Denmark
Denmark is a highly developed country with a high standard of living: the country performs at or near the top in measures of education, health care, civil liberties, democratic governance and LGBT equality. Denmark is a founding member of NATO, the Nordic Council, the OECD, OSCE, and the United Nations; it is also part of the Schengen Area. Denmark maintains close political, cultural, and linguistic ties with its Scandinavian neighbours, with the Danish language being partially mutually intelligible with both Norwegian and Swedish. Denmark has the fourth highest ratio of tertiary degree holders in the world. The country ranks highest in the world for workers' rights.
Owing to limited natural resources, the country depends strongly on foreign trade. Imports and exports account for around 30% of Denmark’s gross national product (GNP).
The Danish economy, one of Europe’s strongest, is characterised by a surplus state budget, a stable currency, low interest rates and low inflation.
Danish tax legislation distinguishes between full tax-liability for resident individuals and limited tax liability for nonresident individuals. Citizenship does not affect tax liability.
Residents are taxable on their worldwide income and capital gains. Furthermore, residents are liable to pay gift tax.
There are no wealth taxes in Denmark.
Non-residents are taxed only on income and capital gains deriving from sources in Denmark.
Denmark is known for its culture across the globe. According to the survey of the World Bank, the nation holds the 3rd position among 190 countries for doing business in the country. The government has innovative approaches to the future, and the developing yet stable economy attracts large investors to the country.
Denmark has a highly developed infrastructure, which provides a great benefit to businesses in the country. The country has already made sites and business parks for starting a business.
It also has a large number of ports and airports that make travel and transportation easy to other countries. This attracts a large number of business owners, entrepreneurs, leaders, and international players within the country.
Denmark’s policy and legislation regarding foreign investment is characterised by openness and non-discrimination.
Denmark is further characterised by:
• Long-term political stability
• Long-term economic stability
• Low inflation
• Effectively, a low level of corporate tax owing to favourable depreciation facilities and a
tax rate of 22%
• A well-educated workforce
• High productivity
• Well-developed infrastructure.
Existing investment incentives apply to both Danish and non-Danish investors, so no special subsidies or state grants are available. Denmark’s membership of the European Union (EU) enables businesses in Denmark to obtain EU subsidies for research and development
projects conducted in co-operation with companies and research institutions in other EU countries.
In general, Denmark offers adequate protection for intellectual property rights. According to the Danish Copyright Act, anyone who produces a literary or artistic work has copyright on that work. The copyright holder has the sole right to control the work by producing copies of it and making it available to the public. Copyright on a work, e.g. music, literature, film, photo, etc. lasts for 70 years after the copyright holder’s death.
Other groups of people with rights also enjoy protection under the Danish Copyright Act: performing artists, record and film producers, radio and TV broadcasters, and photographers, as well as catalogues and databases. For related rights, the copyright lasts for 50 years after it is set, e.g. the recording or broadcast is made. For catalogues and databases, however, the protection only lasts until 15 years have passed from the end of the year in which the work was first made available to the public.
Denmark is a constitutional monarchy. The Constitutional Act of 1953 places the legislative power with the King and the Parliament conjointly. The executive power is vested in the King. Reference to the King in practice refers to the Government. The judicial power lies with the Courts of Justice. The Government may dissolve the Parliament and call for general elections, while a majority of the 179 members of Parliament may issue a vote of no confidence in a Cabinet or a Minister. The Courts of Justice have control over the Government and Administration and may try the constitutionality of Parliamentary Acts. The Parliamentary Ombudsman has right of scrutiny of the administration of the executive powers.
Danish law is characterized by extensive bodies of systematic and written law. Private law is dominated by a range of individual statutory acts and, in some areas, by unwritten law guided mainly by precedent and custom. Generally, criminal law is governed by the Criminal Code, and administrative law is governed by two general statutory acts of public administration (Forvaltningsloven og Offentlighedsloven) and a complex body of substantive, sector-specific statutory acts.
