A business visa in Denmark is obtained through the start-up programme, one that allows foreign investors to reside and work in the country, under certain conditions.
The investment scheme is designed to allow entrepreneurs who are interested in Denmark immigration to obtain a residence permit based on the quality of their proposed business. The business idea is very important and it is useful to know that it will be subject to an evaluation before it can be approved and the applicant can receive the permit.
An interesting feature of the programme, and one that may present an attractive advantage to business partners, is that teams of up to three individuals who wish to open a company in Denmark can apply for it. In this case, they will need to present a joint business plan.
Our immigration lawyer in Denmark is able to answer any questions that you may have as an investor interested in starting a business and obtaining residence. Denmark can be an ideal location to base the Nordic headquarters for a business and this is because of the favorable business regime that allows full foreign ownership.
What are the main conditions to obtain a business visa for Denmark?
Opening a new business comes with its own challenges and rewards. Foreign investors who are interested in company formation in Denmark can also benefit from obtaining residence, if their proposal qualifies for the start-up visa.
Below, our team of immigration lawyers in Demark describes the main conditions for business evaluation under this scheme:
- Innovation: the new business needs to be innovative and have the potential to develop within the Danish business community;
- Interest: the business must meet specific business interests, this will be favorable for the final approval;
- Approval: the business idea needs to be evaluated and approved by the Danish Business Authority;
- Limitation: these types of permits are limited to a maximum of 75 per year.
These conditions for innovation limit the types of business that may be incorporated by investors who wish to obtain the permit for the purpose of moving to Denmark. Understandably, some types of companies are excluded, for example, restaurants, import and export businesses or retail stores as they do not meet the criteria for being innovative ones.
Please keep in mind that the start-up or the business visa for Denmark may be subject to additional conditions.
What are the conditions for the foreign investor applying for residence in Denmark?
It is important to note that the conditions for obtaining a business visa for Denmark also apply to the investor, not only the business. In order to receive the residence permit that will allow him to migrate de Denmark, the applicant must prove that he is able to support himself. This is based on documentation proving that he can cover the expenses during the first year of living in the country. The thresholds are the following:
- 322,908 DKK: when the spouse, as well as one or more children, will be accompanying the investor to Denmark;
- 277,296 DKK: when the applicant is coming to the country together with his/her spouse;
- 184,260 DKK: when one or more children, without a spouse will only join the investor;
- 138,648 DKK: when the entrepreneur applying for a business visa will come to the country alone.
A bank statement can be used as proof of income. These rates may be subject to change and we advise interested individuals to reach out to one of our immigration lawyers in Denmark for more details.
Apart from the condition to have sufficient funds, investors will also need to play an active role in the company they will open in Denmark.
What are the rights granted by a business visa?
The Danish start-up scheme allows the applicant who has had his business idea approved to reside and work in the country. However, work may only take place within the business for which the application was submitted or unpaid voluntary work. The applicant can apply for a second job, however, in this case, a different permit will be required.
A residence permit awarded under the start-up scheme has a duration of up to two years and it can be extended to a maximum period of three years at a time.
Interested investors should know that the usual processing time for the business visa for Denmark is one month and that a processing fee applies.
For those investors who are interested in moving to Denmark, obtaining permanent residence will be the ultimate goal after they apply for the start-up scheme. This is possible for all those who have legally resided in the country for at least 8 years or, in some cases, for 4 years. One of our lawyers can give you more information before the completion of the minimum residence period, if you are a foreign business owner who intends to obtain permanent residence in the country. Our team can also provide all the needed information on obtaining citizenship.
Contact our immigration lawyers in Denmark for more information on the start-up scheme as well as other types of residence permit.