The World Bank: Denmark is best in Europe for setting up and doing business

Company law  Written on 20.11.2015

In October the World Bank published its international report “Doing Business” on the ease with which one may start and run a business in a given country. The report covers 189 countries ranked according to 11 indicators. “Doing Business” is widely quoted and well-known among investors.

Once more, Denmark has taken a step up in the world ranking from fourth place in 2014 and fifth place in 2013. In this latest report, only Singapore and New Zealand are ahead of Denmark, and Denmark is thus the top-ranking European country. Amongst others, the report states that Denmark is one of a number of countries, which have made it easier to start up from scratch, inter alia by improving online procedures.

The ranking of a country on the list depends on a number of quantitative indicators: Starting a business, obtaining a construction permit, getting connected to the electricity supply, registering property, obtaining credit, protecting minority investors, paying taxes and the bureaucracy in tax matters, cross-border trading, enforcement of contracts and resolution of insolvency. Moreover, the report contains data on industrial relations legislation, although, in this year’s report, this is not an indicator included in the final placement.

Each of these indicators comprises a wide selection of detailed partial indicators, the purpose of which is to capture the complexity in the 189 different countries’ legislative and administrative framework for their business communities, and which enable a cross-border comparison to be drawn.

Contact our specialists if you have questions on setting up a business in Denmark.

You may read more on the report on the Danish Ministry of Foreign Affairs’ website:  http://um.dk/en/news/newsdisplaypage/?newsid=ea224bc2-32f1-43a2-a067-9370cad74bc8