The ApS must have a minimum subscribed capital of DKK 80,000 (approx. EUR 10,800). The capital must be fully paid up in cash.
The A/S requires a minimum subscribed capital of DKK 500,000 (approx. EUR 68,000). At least 25 % of the capital must be paid up in cash.
The minimum subscribed capital can also be made up by non-cash contributions. The non-cash contribution must be capable of objective assessment.
In both the A/S and the ApS, dividends may be distributed ordinarily, i.e. as approved on the annual general meeting, or extraordinarily, in which case the need of interim accounts may be optimal for the board.
In both the A/S and the ApS, dividends may only be distributed from current profits (as approved in the annual report), profits from previous years, or eligible reserves. The distribution of dividends is further limited; as dividends must not exceed an objectively reasonable amount, given the company’s financial positions (as represented in the financial statements and annual report or interim financial statements, as the case may be).
Ordinary dividend distributions must be approved by the general meeting. Extraordinary dividend distributions may be approved by the board of directors if so authorised by the general meeting.
Accounting and auditing requirements
Both the A/S and ApS must, at the close of each financial year, prepare financial statements which are audited (as a general rule) and filed within five months. The financial statements of both the A/S and the ApS are subject to publicity requirements.