Starting an ApS as a foreigner.

Hello Amino! Recently I've found out about you - heard lots of good things about your community.

I am planning to starting my entrepreneurial adventure - me and my partners are in the final stage of planning and having a clear idea of ​​our business. I've lived in Denmark for 2 years now and having all the Permits needed.

We have accumulated enough capital to start an ApS company, having our domain and logo ready. The question is, what do we do now? I've found a very Insightful website ( http://www.doingbusiness.org/data/exploreeconomies/denmark/starting-a-business ) that instructed me to put the money into my company account, which I first need to set-up at my bank. 

I will definitely need help of one of my Danish friends to set up the company online - virk.dk is obviously in Danish. This is of my concerns - not fully understanding what I'm signing up for may cost me in the future. I've found a website ( http://www.ditselskab.dk/ ) that was recommended here on Amino however after inquiring through mail I got an automatic answer that the lawyer is on holiday until 5th March - and we want to get started ASAP (and try to limit any extra costs ..)

Also, one of my partners is here in Denmark and the other one permanently resides in Poland - will this be a problem when making the Shareholders Agreement?

When we put 50.000 DKK into the company's account, can we liquidate it? That is buy necessary tools and equipment needed to run the company? Will the value paid (the one on the invoice) be its value when it comes to determining the share capital?

If there's anything more I can tell to make it all easier, please let me know. Hopefully we can figure something out.

Best regards,

Mateo

Hi John!

Thanks for your insight. Why do you think we should wait until he's back from holiday? Not saying it's a bad idea, just curious about the reasons.

So if I use 7000 out of 50000 to buy a tool I need and I have invoice saying that it's worth this much, is the company worth still 50000? I know the tool looses some value over time, just curious how it looks in the first stages of business.

Also, what if I import said tool from abroad (other EU country)? How is the value calculated?

Thanks again and enjoy your Monday!

Well if Jacob Tøjner is on holiday - he is not likely to personally attend to the question :)

You just get an invoice and do not need to prove the value as such. If you write it off - your value of the company will go down 7.000 dkk, and if it gets under halv original capital, you will need to have a formal General Assembly and decide in that, how and when you expect to restore the full capital - that's all. 
Just try to keep it full, as you will hopefully also have an income in it the company -

Mateo@puuf.dk:

Also, what if I import said tool from abroad (other EU country)? How is the value calculated?

vh John H 

Mateo@puuf.dk:

He's on holiday which means I'll look for another attorney that could assist me sooner - I'm very eager to start. 

Does it mean that if I buy a tool and write it off [mark it as expense] the virtual value drops to 0? What if I want to spend 50.000+ DKK on resources and tools and write them all off? Why would their value not count towards the capital (except if the tool is worth more than 12.900)?

Thanks for the recommendation, I'll get in touch with Thomas.

Also remember the duties you have as owner of an ApS - it is not just - found and run it - 

This is in danish about the rules for companies http://johnhannover.blogspot.dk/2016/06/10-anvisninger-inden-du-stifter-ivs.html 

br John H

Mateo. Try

http://www.michaelthiesen.dk/6309/

He is a part of the same office as Jacob.

Mateo@puuf.dk:

I have talked to an accountant and made sure about the company value - whatever I buy and have an invoice for, can be counted towards the company capital share - if I want a specific value, I can ask an accountant to estimate it based on the materials/documents provided.

HM  not so easy to understand. What you buy - can be of a value in your yearly report - and influence the capital value, but often you will just depreciate - either taxwise or have separate depreciations for tax and accounting. In that way, most things will de-valuate and not as such just directly go in with its purchase value as part af the "company capital"

In general you will, to oversimplify a bit, have your start company capital and then by the end of the year, the result of the year will either reduce or increase that capital

During the year, if the company capital goes below 50% of the original, you shall have a general assembly and decide in that, how/when to restore it 

I think you should find a danish online help for you accounting. You can get good offers from www.agera.dk 

br John Hannover

Hi Mateo, I am also inspired of your concern this kinda give me interest to also consider this service. My only concern if Amino will allows business such as mine it its brand name that is outsource from other service like at http://eatmywords.com/, are they working on that kind of business not fully done with Amino service?