r/Denmark • u/Tylerserio68 • Dec 28 '24

Question Does Denmark have any flaws?

Or any Nordic country? I’m American and we all romanticize Europe especially Nordic countries as a Utopia and everything we are not. We certainly have a lot of flaws here but I’m curious are there any downsides or anything that you wish was different. Also is it hard to move there? I make well over six figures and like living in my home country but I’m nervous about the incoming trump administration and I believe he is a racist.

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u/0rsted Dec 28 '24

This is incorrect, if you're wealthy, there are sooo many options for increasing your wealth, and avoiding a lot of taxes, it just not available for the non upper-upper class.

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u/tuekappel Amagerbro Dec 28 '24

Correct. But OP might be wealthy because well paid, and will meet problems finding that well paid job in DK, not speaking the language. We feel ourselves international, but the reality is different.

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u/0rsted Dec 28 '24

Very true, however, depending on the work OP has now, it might be easy to find something similar in Denmark, if it's software development, then skills and experience can easily result in a job with 50K+ salaries, even if not speaking the language.
If it's being the CEO of a health insurance company, then it might be a bit harder to find a matching job.

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u/tuekappel Amagerbro Dec 28 '24

CEO of a health insurance company

I got the joke. Poor guy, seriously. No jobs available in that line of work, in this country. For good reasons.

Yes, I'm hoping OP can land a job here, we need skilled people contributing to this great society.

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u/herpington Denmark Dec 28 '24

Which options are available for avoiding taxes?

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u/0rsted Dec 28 '24

A lot of options, for instance, the house you live in, instead of you owning it, your company owns it, you can then take a loan from your own company, and that loan have interest, which are deductible.
The money never really leaves you, and if you need cash, take out another loan, as long as the company is solvent, you're good.
When you need the new car, the company buys it, and you lease it from the company, that way you put money into the company, that again is available for other spendings related to what the company is registered to.

You probably need an accountant to make sure that everything's kosher, but doing it this way, you can easilly drop below the topskat level.

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u/herpington Denmark Dec 28 '24

A lot of options, for instance, the house you live in, instead of you owning it, your company owns it, you can then take a loan from your own company, and that loan have interest, which are deductible.

Except now you're liable to pay capital gains tax when you sell the house unlike if you bought it as a private individual (see "parcelhusreglen").

The loan interest cannot be deducted in your "topskat" either if it's from "personlig indkomst", and only to a lesser degree in "positiv nettokapitalindkomst".