Guide to the Start-up Denmark Visa Scheme for Global Entrepreneurs

Denmark ranks among the most digital and entrepreneur-friendly nations in the world. The country is a great option for foreign entrepreneurs who are looking to move into the European market. The Danish government offers a business startup visa that includes a two-year residence and work permit. You can extend the permit further at three-year intervals. Read on to learn more about the Startup Denmark program and how it works.

What is the Denmark Startup Visa?

Startup Denmark is an exclusive visa scheme for non-European Union/European Economic Area and non-Swiss citizens. Self-employed individuals from qualifying nations can apply for this visa to establish and operate a business in Denmark. The Startup Denmark program is aimed at:

• innovative and scalable businesses that show growth potential
• business owners intending to open a branch in Denmark

This visa allows three non-EU/EEA citizens to submit their business plan as a team. However, the Startup Denmark expert panel must approve the business plan for you to apply for the residence and work permit. A non-EU/EEA citizen can partner with EU/EEA citizens if they are part of the business startup.

EU/EEA citizens do not need any residence and work permits due to EU rules that allow the free movement of EU citizens within the Union.¹

Generally, businesses like retail shops, restaurants, and small import or export enterprises are unlikely to qualify for the Startup Denmark visa. Your business must serve specific Danish interests to be eligible. To note, the Danish Government has capped the maximum number of foreign nationals eligible for this visa at 75 every calendar year.²

Benefits of the Denmark Startup Visa for Entrepreneurs

The Denmark Startup Visa is beneficial to global entrepreneurs in many ways:³

• Business-friendly environment - The Danish startup visa offers the opportunity to access the Danish economy as well as the broader European market. The government has strong support for businesses and workers which can help you run your startup.
• Tech-friendly ecosystem- Denmark is renowned for its tech research and innovative talent pool, especially in software. Denmark is the second-most digital country among the EU member nations.
• Path to residency - The Denmark Startup visa offers a two-year work and residence permit, with options to renew the residency period at three-year intervals. It opens up opportunities for Danish residency.
• Bring your family - This visa allows global entrepreneurs to bring their families to Denmark. You can include your spouse and children under 18 years old when applying for this visa.
• Top-class infrastructure - Denmark is one of the most developed European nations with top-class infrastructure and high-quality education facilities.
• Funding options - Denmark offers extensive private and public funding opportunities for global entrepreneurs to encourage their businesses to grow and benefit the market locally.

Requirements for Denmark Startup Visa

Here are the requirements to be eligible for the Denmark Startup Visa:⁴

• **Get approved for your business idea by the Danish Business Authority’s expert panel- **To be eligible, your business must focus on innovation and technological advancement and contribute towards developing the Danish economy.
• **Play an active part in running your business- **All applicants must be actively part of the business or intend to be. You are ineligible if you have only economic or financial interests in the business, like a shareholder.
• **Ability to support yourself- **You must show sufficient financial stability to support your stay in Denmark, and that of your family. Here are the amounts you will need to show, generally through a bank statement:

In addition to meeting the requirements, you will also need to pay a visa fee. Here is the cost for a Denmark Startup Visa:⁵

Application process for Denmark Startup Visa

You must apply for the Denmark Startup Visa at the official website of theDanish Agency for International Recruitment and Integration (SIRI). You should only apply for the visa once you have received approval from the Danish panel of experts.

Here is a step-by-step guide to the application process:⁶

1. Head to the Danish Immigration Service website for Startup Visa

2. Create the case order ID by providing your name, passport number, and email ID.

3. Pay the visa processing fee. Please note to create your case order ID, pay the processing fee, and apply for the visa in the same calendar year.

4. Submit the following documents.

5. Fee paid receipt

6. Copies of all pages of your passport, including the empty pages and front/back covers

7. Approved business plan by the Danish Business Authority’s expert panel

8. Documentary evidence of having sufficient funds to support your stay in Denmark

9. Documentation of company ownership

10. Complete the application form. It should take around 30 minutes for one person.

11. Complete your biometrics within 14 days of submitting your application. The biometrics can be done at the Danish consulate or embassy, or affiliated organization.

12. Track your application online.

Check with the Danish embassy or consulate near you for any additional steps or requirements. The visa processing usually takes around a month. If approved, you will receive a residence and work permit for Denmark.

