Denmark, a notably advanced country with a high standard of living, ranks among the top spots in education, health care, civil liberties, democratic governance, and other areas. The country follows a mixed economy. An agriculture-focussed country earlier, Denmark now has over 75% of its GDP coming from the service sector. The 20222 GDP per capita of Denmark ranks in the 10th position. Major industries of Denmark include wind turbines, pharmaceuticals, medical equipment, machinery, tourism, transportation equipment, food processing, and construction.
Copenhagen, Aarhus, Odense, Aalborg
Construction skills, Engineers, Medical Consultants, Software developers.
The top local universities in Denmark are as follows:
The table below shows the average monthly salaries of some jobs in Denmark:
|Job Title||Average Monthly Salary (DKK)||Average Monthly Salary (USD)|
|Business Development Manager||62,500||8884.44|
The employee must be paid at the end of each month.
Denmark does not have a statutory minimum wage. However, the common minimum wage would be DKK 110 per hour. Under the pay-limit scheme for 2022, the minimum gross annual salary is 448,000 DKK.
There is no law regarding overtime pay in Denmark. Usually, it will be mentioned in the collective agreement.
No legal provision for the 13th-month salary.
|Industrial injuries insurance, estimated *||5,000|
|Other public social security schemes, partly estimated||5,300|
*Please be informed that the estimated industrial injuries insurance may vary.
|Mandatory Pension Scheme (ATP)||1,135.8|
|Taxes||Income Basis||Tax Rate|
|Bottom tax||Personal income||12.10%|
|Top tax (for the part of the top tax base exceeding DKK 552,500)||Personal income||15.00%|
|Municipal tax (average)||Taxable income||24.982%|
|Labor market tax||Personal income||8.00%|
|DKK 0 to 57,200 (for married couple – 114,400 DKK)||Share income||27.00%|
|More than DKK 57,200||Share income||42.00%|
The standard VAT rate in Denmark is 25%.
The Termination process in Denmark follows a fair procedure, as indicated by the Salaried Employees Act. Employees are protected from any unfair dismissal after 12 months of employment. Employers must have a justifiable reason for terminating an employee and give written notice about the decision. A collective trade union agreement often governs the dismissal of non-salaried employees. The notice period is usually shorter than in the case of salaried employees.
The notice period for employees during the probationary period is from 14 days to 30 days, while for permanent employees, it ranges from 14 days to 180 days.
The severance pay in Denmark is as follows:
|Duration of service||Severance|
|Upto 5 months||1 month’s pay|
|5 months – 2 years and 9 months||3 month’s pay|
|2 years and 9 months – 5 years and 8 months||4 month’s pay|
|5 years and 8 months – 8 years and 7 months||5 month’s pay|
|More than 8 years and 7 months||6 month’s pay|
The visa and immigration requirements vary for different countries.
Citizens of nordic countries – Finland, Sweden, Iceland, and Norway, are free to stay and work.
EU/EEA/Swiss citizens – Need registration certificate at International Citizen Service or State administration on arrival.
Other nationals – need residence and work permits before entering Denmark.