What do you need ready before you apply?

You need a CVR number, MitID and a valid photo ID ready, plus a description of your business and your expected cash flows. You must be over 18 and live and pay tax in Denmark. You complete the whole application in the Lunar app.

Four things to have at hand

• CVR number. Your business must be registered at virk.dk . Also check that your industry code matches what you actually do. It's the most common cause of delays.
• MitID. You use it to confirm that it's you.
• Valid photo ID. Passport or driving licence. Take the photo in good light, keep the whole document within the frame, and avoid blur and glare.
• A description of your business. What you sell, to whom, which suppliers you use, and what you expect to go in and out of the account.

Don't have a CVR number yet? You can register your CVR number for free with Lunar and get your business account in one go. If you'd like to understand how registration works first, we have a guide to the CVR number .

Who can get a business account with Lunar?

• You are over 18.
• You live and pay tax in Denmark.
• Your business is a sole proprietorship, a personally owned small business (PMV), a private limited company (ApS), a public limited company (A/S) with a simple ownership structure, a partnership (I/S) or a holding company.
• The business can have one or more owners.

What gets you the fastest answer on your application?

You get the fastest answer if three things line up: your industry code on virk.dk matches what you describe, your photo ID is sharp and fully visible, and your country of birth is entered correctly. These three mistakes are behind most delays.

Three mistakes you can double-check in two minutes

1. The industry code doesn't match your description. We pull your industry code from virk.dk. If it doesn't match what you describe, we need to clear that up first. If you're setting up a carpentry business, the industry code must also be registered as carpentry. If the two don't match, we may have to reject the application. Correct the industry code on virk.dk before you apply.
2. The country of birth is wrong. We can't approve your application if your country of birth isn't entered correctly. A small field that can stop the whole case.
3. The photo of your ID is too poor. If the image is grainy, dark or cropped, we can't use it. Place your passport or driving licence on a dark, plain surface, make sure the light is good with no glare, and keep the whole document within the frame.

How to describe your business

The business description is the field people most often underestimate. It should give us an understanding of what your business does, who you trade with, and what will go in and out of the account.

You don't have to get everything exactly right. We know a new business changes along the way. But the more specific you are, the fewer follow-up questions you'll get.

Write briefly about four things: your business idea, your future plans, your suppliers and your customers.

Example of a good business description

Business idea: Petersen Carpentry and Joinery ApS carries out carpentry and joinery work. I'm the only employee, and the main focus is the sawmill, where the company also has its address. Here I cut planks and timber for sale, both to private customers and businesses, and at auction. I also carry out smaller jobs such as replacing windows and roofs and laying floors.

Future plans: Right now it's a side business. In time, the business will go full-time. I'm starting as a side business to build a wide customer network first. When that happens, I expect to hire two employees.

Suppliers: Mainly XL Byg, Bygma and Stark for building materials.

Customers: Both private customers and businesses. I expect a split of roughly 60% private and 40% business.

Partners: Jackson EL handles all electrical work in our projects, and they use us for carpentry and joinery work.

Documentation we often ask for

We may contact you after the application to ask about a few things. If you have the following ready, you can reply straight away:

• Partnership agreements. Valid and signed. If you have no partners, state that in the application with a short explanation.
• Bank statement from your current bank. Only if you're switching from another bank. If Lunar is your first business bank, simply skip this step. You can upload your statement directly in the app.
• Origin of the start-up capital. E.g. savings or a loan. We may ask for documentation.
• Split between main and secondary industry. If you have a side occupation, we'll want to know the split as a percentage. If you're a hairdresser who also sells beauty products, for example, we need to know how large each part is.
• Employer registration. If you have employees.

You can upload everything from your phone. See the guide to uploading documentation .

Special requirements in some industries

• Transport and courier. Postal and courier services, taxi companies and hauliers must have their haulage licence ready. If you drive as a subcontractor for e.g. GLS or Bring, we typically ask for the signed partnership agreement. You upload it in the app's section for partnership agreements.
• Staffing and consulting. We ask for your partnership agreements, and we need to understand your cash flows. Do you invoice by the hour, per project or on retainer?
• Holding companies. If the company is newly formed, we ask for documentation of where the start-up capital comes from, e.g. a statement from your savings account. If the company is older, we ask for a statement from the most recent banking relationship.

Why are some business account applications rejected?

An application is rejected when the overall risk assessment comes out as a no. That can be due to the industry, a complex ownership structure, missing documentation or unclear cash flows. We can't state the exact reason, because our risk model has to remain confidential.

It's worth being upfront: we say no to some businesses, and some of them are run by skilled, honest entrepreneurs. We're sorry about that. We understand the frustration if all you're trying to do is get your business going. Here's what's behind it.

We have a responsibility for security

As a regulated Danish bank , we handle thousands of payments every day. We have a responsibility to fight financial crime and make sure illegal funds don't pass through our systems.

This assessment is what we call compliance, and we have to take it very seriously. It's about protecting our customers, our customers' customers and the rest of society.

We can't always explain the exact reason

We always want to be as open and transparent as possible, and we know it falls short of that vision when we can't explain in detail why you can't get a business account with us. But if we state the exact reason, we risk someone with illegal intentions learning how to get around the system. That's why we keep the risk model confidential.

When we assess an application, we look at the business, the purpose of the account, what you'll use it for, and the company's history. Your age and gender play no role.

There's no checklist that guarantees a yes

We want to say yes. If we see challenges relative to the risk we take on, we ask follow-up questions, and we do that for the vast majority. We take questions and answers in writing, not over the phone, because we need to be able to document the dialogue.

A rejection is always an overall assessment. Complex ownership structures with several underlying companies can make things difficult for us, and we're continually working to get better at handling them.

What can you do yourself?

Three things are within your control, and they're worth spending time on before you apply:

• Make the industry code on virk.dk match what you actually do.
• Write a specific business description with customers, suppliers and expected cash flows.
• Have your documentation ready so you can answer follow-up questions straight away.

If you've been rejected, you can apply again. But it makes the most sense if something has genuinely changed, e.g. a corrected industry code, a clearer ownership structure or documentation you didn't have ready the first time.

Ready to apply?

Prioritise thoroughness over speed. The most important thing is to fill in the application properly, not just to send it quickly.

Check your industry code, take a sharp photo of your photo ID, have your documents ready, and write a business description that actually says what you do and with whom. If your documentation is ready, you can answer follow-up questions the same day instead of the same week.

Then you're ready. The application only takes a few minutes. Everything happens digitally in the app, and if you're approved, your account is ready to use right away.