If you run a business in Denmark, a business account is not just a practical necessity – it is also a requirement to ensure stable and professional business operations. A local account in Danish kroner (DKK) makes it easier to manage payments, avoid unnecessary currency exchange fees, and build credibility with both customers and business partners.

Step-by-step: How to open a business account

1. Gather the necessary documents

Before applying for a business account, you should have the following ready:

• CVR number (required)Your company’s registration number in Denmark.
• Identification (required)Passport or driver's license for the business owner and any additional owners.
• Proof of private address (required)Health insurance card or a personal bill for electricity, water, or gas.
• Proof of business address (required)A lease agreement, a utility bill for electricity, water, or another service that clearly shows the company's address and details.
• Business plan (may help in understanding the business)Some institutions require an overview of the company’s activities.
• Financial information (may sometimes be needed to demonstrate business stability)Budgets or financial statements, depending on the institution's requirements.

2. Choose a bank or digital provider

There are several options depending on your business needs:

• Traditional banksFor example, Danske Bank, Nordea, or Nykredit, which offer a wide range of financial services.
• Digital solutionsPlatforms such as Lunar or Zento offer faster and more flexible solutions without physical bank meetings.

3. Submit the application

The process varies by provider, but typically you will need to:

• Fill out an online application.
• Upload relevant documents.
• Answer questions about the company's purpose and activities (banks are required to know their customers, also known as KYC – "Know Your Customer").
• It is important to be able to describe your business and explain how it will generate revenue, attract customers, and remain a stable operation.

Why is it important to operate in DKK?

Although some businesses accept payments in euros, DKK remains the primary currency in Denmark. There are several advantages to sticking with the local currency:

• No currency exchange risk – You avoid fluctuations that could negatively impact your finances.
• Lower costs – Currency exchanges can be expensive, especially with frequent transactions.
• Compliance with Danish payment systems – Certain payment services and public disbursements require a NemKonto in DKK.

A business account in Denmark is essential for running a professional business. Whether you choose a traditional bank or a digital solution, it is important to ensure that the account meets your needs. By operating in Danish kroner, you can reduce costs, minimize risks, and strengthen your company’s financial foundation.

How do I keep my business account?

As a business owner using a business account, it is important to understand that the owner and director are directly responsible to the financial service provider (bank, EMI, or other financial partners).

Financial partners must ensure that your business complies with regulatory requirements, and there will be ongoing monitoring to prevent money laundering and terrorism financing.

As a business owner, it is your responsibility to ensure that your business account is used correctly and in a way that does not raise doubts about its usage. This is not just a matter of avoiding illegal activities – there must also be transparency in how the business account is used.

If a business account is used for private payments, undocumented transfers, transactions unrelated to the company’s activities, or if the transaction volume exceeds what was initially declared, this could trigger an audit and possibly lead to account closure.

All financial service providers have a responsibility to understand the use of accounts. They must not only comply with the law but also monitor account usage. If a business uses an account in a way that does not meet the provider’s internal policies, the provider has the right to close the account.

Therefore, always ensure that payments made from your business account are related to the company and can be documented with a receipt, invoice, or agreement/contract.