In 2008, for the fourth time in a row, Denmark was voted the most attractive place in the world to invest, locate and operate by the Economist Intelligence Unit. The country is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. Denmark's fiscal position is among the strongest in the EU. The economy is highly dependent on foreign trade, with high-tech agriculture, up-to-date small-scale and corporate industry.
Denmark has a favourable tax regime, a light administrative regulation and efficient online registration as well as a good judicial system. This in combination with its good infrastructure, comfortable living standards, a flexible work force and a stable currency, makes it an attractive place to conduct business.
Some tangible benefits? The quick and cost effective incorporation of companies, where no notary is required. The fact that there is no tax on capital contribution to a Danish company and capital gains are in many cases exempted . There is large number of double taxation treaties. And much more.
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Geography |
Northern Europe, bordering the Baltic Sea and the North Sea, on a peninsula north of Germany (Jutland); also includes two major islands (Sjaelland and Fyn) - 56 00 N, 10 00 E |
Capital |
Copenhagen |
Time zone |
UTC+1 |
Population |
5,500,510 (July 2009 est.) |
Nationality |
Noun: Dane(s) - Adjective: Danish |
Languages |
Danish, Faroese, Greenlandic (an Inuit dialect), German (small minority). Note: English is the predominant second language |
Government type |
Constitutional monarchy |
Legal system |
Civil law system; judicial review of legislative acts; accepts compulsory ICJ jurisdiction with reservations |
Economy overview |
This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade. The Danish economy is also characterized by extensive government welfare measures, an equitable distribution of income, and comfortable living standards. Denmark is a net exporter of food and energy and enjoys a comfortable balance of payments surplus. After a long consumption-driven upswing, Denmark's economy began slowing in early 2007 with the end of a housing boom. The global financial crisis has exacerbated this cyclical slowdown through increased borrowing costs and lower export demand, consumer confidence, and investment. The global financial crises cut Danish GDP by 0.9% in 2008 and 4.3% in 2009. Historically low levels of unemployment have risen sharply with the recession. Denmark is likely to make a slow and modest recovery, though unemployment is likely to rise through 2010. An impending decline in the ratio of workers to retirees will be a major long-term issue. Denmark maintained a healthy budget surplus for many years up to 2008, but the budget balance swung into deficit during 2009. Nonetheless, Denmark's fiscal position remains among the strongest in the EU. Despite previously meeting the criteria to join the European Economic and Monetary Union (EMU), so far Denmark has decided not to join, although the Danish krone remains pegged to the euro. |
Currency |
Danish krone (DKK) |
Source:
https://www.cia.gov/library/publications/the-world-factbook