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Open a Fintech Company in Denmark

Open a Fintech Company in Denmark

Fintech startups in Denmark are involved in fields like banking, crowdfunding, cryptocurrency trading, blockchain or microfinance and financing in general.

In order to open a fintech company in Denmark, investors will need to follow a few steps for company formation. The country is a preferred location to base the Nordic headquarters, because of its pro-business climate and accessibility from various EU countries.

One of our Danish company formation agents can walk you through the entire company registration process.

Fintech businesses in Denmark

Financial technology, more commonly known as fintech, has seen a rapid development throughout the world and Denmark is no stranger to the development of this particular financial field. From developing cryptocurrencies to online banking and financial solutions, this business field holds important opportunities for development.

Fintech is a global industry, this is why many Danish companies in this field have the possibility to expand beyond the country’s borders and offer their solution to international clients. The advancement and evolution of the digital world goes hand in hand with the development of new solutions for financial problems.

The development of the blockchain technology and the emergence of the cryptocurrencies and the platforms designed for their trading have been at the core of the fintech revolution. However, there is more than blockchain technology and cryptocurrency trading.

Danish fintech companies are highly involved in the banking and financing fields, offering mobile banking solutions, developing banking platforms or real estate crowdfunding platforms.

Investors who want to open a company in Denmark can explore the various opportunities for development as well as the particular requirements for companies.

How to open a fintech business

Starting a fintech company in Denmark is a simple process, that involves a few steps, starting with choosing a type of company and a unique company name. The two most commonly used types of companies in Denmark are the private limited company, ApS, and the public limited company, A/S. 

Foreign fintech companies that want to expand to Denmark can open a branch. One of our Danish company formation experts can give you detailed information about the characteristics of the branch.

Companies need to observe the Danish tax regulations and those for annual reporting. They must also follow the rules for VAT registration in Denmark when a certain annual turnover is reached.

Fintech regulations in Denmark

Fintech companies in Denmark are overseen by a special unit within the Danish Financial Supervisory Authority (FSA) called The Division of Fintech, Payment Services, and Governance. The primary goal is to facilitate the opening of a fintech company in Denmark. The unit is structured around five key areas: Guidance, Handheld Supervision, FinTech Lab (regulatory sandbox), Fintech Forum (platform for discussion), and International Cooperation.

Depending on the business models for your fintech companies in Denmark, you must meet specific requirements. One of the most important requirements is obtaining the necessary licenses for your business. Some examples include:

  • If you open a company in Denmark that issues any type of loan, you need a Danish Credit Agreements Act license.
  • License or registration under the Danish Payments Act, which implements the EU Payment Services Directive (PSD2), for businesses offering payment services;
  • License or registration under the Danish Payments Act for businesses issuing electronic money (EMIs);
  • If you open a Danish company engaging in banking and financial services, you need a license under the Danish Financial Business Act;
  • License under the Danish Act on Investment Firms for companies engaging in investment activities;

Some fintech companies in Denmark are also required to register with the Danish FSA in the Anti-Money Laundering (AML) register.

We can help with Danish company formation and license issuance for your business.

FinTech Lab in Denmark

With the growing number of fintech companies in Denmark, the FSA has developed the FinTech Lab. This regulatory sandbox is a controlled environment where selected businesses can test their financial innovations. The purpose of the FinTech Lab includes:

  • To provide a platform for testing innovative financial products and services;
  • To promote the development of financial products and services for consumers and society;
  • Helping the FSA gain a better understanding of the fintech industry and companies in Denmark;
  • To support the adoption of new technology within the financial sector.

If you are looking to learn more about FinTech Lab, our company formation specialists in Denmark can be of assistance.

Statistics about fintech companies in Denmark

Those interested in learning more about the fintech companies in Denmark can find the following statistics useful:

  • Fintechs in Denmark generated a total revenue of 240.24 million U.S. dollars in 2023;
  • Denmark had 3.2 billion U.S. dollars in Assets under Management (AUM) of the fintech sector in 2023;
  • Copenhagen was voted the best city to establish a startup in Denmark in 2023.

In the context of opening a fintech company, trademark registration in Denmark should be taken into consideration by business owners.

Contact us for complete solutions for company registration in Denmark.