Denmark is a country that has many advantages for business owners. It is a very business-friendly country with low taxes, easy access to foreign markets and a well-educated workforce. However, there are also disadvantages that you should be aware of before you decide to set up your own business in Denmark.
When is it a good idea to start a company in Denmark?
The idea of starting a company has always been attractive. It is a way to become your own boss and make money. The problem is that many people do not know how to start a company. Many people think that it is complicated, expensive and time consuming. However, this is not true.
People who have a good, profitable trade in hand are more likely to become self-employed. If you are looking for an alternative to working full-time for an employer, self-employment is a good option. Industries such as construction, interior design and installation, medicine and IT are just some of them.
Owning your own business in Denmark requires compliance with the obligations that apply to every entrepreneur. You will need to do your own bookkeeping and pay your own taxes. However, you do not have to do this yourself – accounting and taxes in Denmark can also be done by an accounting office.
Starting a company in Denmark – what and how?
Starting a sole proprietorship in Denmark is not complicated. The procedure can be done online and is provided by the Danish Commerce and Enterprise Agency. The company will then receive a Central Company Register number (CVR).
In addition, the company should register in the Register of Foreign Service Providers (RUT), as well as with other authorities if necessary.
Help with setting up a business can be offered by accounting offices, which guide their clients step by step through the entire procedure.
Own business in Denmark – accounting, taxes, contributions
Every company in Denmark is obliged to keep accounts and pay taxes and contributions.
The costs associated with running a business in Denmark depend on the form of business and the income earned. In case you are a sole trader, the costs are not complicated – an accounting office can help you with this as it will take care of all the formalities and their timely completion.