
      • Fast start
        • No registration (have to register VAT)
        • No upfront capital
        • Freedom how to organise
      • Little admin
        • No financial reporting
      • Risk
        • Creditors can chase richest partners
        • Partner disagreement
      • Reduce personal risk
        • Product liability
        • Creditors & banks
        • Customers
      • Several owners
        • Legal structure
        • IPO possible (A/S only)
      • Costlier
        • Financial reporting
        • Tighter regulations
    15. 58.679 new companies in 2005 Source: ”Start din egen virksomhed”, S. Juhl & M. Einshøj
    16. Source: Copenhagen Capacity (”A step-by-step-guide”) CPR Work & residence permit CVR (ApS or A/S) Establish company VAT (moms) Register with Skat BANK Open bank account DKK (ApS or A/S) Hire an accountant
    17. www.digitalsignatur.dk Digital signature
    18. Webreg (web registration) www.webreg.dk
    19. Virk (virkshomhed) 2-page form www.virk.dk
    20. 2-page form
    21. Information
    22. Skat Refer to www.100svar.dk (English)
    23. CVR Central Virksomheds- register Download reports on 550.000+ companies www.cvr.dk
    24. Information
    25. Danmarks statistik www.dst.dk
    26. Copenhagen Capacity www.copcap.dk
    27. 100svar www.100svar.dk
    28. Networking
    29. CONNECT Denmark Non-profit ’ Springboard’ www.connectdenmark.dk
    30. Expat network www.expatindenmark.com
    31. Work- trotter www.worktrotter.dk
    32. Business case
    33. Venture Cup partner with a student www.venturecup.dk
    34. Incubators
    35. Innovations- miljøer www.fi.dk
    36. Venture capital
    37. Vækstfonden www.vf.dk
    38. Danish Venture Capital Association www.dvca.dk
    39. Education
    40. Øresund Entrepreneurship Academy www.oeacademy.org
    41. Overview
    42.  
    43. Go for it !!
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