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Denmark

Make the most of Denmark's high-income economy, and let Blacktower help you make the most of your money.

Plan

overseas asset management

Help

with pensions, savings & investments

Ensure

your money works for you

Average yearly wage

522,892 DKK

Average retirement age

67

Average weekly working hours

37

Currency

Danish Krona (DKK)

We are one of the most comprehensive and experienced wealth management companies around and our range of holistic financial planning services covers all your needs whether you are in the world.

Living in Denmark

Denmark is known for its egalitarian society and high standards of living. As one of the most socially and economically developed sovereign states, it consistently ranks highly in national performance metrics – which is why many expats choose to move to Denmark.

While the country hits high notes for education, healthcare, democratic governance, prosperity, and having one of the world’s highest per-capita incomes, the downside is the personal income tax rate, which is extremely high.

But with the right financial advice, your wealth management plan in Denmark can help to ensure you don’t pay more tax than you need to, and that you pay it in the most appropriate jurisdiction. We can also assist you in making sure your investments are optimised to help you achieve your financial goals.

Denmark can offer British expats many wonderful life opportunities and experiences, so it pays to have the expert financial advice behind you, to help you navigate the monetary landscape.

Benefits of living in Denmark

Like other Scandinavian nations, the cost of living in Denmark is known to be higher than other European countries; but there are so many benefits to moving here – not least because it was voted the second happiest country in the world in 2020.

The laidback lifestyle

Like the rest of Scandinavia, Denmark is a tolerant, equal society, with an emphasis on work/life balance and family time. One of the most popular ways to commute to work is by bike (there are extensive cycle paths in the cities); and the Danes are renowned for ‘hygge’, which loosely translates to ‘cosy’. Think warm nights in curled up on the couch with plenty of candles lit, or long evenings spent in pubs chatting with friends.

Excellent shopping and cultural opportunities

The Danes are known for being a fashionable nationality, and the shopping opportunities in Copenhagen and Aarhus don’t disappoint. But as an expat in Denmark, you’ll enjoy more than just the design and style aspects. Taking Copenhagen as an example, there are lots of cultural opportunities to experience, such as visiting one of the 17 Michelin star restaurants, or catching one of the renowned Royal Danish ballet’s shows.

Seamless welfare system

Taxes may be high in Denmark, but they’re used wisely. In addition to free healthcare for residents in Denmark, as an expat, you can also enjoy free education for your child(ren), excellent maternity benefits, and well-maintained parks, beaches, wilderness areas and public spaces, as well as clean and regular public transportation systems – all of which contribute towards the high standards of living the country is known for.

Best cities to move to in Denmark

No matter where you’re living in Denmark – whether it’s a metropolitan city or a quaint town – you’ll get to enjoy all the benefits the country has to offer.

Copenhagen

  • Pint of beer: 49 DKK (£5.90)
  • Cappuccino: 39.39 DKK (£4.75)
  • Meal in a restaurant: 130 DKK (£15.65)
  • Monthly public transport pass: 507 DKK (£61)
  • Population: 602,481

Many expats move to Copenhagen due to the vast opportunities in the life science, cleantech and IT sectors; whilst enjoying everything the Danish capital has to offer. The coloured buildings of Nyhavn and the bright lights of Tivoli may spring to mind when you think of Copenhagen; but the city has much more to discover, with charming alleys hosting a range of shops, cafes, restaurants and bars.

When choosing where to settle down, Vesterbro and Nørrebro are popular places amongst professionals, due to the sheer amount of amenities, whereas many families settle in leafy Frederiksberg, which is just a short metro ride from the city centre.

Aarhus

  • Pint of beer: 47.50 DKK (£.5.71)
  • Cappuccino: 39 DKK (£4.70)
  • Meal in a restaurant: 105 DKK (£12.63)
  • Monthly public transport pass: 379 DKK (£45.57)
  • Population: 336,411

Denmark’s second biggest city still retains the style and charm the country is known for, but on a slightly smaller scale. The main street of Ryesgade makes way for the Aarhus river, which is lined with restaurants and bars.

Aarhus docks has recently been transformed, and is now home to many luxury flats – most notably Isbjerget; an apartment block that’s designed to look like an iceberg. For families or those that prefer to live away from the city centre, Risskov and Braband are both popular areas to settle down.

Many expats moving to Denmark secure jobs at Aarhus University, or at one of the major companies that have a head office in Aarhus, like Arla Foods, Tetra Pak, and Danske Bank.

Odense

  • Pint of beer: 40 DKK (£6.80)
  • Cappuccino: 37.83 DKK (£3.80)
  • Meal in a restaurant: 130 DKK (£8.80)
  • Monthly public transport pass: 375 DKK (£48.20)
  • Population: 200,703

Located on the island of Funen, Odense is halfway between Copenhagen and Aarhus. Expats preferring a ‘tight-knit’ community feel often settle in Denmark’s third most populous city.

Odense is the third biggest city in the world for R&D robotics, with more than 100 industrial robotics companies having offices here – a huge source of employment for expats in Denmark.

Days off in Odense are often spent at one of the many museums, such as the Hans Christian Andersen museum, the Danish Railway museum, or Funen Village – an open-air museum featuring historic buildings. However, the city centre also boasts a range of shops, bars and restaurants; and the coastal towns of Kerteminde and Nyborg, are both a short drive away from Odense.

Managing your finances in Denmark

British expats in Denmark should understand that not all financial advisers in the country are fully regulated, so you may have limited redress if the advice they give you is negligent or damaging. Blacktower is authorised and regulated by the Financial Services Commission (FSC) in Denmark, so you can be assured of our high standards of client care.

Whatever the reason for your move to Denmark – whether it’s for career progression, to be with family or to enjoy your retirement – we can offer a  range of financial services for you, including:

  • Pension planning and pension reviews
  • International pension transfers: including SIPPs and QROPS
  • Wealth management solutions: including access to top-rated private banks, tax effective investing, and access to lending and credit lines
  • Discretionary fund management solutions
  • Non-discretionary fund adviser services: including advice on risk and asset allocation

Our team can also help you understand the tax implications of a move to Denmark, how to establish your tax residency, and how to make the most of expatriate tax schemes and allowances.

Get in touch with us today by filling out the form above, or giving us a call on +45 89 872 172.

Contact the Denmark Office

Business Centre Nord
Lyngbyvej 20 2100 Denmark

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Blacktower was created to bring independent wealth management advice and financial planning solutions to a global client base. Since its inception over 30 years ago, the business has grown from strength to strength into one of the most recognised industry leaders.

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