The Denmark Startup Visa program grants a maximum of 50 work permits per year. The work permit for a Denmark startup visa is issued by the Danish Agency for International Recruitment and Integration.
Why Denmark?
The main advantage of Denmark is the government’s desire to make the country attractive for business and foreign investors; the process of creating a company here is as convenient as possible.
Registration of the company will cost 1 Danish krone. You can apply to open a company in Denmark online. Getting the result will take about four days on average.
Taxes
The company is exempt from paying taxes until the working capital does not exceed 50 thousand kroons (6700 EUR).
The corporate tax is 25%, if the head office is outside Danish jurisdiction and there is no business in the country, then the tax is 0%. Besides:
- Denmark is ranked 1st in the Forbes ranking of the best countries to start a business;
- 8th position on the GII (global innovation index) in the world;
- Number 4 worldwide in terms of the share of R&D in GDP;
- Danish GDP per capita – $ 49,883 in 2017 (10th in Europe and 39th in the world)
Residence in the EU
By Denmark start-up visa, the Kingdom will grant you a residence permit and a work permit for up to 2 years. Then, you can renew it for three years at once.
Conditions for obtaining a Denmark startup visa
Denmark’s start-up visa program can participate for entrepreneurs who are not citizens of the EU and do not belong to the European Economic Area.
Your business project must be approved by an expert commission appointed by the Danish Business Authority. Projects must be provided with a business plan, which experts will assess according to 5 criteria, including innovation, scalability, market attractiveness. All applications are evaluated by experts within 8 weeks.
Danish professionals and the Danish labor market must have a particular interest in your idea. Therefore, you cannot obtain a Denmark Startup Visa. If you would like to set up a restaurant, retail store, small business, import or export business, etc., your presence and participation must be vital to create a business. Your idea must be unique.
Moreover, you can not be a shareholder of the company from which you provide your business experience. After applying for a Denmark startup visa, you need to wait for a decision on your business plan from the Start-Up Denmark Expert Panel (the review process takes about 4 weeks);
After receiving a positive decision, the Denmark Startup Visa program required a package of documents, including a bank statement and an account statement on the availability of funds for the first year of life in Denmark:
- 133716 DKK if you are participating without a family,
- 267432 DKK if you are participating with your wife/husband,
- 311.412 DKK if you are participating with your wife and children,
- 177.696 DKK if you are participating with children, but without a wife.
According to November 2020, the euro to Danish Krone exchange rate is 7.45
Next, you need to pay a visa fee – € 310 to contact the embassy to get a residence work permit in Denmark.
It is highly advisable to apply for the Denmark startup visa program before January 1, since the annual quota is only 50 people.
The application process for a Denmark startup visa
First step
You need to create a case on the official website nyidanmark.dk and pay a DKK 1,900 state fee (about 250 euros).
Second step
Collection and submission of the following documents:
Documentation of paid fee. Attach receipt for your payment
- Passport and copy of all pages
- business plan approved
- account statement (prove that you can support yourself during your stay in Denmark)
- Documentation of company ownership if relevant
If you are submitting documents other than English, German, Norwegian, Swedish and Danish, you need to provide certified translations into Danish or English.
The last step
Submit biometric data no later than 14 days from the start of the application.
Outcome
Denmark is the perfect country to do business in Europe. Thanks to the state policy, the Kingdom occupies a leading position in terms of business indicators. Anyone with an innovative business idea can get a Denmark startup visa. For this, you need to provide a business plan, collect the necessary documents, have enough money in the account, and apply. Good luck!