The short answer
A NemKonto is the account Danish public authorities pay into. Every business with a CVR or SE number has to have one assigned, and it is not a special product: it is an ordinary business account, registered on the CVR number, that the business has pointed at.
You ask your bank to assign it, or use the self-service for companies at nemkonto.dk. A foreign account can be used, but only if you apply for it separately.
The one that bites
The NemKonto does not move by itself when you switch banks. Until the new account is assigned, refunds keep landing in the old one.
What a NemKonto actually is
It is a register, not an account type. When a public authority owes your business money, it looks up the CVR number in the NemKonto register and finds the account you have pointed at. The authority never has to ask you for account details, and you never have to send them.
What lands there:
- VAT refunds, when your input VAT is larger than your output VAT.
- Tax refunds to the business.
- Grants and other payments from the state, a region or a municipality.
Which account can be your NemKonto
Any ordinary account in the business's own name, with a Danish reg.- and account number, can be assigned. Most businesses use their everyday business account, which keeps the money in one place and the bookkeeping simple.
This is where a cheap foreign account gets expensive in a different currency. An account with a Lithuanian or Belgian account number is not automatically your NemKonto; using one means applying for it. If you are comparing providers on price, compare on this too. Our ranked list of Danish business accounts keeps the foreign ones in their own group for exactly that reason.
How it is assigned
- 1 Register the business and get the CVR number.
- 2 Open the business account, or decide which existing account it should be.
- 3 Ask the bank to assign it as the NemKonto, or use the self-service for companies at nemkonto.dk.
- 4 Check that it is registered before the first refund is due.
A business with several CVR or SE numbers assigns one per number. A holding company and an operating company are two businesses, and each needs its own.
When you switch banks
The NemKonto stays pointed at the old account until somebody changes it. That is why a VAT refund can arrive weeks after a switch, in an account you thought was closed. Assign the new account as soon as it is open, and keep the old one open until nothing has landed there for a full period.
The rest of the move has the same character: agreements that look automatic are not. We go through it in how to switch business bank.
This guide describes the general rules. It is not tax or legal advice; ask your accountant about your own situation.
Frequently asked questions
Does my business need a NemKonto?
Yes. Once the business has a CVR or SE number, an account has to be assigned as its NemKonto. That is the account public authorities pay into, and without it the money cannot be sent to you.
Is a NemKonto a special kind of account?
No. It is an ordinary account the business has pointed at, registered on the CVR number. The same account can be both your everyday business account and your NemKonto.
How do I get a NemKonto assigned?
You ask your bank to assign the account as your NemKonto once the CVR number is in place. There is also a self-service solution for companies at nemkonto.dk.
What is paid into the NemKonto?
Payments from public authorities. Typically VAT and tax refunds, but also grants and other payments from the state, the region or the municipality.
Can a foreign account be a NemKonto?
It is possible, but it has to be applied for separately. If the business has an account with a foreign account number, in Lithuania or Belgium for instance, it is not automatically your NemKonto.
What happens to the NemKonto when I switch banks?
It does not follow by itself. Once the new account is open, it has to be assigned as the NemKonto before payouts from public authorities reach the right account. It is one of the steps most often forgotten in a bank switch.
A Danish business account that can be your NemKonto
SEJR Konto has a Danish reg.- and account number, can be assigned as the business NemKonto and comes with a company card. From 249 kr. a month with the setup fee waived, and the application takes a few minutes.