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13. Aug 2020

New Requirements for the Retention of Corporate Documents by Danish Companies

Under the Danish Companies Act (the “Act”) Danish limited companies are obligated to ensure that a number of corporate documents are prepared and kept. As part of the general increased focus on compliance and control with respect to such companies, recent legislation has been introduced, requiring corporate documents to be kept for a period of five years following the end of the accounting year, in which the documents have been prepared. The new requirements enter into force on 1 January 2021. Failure to comply with the requirements may in severe cases ultimately result in the compulsory dissolution of the company in question, in addition to fines being imposed. The consequences for the companies and resulting matters to be considered in connection with M&A transactions are the focus of this article.

Dan Moalem

Partner

+45 30 37 96 10

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Henning Hedegaard Thomsen

Senior Associate

+45 30 37 96 18

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