DENMARK Law and Practice Contributed by: Dan Bjerg Geary, Rasmus Otterstrøm Helleland Boisen and Laura Sloth Olesen, Bech-Bruun
9.3 Foreign Currency Controls In Denmark, there are generally no foreign currency controls that hinder or prohibit the payment of fran - chise fees. There are no restrictions on transferring money from Denmark, including the payment of fran - chise fees. Furthermore, there is no requirement to obtain authori - sation from the Bank of Denmark or the franchisee’s commercial bank before making a payment. However, it is important to be aware of standard banking pro - cedures and any documentation requirements, which may vary from bank to bank. 10. Execution Formalities 10.1 Authentication, Notarisation, Witnessing, Etc There are no formalities to be observed under Danish law when signing a franchise agreement. Franchise agreements are valid without any formalities being needed (ie, authentication or notarisation of signa - tures, witnessing, registration or similar). 10.2 Electronic Signatures Electronic signatures, such as those provided by ser - vice providers (eg, Docusign), are permitted in Den - mark. Danish law does not impose specific formal requirements for the execution of agreements, mean - ing that electronic signatures hold the same legal validity as handwritten signatures.
The eIDAS Regulation Regulation (EU) 910/2014 on electronic identification and trust services for electronic transactions in the internal market (the “eIDAS Regulation”) stipulates that an electronic signature cannot be denied legal effect solely because it is electronic. Additionally, the eIDAS Regulation sets forth several technical requirements for digital signatures. Qualified electronic signatures and advanced electronic signa - tures always hold the same status as handwritten sig - natures. The European Commission has established the eIDAS Trusted List, which includes a number of providers of electronic signatures that meet the Regu - In Denmark, no specific document taxes or stamp duties apply generally to all documents. However, there may be fees associated with certain types of documents or transactions, such as registration fees when registering property or mortgages. No such taxes or stamp duties apply to franchise agreements themselves. lation’s requirements. 10.3 Stamp Duties
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