The Danish Business Authority maintains the Central Business Register — CVR — as the authoritative source for legal entities registered in Denmark. An extract from CVR establishes who controls a company at the registered level: directors, owners with reported stakes, and the legal structure on record. Control questions are answered first by what the register shows, and then by what it does not.
The angle here is control: who holds voting rights, who is named as director, and what the shareholder can enforce based on filed documents. CVR is a Level A source for Denmark, meaning the register covers the core corporate layer with documented public access.
What it showsRegistered name, CVR number, legal form, registered address, directors, reported owners with stakes above the disclosure threshold, and filed annual reports. Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15 Access conditionThe CVR register is publicly accessible online without registration. Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15 Official filing languageDanish. Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15 What it does not showBeneficial owners below the statutory threshold, nominee arrangements, and the content of shareholder agreements not filed with the register. Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15What CVR records and what an extract contains
CVR is the single register for all Danish legal entities: limited liability companies (ApS), public limited companies (A/S), branches of foreign companies, and other registered forms. Each entity receives a unique CVR number at incorporation. That number is the key to every subsequent filing.
A standard extract from CVR contains the following categories of information:
- Legal name and any secondary trading names
- CVR number and date of registration
- Legal form and registered office address
- Names and roles of directors and members of the supervisory board
- Reported owners holding 5% or more of capital or voting rights
- Status: active, under dissolution, or struck off
- References to filed annual reports and other statutory documents
The ownership layer in CVR reflects what companies are legally required to report. Danish law requires disclosure of shareholders holding 5% or more. Stakes below that threshold do not appear in the register.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
The ownership disclosure threshold and its consequences
The 5% threshold is a structural feature of the Danish disclosure regime, not a gap in the register. A company with a dispersed shareholder base may show no individual owner in CVR. That is a valid result, not an incomplete one.
For a cross-border buyer, the threshold creates a specific verification problem. A 4.9% stake held by a related party does not appear. A nominee shareholder holding on behalf of an undisclosed principal appears under the nominee's name. CVR records the legal owner, not necessarily the economic one.
The register does not contain shareholder agreements. Voting arrangements, drag-along rights, and pre-emption clauses agreed between shareholders are private documents. Their existence cannot be confirmed or excluded from CVR alone.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Directors and authorised signatories
CVR records the names of directors (direktører) and, where applicable, members of the board of directors (bestyrelse) and supervisory board (tilsynsråd). The register also records who holds prokura — the authority to sign on behalf of the company.
Each director entry includes the date of appointment. Resignations and replacements are filed and timestamped. The history of directorial changes is therefore traceable through the register.
The register does not record the terms of employment contracts, remuneration, or the scope of any internal delegation of authority beyond what is filed. A director named in CVR may have their powers restricted by an internal resolution that is not publicly filed.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Annual reports and financial filings
Danish companies are required to file annual reports with the Danish Business Authority. These reports are attached to the CVR record and are publicly accessible. The filing obligation applies to most registered entities, with the scope of required disclosure varying by company size class.
An annual report filed with CVR contains the balance sheet, income statement, and notes. For smaller companies, the disclosure requirements are reduced. The filed report reflects the accounting period stated on the document; it does not reflect the current financial position at the date of the extract.
The gap between the most recent filed report and the date of the extract can be significant. A company registered in January may not file its first annual report until well into the following year. The extract will show the filing date, making the gap visible.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Insolvency and dissolution status
CVR records the formal status of each entity. A company under bankruptcy proceedings, reconstruction, or compulsory dissolution will carry a status flag in the register. The date of the status change is recorded.
A negative result — no insolvency flag — does not exclude the possibility that proceedings have been initiated but not yet registered. The register reflects what has been formally filed. The interval between a court order and its appearance in CVR is a known limitation of any register-based check.
For a cross-border buyer, the insolvency register of the Danish courts (Domstolsstyrelsen) provides a parallel source. CVR and the court insolvency register are not automatically synchronised in real time.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
The limit of what the sources allow
CVR is a registration system, not a disclosure system for beneficial ownership in the full sense. The register shows what the law requires companies to file. It does not show what companies are not required to file.
The following cannot be established from CVR alone:
- The identity of the ultimate beneficial owner where the chain passes through a foreign holding company
- Shareholders below the 5% threshold
- The existence or terms of any shareholder agreement
- Nominee arrangements and the identity of the principal behind a nominee
- Pledges over shares not registered in the company's share register and not publicly filed
- The current financial position of the company (only the most recently filed annual report is available)
Where the ownership chain passes through a foreign jurisdiction, CVR shows the foreign entity as the registered owner. Tracing that entity requires a separate extract from the relevant foreign register. CVR does not link to foreign registers.
