anpartsselskaber

Anpartsselskab (ApS) is a private limited liability company in Denmark. It is one of the main corporate forms used by small and medium-sized enterprises. The liability of the owners is limited to the capital they have contributed, and the shares are not offered to the public on a stock market.

Formation requires a minimum share capital of 40,000 DKK, which must be paid in before registration. The company is established by a stiftelsesdokument and articles of association (vedtægter). The company is registered with Erhvervsstyrelsen and given a CVR number.

An ApS is managed by a direktion (executive management) and, depending on size and the articles, may have a bestyrelse (board of directors). The general meeting of the shareholders has the ultimate power. Decisions are made by majority vote. The company must keep accounting records and prepare annual accounts in accordance with Danish accounting standards. Annual reports are filed with the authorities.

Ownership is held by anpartshavere; shares are transferable subject to any restrictions in the articles of association.

ApS is subject to Danish corporate income tax at 22% on profits. It does not automatically allow public share trading; for access to public capital, an A/S would be used. It is common for startups and SMEs, including family-owned businesses.