Denmark is one of the top European countries who invests billions of dollars in research and development every year. The Danish information technology sector specializes in acoustics, wireless and mobile technologies, software development and robotics. The first Global System for Mobile Communications (GSM) phone was developed in Denmark. Google, Motorola, and Microsoft all have R&D centers in Denmark, with Microsoft’s being the largest in Europe. IBM is Denmark’s largest IT employer with 7,400 workers. Big business working in acoustics in Denmark include Brüel Kjaer, Delta, EC Tunes and B6 Acoustics.
Many foreign nationals are free to live and work in Denmark. However, some are required to hold a residence and work permit – this is the case for Ukrainians. The quickest way to order work permits to apply for fast-track scheme. Fast-track means a fast and flexible job start for highly qualified foreign employees. The Fast-track system makes it easier for certified companies to bring workers with special skills or qualifications to Denmark.
Denmark has the highest income tax rate as a percentage of total tax revenue. This is important to be aware of if you decide to come here to work. The new scheme entail that Expats who come to Denmark to work under the Researcher Tax Scheme have to pay a tax rate of 26% the first five years they are here. The gross tax rate will be 31.92% which includes 8% labor market contribution.
Anyone who works in Denmark and is 18 years or older at the beginning of the tax year is automatically granted a personal allowance of DKK 41,900. Additional allowances are awarded for pension scheme payments, interest expenses, transport between home and work, trade union membership fees, and unemployment insurance funds.
Cost of living
Denmark is among the most expensive countries in the world, as reflected in the Big Mac Index and other indices. Denmark scored 231 points of cost of living index, comparing to 272 points in San Francisco, USA and 67 points in Kiev, Ukraine. (According to Internet research https://www.expatistan.com/cost-of-living/index).
You can expect to pay about €930 for monthly rent for a 45 m2 (480 Sqft) furnished studio in the normal area of Copenhagen, Denmark. With €167 for utilities for one month (heating, electricity, gas) for one person in 45 m2 (480 Sqft) studio.
Monthly ticket public transport will cost you €67, or €1.38 for 1 liter of gas if you drive.
Basic dinner out for two in neighborhood pub will cost you around €71; 2 tickets to the movies about €28; 1 beer in neighborhood pub (500ml or 1pt. – €6;
Primary lunchtime menu (including a drink) in the business district – €18.