Business accounts: Denmark

Updated 7 October 2026

An honest assessment before work starts, the quote is fixed in writing.

An account with a Danish bank is opened for a business linked to Denmark: registered in the country, selling to Danish customers, hiring staff or keeping a warehouse. Since 2025 the law has obliged the largest banks to open a basic account for such companies and to answer a complete application within 10 working days.

We assess your chances before work starts, prepare the file for the bank's review and handle the correspondence until the decision. The decision always rests with the bank, and a manager quotes the cost of support in the chat and fixes it in writing before work starts.

Who a Danish business account suits

A Danish company needs the account for settlements in kroner: salaries, taxes, rent, customer payments. It is also needed for dealings with the state: every company designates an account for payments from public bodies, such as tax refunds.

A foreign firm with no customers, staff or director in Denmark is usually not a fit for a Danish account: the bank sees no reason to open it, and such a company has no right to a basic account. In that case we immediately suggest another country or an account with a European payment institution.

Company first: how to open a business in Denmark

The account is opened for a Danish company, so the first step is registering a private limited company online through the Danish Business Authority portal. Minimum capital is $3,000; on registration the company receives a Central Business Register number, without which a bank will not start its review. Corporate tax is 22% and VAT is 25%.

The right to a basic business account

Since 1 January 2025 Danish businesses have had a right to a basic account. Systemically important banks and other large banks on the supervisor's list must open one for a company whose registered office and address are in Denmark and at least one member of whose executive management lives in the country. If there is no executive management, an owner holding at least 25% or one of the managers must live in Denmark.

• the account is kept in Danish kroner;
• it covers incoming payments, cash withdrawals, cash deposits of up to $3,000 a month, direct debits, a card with online payments and transfers, including standing orders;
• the bank opens the account or refuses no later than 10 working days after a complete application;
• a refusal is given in writing, free of charge and with reasons, and names the complaints board to turn to;
• the fee must be reasonable: the bank may factor in only its costs and a reasonable profit and may not tie the account to other services.

The bank may refuse on a closed list of grounds: the company did not provide the information needed for customer due diligence, there is a suspicion of money laundering, the company already has a payment account in Denmark with the same functions, it lacks a licence its activity requires, it cannot show a genuine interest in the account, or it has previously seriously breached its obligations to that bank.

Requirements and documents

• a register extract and the articles;
• the ownership structure up to the ultimate owner and identity documents of the owners and managers;
• a description of the business: what the company does, who its customers and suppliers are, which countries payments come from;
• expected turnover and the purpose of the account;
• source of capital documents;
• proof of the link to Denmark: contracts and invoices of Danish customers, an office or warehouse lease, employment contracts.

A director needs a Danish electronic ID to work with the bank and public portals. It takes longer for a foreigner to obtain, so a representative is often used at first.

How opening an account with a Danish bank works

Bank fees and mandatory payments

The state charges nothing for opening an account: payments go to the bank under its tariff. For a basic account the bank may charge only a reasonable fee. For an ordinary business account banks charge an opening fee and an annual fee for servicing and customer due diligence.

Amounts are converted to dollars at the Central Bank of Russia rate of 7 October 2026 and rounded up.

Why Danish banks decline

• The company has no real activity in Denmark: no customers, staff or office.
• No member of management lives in Denmark, so the company has no right to a basic account.
• The ownership structure has several layers and the ultimate beneficial owner is not fully disclosed.
• The source of capital is not documented.
• Counterparties in higher-risk countries without a clear business rationale.

We assess your chances before starting, prepare the file for the review and handle talks with the bank until it decides. If a Danish bank does not fit your profile, we immediately suggest another country or a European payment institution account for settlements.

Restrictions for certain nationalities

The law does not divide companies by the owners' citizenship, but the right to a basic account is tied to Denmark: without a member of executive management living in the country the bank is not obliged to open an account and decides for itself.

For nationals of Russia and Belarus without a residence permit in the European Union an EU regulation applies: a bank does not accept deposits from them above $120,000. Danish banks check companies with such owners particularly strictly. We check whether such owners can be served before the documents are prepared.

Capital, taxes and protection of funds

• The minimum capital of a private company is $3,000, paid into an account before registration, and the bank confirms it for the registry. The registration fee is $110.
• Corporate income tax is 22%. Value added tax registration is mandatory once turnover exceeds $7,500 over 12 months; the rate is 25%.
• Every Danish company designates a public payment account for payments from the state, such as tax refunds.
• Company deposits, like those of individuals, are protected by the state guarantee fund up to $120,000 per bank.

Reporting after the account is opened

A private company files its annual report electronically with the Danish Business Authority within 6 months of the financial year end; the deadline cannot be extended. A small company can skip the audit if for two consecutive years it does not exceed two of three thresholds: a balance sheet of $600,000, revenue of $1.2 million, 12 employees. The bank compares account turnover with these reports.

What we do

We assess your chances before work starts and say so plainly if a Danish account will not suit you. We check whether the company has a right to a basic account, prepare the file for the bank's review, file the application and handle the correspondence until the decision. After a refusal we prepare a complaint to the board or suggest an account in another country or with a European payment institution.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

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