If the nature of your business changes substantially during your time in Denmark while on the visa, you will need to notify SIRI and re-apply for the residence and work permit.

Moving to Denmark from abroad

Getting a startup visa to Denmark is just the first step in making the move abroad. Here are other things to consider before and after moving to Denmark:

• Update bank and credit card accounts: Your resident status in your home country may change to that of a non-resident after relocating to Denmark. This could mean that your bank accounts need to be updated. Contact your bank and credit card accounts about the move and using your cards abroad. Also, set up a system to make payments for any recurring bills while you are abroad.
• Remain connected with family and friends: Homesickness can be common for those who move abroad. Stay in touch with family and friends using messages, voice and video calls on apps like WhatsApp. Instagram and Facebook are social media platforms that can help you share your journey overseas with your loved ones.
• **Language: **Danish is the official language in Denmark and is what the majority speak although English is common as well. It can be helpful to learn some Danish before moving, but the government offers free lessons to anyone over 18 with a local address.
• Cultural changes: Danish culture can feel different from your own. Learn about the history and culture of Denmark and stay open to understanding your new host country. Assimilating can also help Denmark feel more like home, but maintaining meaningful traditions of your own can let you feel rooted at the same time.
• Accommodation and logistics: You can either arrange a place to live online before you leave for Denmark, or find it in person when you arrive. The latter might mean staying in a hotel until you find a home. Remember that living in the city centres can be more expensive than living in the suburbs or small towns.
• Healthcare: Consider signing up for health insurance so that you and your family have coverage in Denmark. Find a local doctor and the nearest hospital once you arrive just in case there are any medical emergencies.

Banking in Denmark

You are likely going to need a personal and business bank account in Denmark. A personal account can help you earn locally and pay bills like rent or groceries. To learn more and what documents you may need, check out our complete guide to opening a bank account in Denmark

A business bank account is helpful to separate your startup expenses from your personal. Denmark has a number of globally popular banks and the local bank Danske Bank. Establishing a business relationship with a bank can also be helpful if you ever consider getting a business credit card or loan.

If you have an existing business account and the bank exists in Denmark, reach out to the bank to notify the move. You may need to change your mailing address to your home in Denmark and other personal details.

Make sure to review the fees when you’re looking for a bank- especially if you have a globally distributed team, suppliers or vendors. Banks can charge high transfer fees and have hidden fees in the exchange rate they offer. Want an easy and fast way to send money globally? Check out Wise.

Meet Wise: International Account for Global Entrepreneurs

Wise is the fast, easy and simple way for international transfers. With an award-winning app, you can send money to local bank accounts around the world. If you need to use multiple currencies as you travel, Wise has you covered with the multi currency account. And if you are a modern business, look no further than the Wise Business account to receive overseas transfers, pay staff and streamline international transactions at a low cost.

Not fluent in Danish yet? No problem- Wise has English-speaking customer service, so you can ask questions or get support for any account needs.

Wise Account for Danish Residents

When you need to send money back home, put down a deposit for a holiday or make an online purchase, use Wise. With a free account, you can send money directly to local bank accounts abroad in just a few seconds on popular transfer routes. Wise has just one upfront transaction fee, and you always get the mid-market exchange rate on every transfer.

And if you're a frequent traveller, you’ll love the Wise multi-currency account. It's one account where you can hold, send and spend up in different currencies. Send transfers home, have the right currency when you are abroad or easily convert currencies at the mid-market exchange rate. With Wise, your money goes where you go. And if you opt for a linked debit card, you can swipe or tap like a local wherever you are in the world.

So skip expensive international transfer fees and complicated exchange rates, and join Wise today to see how easy it is to manage global currencies.

Wise account for Denmark Residents 🚀

Wise Business Account for Danish Startups

The Wise Business account is ideal for startups that are looking to go global. If you have clients, suppliers, vendors or teams around the world, Wise can make payments easier. You can use the Wise business account to pay invoices directly to local bank accounts at the real mid-market exchange rate. No extra bank fees or markups here.

The Wise Business account also comes with local bank details in different foreign currencies, so clients can pay you in their preferred currency. The account also integrates seamlessly with Quickbook and other accounting software, making it simple to track transactions. And with a clear upfront fee, you won’t have to worry about monthly subscriptions or hidden charges.

Over 300,000 businesses use Wise Business every quarter, so join today and see how simple international transactions can be.