Interview with Anastasija Loseva

Anastasija, a seasoned senior accountant, and her family moved to Denmark eight years ago due to her husband’s job relocation. 

Transitioning to a new country brought its own set of challenges and opportunities, both professionally and personally. In our conversation, Anastasija shares her insights on adjusting to life in Denmark, managing personal finances, and the valuable support systems that have aided her journey.

Can you share the story of your move to Denmark and what prompted it?

Our move to Denmark was primarily due to my husband’s job. He was offered an opportunity here, and we decided to relocate as a family. It was a significant decision, but it was driven by his career advancement and the new opportunities it presented.

Anastasija explained that her expertise in finance and accounting, which she developed through her previous role in Lithuania, has been valuable in managing her finances and adapting to the new financial environment in Denmark.

Before moving to Denmark, I worked as a senior accountant in Lithuania. This experience gave me a solid understanding of financial management and budgeting, which proved useful when navigating the new financial system here. I was familiar with the importance of keeping track of expenses and planning ahead, which helped me manage the transition smoothly.

Her experience in Lithuania helped her apply her financial skills to address the challenges of moving to a new country with a different economic system.

How did the transition impact your financial planning?

The move required careful financial planning. I had to account for various costs, including the higher living expenses in Denmark compared to our previous location. This meant adjusting our budget to accommodate things like higher rent, utilities, and transportation costs. 

We also had to navigate the Danish tax system and open a SKAT card, which was a learning curve for us.

What were some of the administrative tasks you had to handle when you first moved to Denmark?

One important task was obtaining a SKAT card. A SKAT card is essential for managing taxes in Denmark. It’s essentially a tax identification card that helps in calculating your tax rate and ensuring proper tax withholding. When I first arrived, I needed to visit the local tax office to apply for it.

The process was straightforward but required some paperwork. You need to provide identification, proof of address, and details about your income or business activities. Once you have your SKAT card, it helps in making sure that the taxes are properly deducted from your salary or business earnings. It’s a crucial step to avoid any issues with the tax authorities."

Did you encounter any challenges in this process?

The most challenging part was getting familiar with the Danish tax system and understanding how the SKAT card fits into it. I had to learn about different tax rates and how they apply to my situation. Thankfully, the local tax office was helpful, and I also consulted with a tax advisor to ensure I was doing everything correctly.

What advice do you have for others planning to move to Denmark, especially regarding personal budgeting?

Whatever it is, the way you tell your story online can make all thIf you’re considering moving to Denmark, one crucial piece of advice is to be fully aware of the cost of living. Prices for everyday items, groceries, and dining out can be quite high compared to what you might be used to. Careful budgeting is essential to manage these expenses effectively.

Transportation is another significant factor. Whether you’re commuting or using public transport, these costs can quickly add up. If you’re living outside Copenhagen, it’s even more important to keep an eye on these expenses as they can be higher. Factor transportation costs into your budget to avoid surprises.

Managing subscription services is also key. It’s easy to forget about ongoing subscriptions, which can gradually accumulate and impact your budget. Regularly reviewing and adjusting your subscriptions can help you keep your finances under control.

Make sure your salary aligns with your expected living expenses. It’s crucial to review your financial situation regularly to ensure it meets your needs. Also, don’t forget to manage your subscriptions and recurring payments. Regularly checking and adjusting these can prevent overspending.e difference.

How did your personal and professional life change when moving to Denmark?

Our move to Denmark was driven by my husband’s job, which meant significant changes for our family. Professionally, I was a senior accountant in my home country, so adjusting to the Danish financial environment was quite a transition. Adapting to new financial systems, tax regulations, and professional practices took some time, but it also offered new opportunities for growth and learning.

On a personal level, integrating into a new culture and navigating daily life in a new country presented its own set of challenges. It required a lot of adaptation and resilience, but it has been a rewarding experience overall.

What advice do you have for people who are moving to Denmark or starting a business here, especially regarding financial matters?

My primary advice is to consult with a professional financial advisor, especially if you’re new to Denmark or starting a business. Denmark's financial and tax systems can be complex, and having a professional guide you through the process can be invaluable. For example, getting a SKAT card and understanding the tax obligations is crucial. I initially tried to handle things on my own, but soon realized the importance of having expert guidance.

Why do you emphasize the need for professional advice?

The financial landscape in Denmark is quite different from other countries, and there are specific regulations and tax laws that you need to comply with. A financial advisor can help you navigate these regulations and avoid costly mistakes. For instance, understanding the implications of various tax rates and deductions can make a significant difference in your financial planning. It's better to consult with someone who knows the ins and outs of the system rather than trying to figure it all out by yourself.

How are you finding life in Denmark now, and what support has been valuable for you?

Now that we’ve settled in, I’m very happy with life in Denmark. The quality of life here is excellent, and the supportive community has made a big difference. Career Club DK has been particularly valuable, offering resources and networking opportunities that have helped us navigate the transition smoothly. I’m looking forward to continuing our journey in Denmark and embracing the new opportunities that lie ahead.

Anastasija’s key advice to individuals who are interested in moving to Denmark or foreign citizens in Denmark:

Taxes: Learn the taxing system, the sooner you do so, the better. 

Savings: Having sufficient savings is crucial for a comfortable transition. Savings can also grow over time if managed properly.

Cost of Living: It's essential to understand the high cost of living in Denmark, including rent, utilities, and other expenses. Salaries should be evaluated to ensure they are sufficient to cover these costs. A salary may seem very high in your local currency, but it may end up being too low for living comfortably in Denmark. 

Transportation Costs: Consider expenses for commuting, fuel, tools and vehicle maintenance, especially if living outside major cities like Copenhagen, Odense, Ålborg etc’. 

You can connect with Anastasija here.

Article By

Judy Cohen