Personal accounts: Denmark
An honest assessment before work starts, the quote is fixed in writing.
Denmark is an EU member with its own currency, the Danish krone, pegged firmly to the euro. Banking is almost entirely digital: the account, transfers, taxes and government services all run through an electronic ID (MitID), and getting it requires a Danish personal identification number (CPR). So personal accounts here are opened mainly by those moving to Denmark for work, study or family.
The CPR number - the key to an account
Every Danish resident is entered in the population register and receives a CPR number. With it you open an account, receive salary and healthcare, and get the electronic ID for online banking and government services. Without a CPR number Danish banks usually will not open an account, or offer only a limited basic account. The number is issued after registering at an address in Denmark, once you have the right to live in the country.
| Your status | Chances | What else the bank asks for |
|---|---|---|
| Living in Denmark with a CPR number | high | health insurance card with the number, lease or employment contract |
| Just arrived, number in progress | medium | registration confirmation, an employer or school letter |
| Lawfully living in another EU country | medium | the right to a basic account if you have no other account in Denmark |
| Non-EU non-resident with no link to Denmark | low | private banking for large assets |
We will calculate online the cost of opening a personal account and maintaining it for a year.
Documents needed
- Passport and Danish CPR number.
- Residence permit or EU registration certificate.
- Proof of address in Denmark.
- An employment contract, a school letter or proof of income.
- A form with tax residence: banks report foreigners' accounts to their country of residence.
An account for salary and taxes
Employers in Denmark pay salary to a special payout account (NemKonto) linked to the CPR number, and the state also pays tax refunds there. So once you have the number, the account should be opened and set as the payout account in the first weeks of work. Payments between people in Denmark usually go through banks' mobile apps linked to the account and phone number.
Tax and interest
A Danish resident pays tax on all income, including deposit interest, which counts as capital income taxed at income tax rates. The bank itself reports interest and balances to the tax authority, so they appear automatically in the annual tax assessment. If you are still tax resident in another country, double taxation is resolved under the treaty between the countries, which we check before the move.
Deposit protection
The Guarantee Fund protects deposits up to €100,000, about $112,100, per depositor per bank. Temporarily high balances from a private home sale are protected up to €10 million for 12 months after receipt.
Timeline
| Stage | Time |
|---|---|
| Address registration and CPR number | 1-3 weeks after arrival |
| Opening the account | a few days to 2 weeks |
| Electronic ID and online banking | right after opening |
Why Danish banks refuse
- No Danish CPR number or address registration.
- A non-resident with no work, study or family in Denmark.
- Large inflows expected without source documents.
- Citizenship or payment countries on a higher-risk list.
How we help
We help with address registration and the CPR number, choose a bank, prepare documents on work, income and source of funds, and handle opening the account and setting up the payout account. If you have no statutory right to an account, we suggest a bank in a neighbouring EU country.
What we do
- Personal account - opening assistance
See also
Company formation · Business account · Investment property · All country programs
FAQ
Can I open an account in Denmark without a CPR number?
Can a non-resident open an account at a Danish bank?
What is a payout account?
How long does opening an account take?
Is money in a Danish bank protected?
Does Denmark share account information?
Need a personal account with a Danish bank?
Danish banks usually expect a local CPR number: we explain how to get one, choose a bank and follow the account opening. Every country is in the searchable catalogue.
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