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Djøf

Starting a business

Get off to a good start as self-employed and focus on the most important things you need to remember when starting a business. You can find templates for consultant agreements and subcontractor agreements.

As a new self-employed person, there are so many things to consider, e.g. what form of business should you choose, accounting and tax matters, questions concerning bookkeeping, allowable tax deduction, tax return and preliminary tax assessment.

Djøf regularly organises the event 'Get off to a good start as self-employed' about everything that is good to know as a new self-employed person or just before you take the plunge. Therefore, we recommend that you register for the event to learn about what you need to know as self-employed.

Choose your form of business

You have to choose a form of business - sole proprietorship, private limited company (ApS) or public limited company (A/S).

Requirement for sole proprietorships

  • Only one owner
  • Can hire employees
  • Submit VAT returns
  • Import and/or export inside and outside the EU
  • The assets of the business belong to the owner
  • The owner is persoanlly liable for the debt of the business
  • Requires a Danish civil registration number
  • Free to register

Requirement for private limited companies (ApS)

  • Contribution: minimum DKK 50,000
  • The owner is not personally liable for the debt of the company or other liabilities in addition to the values contributed. 
  • The assets belong to the company - not the owners
  • Must have an executive board
  • May have one or more owners
  • Require articles of association and a memorandum of association
  • The price of registering a private limited company (ApS) is DKK 670

Requirement for public limited companies (A/S)

  • Minimum contribution of DKK 400,00 - no upper limit
  • The owners are not personally liable for the debt of the company or other liabilities in addition to the values contributed
  • The assets belong to the company - and not the owners
  • Must have a board of directors and an executive board or a supervisory board and an executive board
  • May have one or more owners
  • Require articles of association and a memoradum of association
  • The price of registering a public limited company (A/S) is DKK 670

Setting up your business

Once you have decided what type of business you want to set up, you need to register the business. All limited liability companies (ApS and A/S) must be registered with the Danish Business Authority on Virk.dk to be valid. Sole proprietorships must also be registered on Virk.dk.

To register a private limited company (ApS) or public limited company (A/S), you need the following legal documents:

  • Memorandum of association – The memorandum of association contains basic information about the new company. The document states when the company was incorporated, who the owner is and, in case of several owners, their ownership shares.
  • Articles of association – The articles of association of a company are one of the key documents as they contain the rules that apply to the company. This may for instance be the objects and name of the company and information about how decisions are made and the composition of the management.
  • Confirmation of the share capital – You need to have the share capital confirmed by a third party, e.g. an auditor, lawyer or online legal service.

Get help setting up your business with Djøf's discount agreement with LegalDesk.

Do you need a shareholders' agreement and an executive service agreement?

If there are more founders of the company, it might be a good idea to create a shareholders' agreement. This way, you ensure that you agree on the owners' shareholdings if some day the company is to be sold. The shareholders' agreement provides clarity, and you reduce the risk of conflicts.

If, as a general manager, you are an owner of the company, it is necessary to have an executive service agreement, as this is a regulatory requirement under the Danish Companies Act.

See Djøf's draft executive service agreement and get help drawing up a shareholders' agreement through Djøf's discount agreement with LegalDesk. 

Advice and guidance

The Startvækst portal (in Danish) is a good place to seek advice and guidance on the formal matters and if you are looking for events and courses for self-employed.

Contract

Use Djøf Self-Employed Consultant Agreement as the basis when as a self-employed person, you need to enter into a contract with a customer or business partner. Delete the terms and conditions in the document that are not relevant for you.

Djøf Self-Employed Consultant Agreement - Danish Version

Djøf Self-Employed Consultant Agreement - English Version

As a self-employed person, you may also sometimes be a subcontractor. In that situation, you can use our standard agreement as the basis, and we would be pleased to read your proposal and offer advice.

Djøf Self-Employed Subcontractor Agreement - Danish Version

Djøf Self-Employed Subcontractor Agreement - English Version

Send your contract

We would be pleased to check your new contract and give you a professional assessment of the terms and conditions to strengthen you position in the negotiations with your future employer. 

Remember to state a telephone number if you want feedback over the phone. Also please specify if you would like us to focus specifically on certain clauses in our review.

dk¤djoef¤kontrakt¤Send your contract

InnoFounder programmes

Innovation Fund Denmark has two programmes through which entrepreneurs can get financial support. The two programmes are:

  • InnoFounder - Graduate is relevant for you who have graduated from higher education within the past 24 months. 
  • InnoFounder - Experienced is relevant for you who have an idea based on significant research and/or work experience. 

Read more about requirements, support options and application deadlines on the InnoFounder site.