Doing business in Denmark
It's all about proximity, trust and the right advisor
You have the right and very attractive business proposition for the Danish market. Your products, brands or services are spot on for entering Denmark - according to your research and the market demands.
But what about the next step? How will you transform and execute the vision, the strategy and the launch of your business in Denmark - whilst at the same time establishing your company and your new organisation as an active and respected part of the Danish society and business environment?
You will need a professional and experienced partner and advisor. A Chartered Accountant firm with a proven track record and an untainted reputation who can guide your company safely through the formalities, and handle all paperwork for the new company. We can also provide you with specialist advise on selecting the right location in Denmark, HR Management and recruiting of local management and staff, setting up your administration and it systems, marketing issues, etc.
Denmark is an open and very liberal country for international companies who want to do ”local’ business or use Denmark as a hub for their activities in the Nordic countries. Denmark is also a very attractive location for international Holding Companies.
Although Denmark is among the world leaders when it comes to tax on personal income - the opposite is a fact when it comes to taxation of Limited Companies and Holding Companies who are offered very favourable conditions.
However, in any case you will need a business partner with proximity and in depth knowledge about both local and national requirements for starting up and operating a successful business in Denmark.
Collaboration globally and locally
In this case, Beierholm State Authorised Public Accountants - among the biggest accounting firms in Denmark with 29 local offices all over the country, and a member of the HLB Network - will be the right choice for you - and for any company operating in Denmark.
Our strength is our local presence and international reach - and an organisation represented by the most respected and innovative professionals in the Danish accounting profession. Several of our Partners are currently holding positions as respected members of the board of the Institute of State Authorised Public Accountants and of a number of the organisation’s most important and influential committees. This gives our firm an outstanding possibility to be updated on any change in the Danish legislation influencing the business environment.
In particular, Beierholm is focussed on servicing small and medium size companies, and the firm is widely known and respected for its expertise as a professional and dedicated advisor for this category of companies - across all industries and sectors.
Further, all of the Partners of Beierholm are active and respected members of their local communities and its business life - and they have a wide-ranging personal network to other professional business advisors, the local authorities and the business executives who are your potential customers and/or business partners in Denmark.
This position will open doors - and will provide your company access to all you need when doing business in Denmark. Both in relation to the formalities to be handled - and in relation to operating a successful business.
Working by the highest standards
The international accounting profession is changing rapidly these years - of course with significant impact from the global financial crisis.
This implies that any company must be even more careful in selecting their professional advisors and future business partners.
Examples of recent change in the international accounting industry include a revised Code of Ethics coming from the International Federation of Accountants (IFAC) and the new European Union 8th Directive on Company Law. Both now differentiate accounting “networks” from accounting “associa-tions”.
In addition, the Forum of Firms, a body operating under the auspices of IFAC and setting strict membership requirements relating to international quality assurance, has now appointed its first full members, comprising of the top international accounting networks.
Furthermore, International Standards of Auditing (ISAs), Quality Control (ISQC) and International Financial Reporting Standards (IFRS) are gaining increasing acceptance globally.
These are not just issues for auditors. All aspects affect companies operating internationally.
The following checklist is aimed at giving a supportive insight in how to pre-select an international accounting group that best suits your business.
If the firm or firms wanting to provide services to your company can answer ”YES" to all of the following questions, then they should be on your shortlist.
Is the firm a member of an international network?
- Is the network to which the firm belongs, a member of the Forum of Firms?
- Does the network have an on-going quality assurance review programme?
- Does the network have an up-to-date international audit manual, setting minimum standards - for all its member firms?
- Does the network have a common brand identity?
- Does the network have a central office supporting member firms with their client?
- Does the network have a comprehensive approach to handling international business?
Beierholm - State Authorised Public Accountants and The HLB network can answer "yes" to all of the above questions. And therefore, you will be in professional and safe hands when choosing Beierholm as your selected business advisor in Denmark.
Please feel free to contact our international partner: Hakon Rønn Jensen on phone +45 39 16 76 15 or e-mail firstname.lastname@example.org.