The Courts of Denmark are vested with judicial powers and administrative functions attached thereto, including probate matters, bankruptcy, bailiffs court, land registration and general administration.
Our law firm VLO provides legal services for corporate and private clients in Denmark. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
Owing to limited natural resources, the country depends strongly on foreign trade. Imports and exports account for around 30% of Denmark’s gross national product (GNP).
The Danish economy, one of Europe’s strongest, is characterised by a surplus state budget, a stable currency, low interest rates and low inflation.
Danish tax legislation distinguishes between full tax-liability for resident individuals and limited tax liability for nonresident individuals. Citizenship does not affect tax liability.
Residents are taxable on their worldwide income and capital gains. Furthermore, residents are liable to pay gift tax.
There are no wealth taxes in Denmark.
Non-residents are taxed only on income and capital gains deriving from sources in Denmark.
Denmark is known for its culture across the globe. According to the survey of the World Bank, the nation holds the 3rd position among 190 countries for doing business in the country. The government has innovative approaches to the future, and the developing yet stable economy attracts large investors to the country.
Denmark has a highly developed infrastructure, which provides a great benefit to businesses in the country. The country has already made sites and business parks for starting a business.
It also has a large number of ports and airports that make travel and transportation easy to other countries. This attracts a large number of business owners, entrepreneurs, leaders, and international players within the country.
Denmark’s policy and legislation regarding foreign investment is characterised by openness and non-discrimination.
Denmark is further characterised by:
• Long-term political stability
• Long-term economic stability
• Low inflation
• Effectively, a low level of corporate tax owing to favourable depreciation facilities and a
tax rate of 22%
• A well-educated workforce
• High productivity
• Well-developed infrastructure.
Existing investment incentives apply to both Danish and non-Danish investors, so no special subsidies or state grants are available. Denmark’s membership of the European Union (EU) enables businesses in Denmark to obtain EU subsidies for research and development
projects conducted in co-operation with companies and research institutions in other EU countries.
In general, Denmark offers adequate protection for intellectual property rights. According to the Danish Copyright Act, anyone who produces a literary or artistic work has copyright on that work. The copyright holder has the sole right to control the work by producing copies of it and making it available to the public. Copyright on a work, e.g. music, literature, film, photo, etc. lasts for 70 years after the copyright holder’s death.
Other groups of people with rights also enjoy protection under the Danish Copyright Act: performing artists, record and film producers, radio and TV broadcasters, and photographers, as well as catalogues and databases. For related rights, the copyright lasts for 50 years after it is set, e.g. the recording or broadcast is made. For catalogues and databases, however, the protection only lasts until 15 years have passed from the end of the year in which the work was first made available to the public.
Denmark is a constitutional monarchy. The Constitutional Act of 1953 places the legislative power with the King and the Parliament conjointly. The executive power is vested in the King. Reference to the King in practice refers to the Government. The judicial power lies with the Courts of Justice. The Government may dissolve the Parliament and call for general elections, while a majority of the 179 members of Parliament may issue a vote of no confidence in a Cabinet or a Minister. The Courts of Justice have control over the Government and Administration and may try the constitutionality of Parliamentary Acts. The Parliamentary Ombudsman has right of scrutiny of the administration of the executive powers.
Danish law is characterized by extensive bodies of systematic and written law. Private law is dominated by a range of individual statutory acts and, in some areas, by unwritten law guided mainly by precedent and custom. Generally, criminal law is governed by the Criminal Code, and administrative law is governed by two general statutory acts of public administration (Forvaltningsloven og Offentlighedsloven) and a complex body of substantive, sector-specific statutory acts.
The Courts of Denmark are vested with judicial powers and administrative functions attached thereto, including probate matters, bankruptcy, bailiffs court, land registration and general administration.
Our law firm VLO provides legal services for corporate and private clients in Denmark. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
