Licenses to operate as a bank, mortgage bank, securities trader or insurance company are conditional on the applicant having its head office and domicile in Denmark. Branches of EU-licensed undertakings are allowed.

"§ 7. 
Companies that carry out business that consists of receiving deposits or other funds from the public that must be repaid and of granting loans for their own account, however not on the basis of the issuance of mortgage bonds, cf. § 8, subsection. 3, must be licensed as a bank. [...]

§ 8. 
Companies that grant loans against registered mortgages on real estate on the basis of the issuance of mortgage bonds must be licensed as a mortgage bank. [...]

§ 9. 
Companies, if a permanent business or on a professional basis provides investment services or performs investment activities mentioned in Annex 4, section A, are securities traders and must be licensed as securities traders [...]

§ 10. 
Companies must have a license as an investment management company to perform the day-to-day management of investment associations and administer other UCITS, cf. Appendix 6. [...]

§ 11. 
Companies that carry out insurance business, including reinsurance business, must have a license as an insurance company or captive reinsurance company, cf., however, §§ 30 and 31. [...]

§ 14. 
The Danish FSA grants permission when
1) the requirements in §§ 7, 8, 9, 10 or 11 are met,
[...]
9) The applicant has his head office and domicile in Denmark and
10) pcs. 2 or §§ 18-21 and para. 2, 1st sentence, is fulfilled.
[...]

§ 30.
A foreign undertaking which has been authorized to carry on the business referred to in §§ 7-11 in another country within the European Union or in a country with which the Union has concluded an agreement in the financial field may commence business in this country through a branch 2 months after the Danish Financial Supervisory Authority has received notification of this from the supervisory authorities in the home country, cf. 4 and 6-9. The branch may carry out the activities mentioned in Annexes 2-4, 7 and 8, provided that these are covered by the company's license in the home country. 1. pkt. shall apply mutatis mutandis to credit institutions and investment firms authorized to carry out activities referred to in Annex 4 in another country within the European Union or in a country with which the Union has concluded an agreement in the financial field,and who will carry out such activities in this country through an affiliated agent established in this country, if the activities are covered by the permission of the institute or company in the home country.
[...]"
(Financial Business Act (No. 1447 of 11/09/2020), last amended by Act no. 1166 of 08/06/2021, §§ 7-11, 14 and 30 [google translation])
Financial Business Act (No. 1447 of 11/09/2020), last amended by Act no. 1166 of 08/06/2021, §§ 7-11, 14 and 30
[<a href="https://www.retsinformation.dk/eli/lta/2020/1447">Act</a>]