31th of March 2008 – Warsaw – Torsten Grunwald Starting a limited liability company in Denmark

31th of March 2008 – Warsaw – Torsten Grunwald

Starting a limited liability company

in Denmark

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Background 1/3

• 150.000 public and private limited liability companies.

• 25.000 new limited liability companies per year.

• 20.000 created online at the business portal Virk.dk.

• Usually, lawyers or accountants carry out a company registration.

• Self-service solutions at Virk.dk are options, not mandatory tools.

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Background 2/3

• Online company registration at Virk.dk: getting the registration number and the authorization to operate (10 minutes).

• Publication of business information at Virk.dk (in a few seconds).

• Within half a year, most companies will register VAT by electronic form at Virk.dk: getting the right to sell and buy larger amounts of goods and services (3 days).

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Background 3/3

• An electronic signature is the key for online registrations with the public authorities in Denmark.

• Distributed by TDC, the largest mobile communication company in Denmark.

• Users order it (for free) at TDC’s website.

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Starting a company at Virk.dk

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Front page of Virk.dk

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Signing to start

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Founder, articles, costs

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Type and price of capital

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Accountant signing value contribution

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Completing business registration

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Receiving certificate and business number

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Publication at Virk.dk

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VAT registration at Virk.dk

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More registration tools at Virk.dk

• Registration of new company information: management, name, address, board of directors, capital, articles of association (10 minutes).

• Online registration of new sole trader information: name, address, importation, trade, duties (10 minutes).

• De-registration of sole traders, VAT, importation and other duties (10 minutes).

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Development 2003-2007

Registration of Danish companies

0

10

20

30

40

50

60

70

80

90

100

2003 2004 2005 2006 2007

Year

Per

cen

tag

e

Online

Paper form

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Initiatives 2008-2009

• Mandatory to register companies online at Virk.dk.

• Mandatory to register new company information like management, adress and board of directors at Virk.dk.