These emails are designed for those investing into Denmark and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.
February 2022
- Denmark has the oldest national flag in the world. First acknowledged in 1219, the Danish flag “Dannebrog” remains the oldest in the world still in use by an independent nation.
- The standard rate of VAT in Denmark is 25%. There are few exceptions and no other rates.
- Of the world’s approximately 200 countries, Denmark is currently one of only 11 countries with a credit rating of AAA (highest level of credit worthiness, exceptional stability of the economy) by major credit rating agencies.
- Denmark has two primary corporate forms, the ApS (the private company form) and the A/S (the public company form).
- Danish companies are exempt from tax on income and gains from foreign real estate and permanent establishments.
- According to Transparency International’s Corruption Perception Index Denmark is, for the fourth time, listed as the least corrupt country in the world together with New Zealand and Finland. The top ranking is vastly due to Denmark’s high degree of press freedom, access to information about public expenditure, stronger standards of integrity for public officials, and independent judicial systems.
- Despite being a civil law country, the role of the notary public in Denmark is very limited as regards companies.
- Like many other civil law jurisdictions Denmark has a legal entity that can be described as a partnership limited by shares (a P/S).
- Danish income tax is levied by the national government only, but for individuals the rate of tax depends on the council area where the taxpayer resides.
- The Danish language has no word for “please”; instead a favour is phrased with several words, such as “could you kindly pass me the salt and pepper”.
This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice.