New owners register is now open for companies’ registrations

The purpose of establishing the owners register is to create increased openness and transparency with regard to ownership of Danish companies.

Among others, the owners register was introduced in order for Denmark to increase compliance with EC regulations concerning ”money laundering”.

Further, the aim of the owners register is to improve the authorities’ possibilities of investigation.

The new owners register opened for online registrations on 15 January 2015.

All new and all existing companies (A/S-companies, ApS-companies, P/S-companies and IVS-companies) are now obliged to register their owners in the register if they own 5 pct. or more of the shares in the company.

This part of the owners register will be open to the public.

Simultaneously, owners of share warrants who own less than 5 pct. of the share capital or votes in unquoted companies are required to register their holdings in a special part of the owners register which will not be open to the public.

Existing companies have 6 months to register their ownership information in the register. The owners register will be open to the public as of 15 June 2015.

To begin with, it is not mandatory to register ownership information regarding K/S-companies. However according to the Danish government, registration of ownership information regarding K/S-companies will also be required at a later stage.

The above article is taken from tax:watch, our electronic English newsletter on Danish Tax and VAT matters. tax:watch is issued on the last Friday of each month and is free of charge.