The extract establishes the registered position as of the date of retrieval. It does not establish the position at any prior date unless historical filings are retrieved separately.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Where the sources disagree
CVR is the primary source. Annual reports filed with CVR are a secondary source for the financial layer. Discrepancies between the two arise in specific circumstances.
A director named in CVR may not appear as a signatory in the most recent annual report — for example, where the appointment post-dates the reporting period. The register and the report reflect different points in time.
The ownership section of an annual report may describe the shareholder structure in narrative terms that differ from the ownership entries in CVR. This can occur where a company has updated its CVR ownership record but the annual report was filed before the change, or vice versa.
Where the two sources disagree, the CVR entry reflects the most recently filed registration. The annual report reflects the position at the close of the accounting period. Both dates are stated in the documents; the discrepancy is therefore dateable.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Procedure: how an extract is obtained
CVR is publicly accessible at virk.dk, the Danish Business Authority's public portal. A search by company name or CVR number returns the current register entry. Documents attached to the record — annual reports, articles of association, and other filings — are accessible from the same interface.
The register is public and free of charge. What the service fee covers is the removed path: language, document identification, cross-referencing of filings across the CVR record, extraction of the relevant documents, and delivery in a format usable by a non-Danish-speaking buyer.
For a cross-border buyer without a Danish national identifier or familiarity with the Danish filing system, the practical barriers are:
- The interface and documents are in Danish
- Filed documents are PDFs and scans, not structured data
- Identifying which filings are current and which are superseded requires knowledge of the filing sequence
- Annual reports filed by smaller companies use abbreviated formats that require interpretation
The service covers retrieval, translation of key fields, and assembly of the extract into a structured report. The ceiling of what the sources allow is stated before payment.
Source: CVR (Erhvervsstyrelsen) · verified 2026-09-15
Scope and fixed price
| Tier | Price | What is included | Not included |
|---|---|---|---|
| Signal | €440 | Current CVR extract: legal name, CVR number, legal form, registered address, directors, reported owners, and entity status. Delivered in English. | Annual reports, articles of association, historical director changes, insolvency cross-check. |
| Standard | €890 | Signal content plus the two most recently filed annual reports, articles of association as filed, and a summary of directorial changes over the past three years. | Beneficial ownership tracing beyond the CVR record, foreign holding company extracts, legal qualification of findings. |
| Extended | €1800 | Standard content plus cross-referencing of CVR ownership entries against filed annual reports, identification of discrepancies between sources, insolvency cross-check against the Danish court register, and a structured memo on the limits of what the sources establish. | Ultimate beneficial owner identification where the chain passes through a foreign jurisdiction, shareholder agreement review, legal advice. |
FAQ
What is the CVR number and why does it matter? The CVR number is the unique identifier assigned to every Danish legal entity at registration. It is the key used to retrieve all filings associated with that entity. Without the correct CVR number, a name search may return multiple entities with similar names. The Signal tier includes CVR number verification as part of the retrieval.
Does CVR show the ultimate beneficial owner? CVR shows registered owners above the 5% threshold. Where the registered owner is a foreign holding company, CVR shows that company's name and jurisdiction. It does not trace the ownership chain beyond the Danish register. Identifying the ultimate beneficial owner requires extracts from the relevant foreign registers, which are not included in any tier of this service.
How current is the information in CVR? CVR reflects filings as submitted. There is no mandatory real-time update obligation for all changes. A directorial change must be filed within a defined period after it occurs. The extract reflects the position as of the date of retrieval, not the date of the underlying event. The retrieval date is stated on every extract.
What language are the filed documents in? All filings in CVR are in Danish. The Signal tier delivers the core extract fields in English. The Standard and Extended tiers include translated summaries of the annual reports and articles of association. Original documents remain in Danish and are provided as retrieved.
Can the extract be used as evidence in a transaction? The extract is a factual compilation from official sources. It is not a certified copy issued by the Danish Business Authority. Whether it meets the evidentiary requirements of a particular transaction or jurisdiction is a question of the applicable law of that transaction, which this service does not address.
What if the company has no filed annual report? A newly registered company may not yet have a filing obligation. The extract will state the registration date and note the absence of filed annual reports. This is a factual result, not an error in the retrieval.
Sources
CVR — Central Business Register (Erhvervsstyrelsen) — https://datacvr.virk.dk — verified 2026-09-15
Virk.dk — Danish Business Authority public portal — https://virk.dk — verified 2026-09-15
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Disclaimer: This report is a factual compilation from official registers and public sources. It is provided for informational purposes only, does not constitute legal advice, and contains no legal qualification of the facts established. VLO Law Firm assumes no liability for actions taken or not taken based on this material. For advice regarding your particular situation, please contact info@vlolawfirm.com.
Author: Elena Moretti — Partner, Continental Europe, VLO Law Firm