<i>Why not be an A/S (or ApS)?</i><p><i>Easy. As a startup you need to have a cool DKK125,000 (USD20,000) upfront in cash as share capital to be honoured with the ApS label and DKK500,000 (DKK81,000) to be an A/S. Btw. A/S is pronounced “Ahh. Ess.” and not “Ass”, you would be suprised the amount of foreigners who make that mistake.</i><p><i>There are also lots of other annoying paperwork and rules and regulations and what have you. But the above upfront capital requirement makes it inaccessible for most bootstrappers.</i><p>This disease seems to be widespread across Europe. Austria has an up-front capital requirement of €37500 for a GmbH (the equivalent of an A/S or limited liability company), I think Germany requires €10000 in capital, etc. And the governments are surprised at the small number of startups. Sorry, a partnership just doesn't cut it.