The Principality of Liechtenstein is the fourth smallest country in Europe, geographically located in Central Europe, bordering Switzerland to the west and Austria to the east. The population is 38,896 people, 34% of whom are foreigners. One-third of its population was born outside the principality. The capital of the principality is the city of Vaduz.
The official language is German, but it is spoken mainly in the Alemannic dialect of German.
It is a country known for its medieval castles and picturesque mountain villages, home to numerous museums, a variety of cultural and sports facilities, theaters, cinemas, public pools and a golf park. In winter, ice rinks, ski and snowboard slopes are also open. It is also one of the richest countries in the world.
Liechtenstein is an industrial-agrarian country. Its economy is closely linked to Switzerland and the official currency is the Swiss franc, CHF.
The country, offering economic stability, low taxes and in this episode, we will explore minimum and average incomes, the variety of professions and the way salaries are distributed in different regions. We will also look at taxes on income and the cost of living in Liechtenstein.
Minimum wage
Liechtenstein has no statutory minimum wage, but different industries and employers usually set their own standards of collective agreements for different branches. However, the average salary is high, reflecting the high standards of living in the country.
The lowest minimum wages are in the hotel and restaurant sector, around CHF 2 200 per month or EUR 2,331
Average salary
The average gross monthly salary in Liechtenstein is CHF 7 155 or EUR 7 581
Professionals in areas such as healthcare, finance, technology and engineering have the highest salaries in Liechtenstein.
Wage Distribution in the Regions
Due to its small area and dense population, Liechtenstein has no significant regional wage variations. High incomes and financial stability are key features of the whole country, only in some smaller cities and rural areas can there be slight differences in wages.
Distribution of wages by occupation
Let’s take a closer look at salaries by profession in Liechtenstein:
Doctor – 17 299 CHF / 18 330 €
Insurer – 17 186 CHF / 18 210 €
IT – 6 255 CHF / 6 628 €
Accountant – 8 909 CHF / 9 440 €
Human Resources Specialist – 2 595 CHF / 2 750 €
Lawyer – 7 856 CHF / 8 324 €
Cook – 3 648 CHF / 3 865 €
Barman – 2 595 CHF / 2 750 €
Seller – 4 349 CHF / 4 608 €
Builder – 4 417 CHF / 4 680 €
Production Employee – 1894 CHF / 2 007 €
Income taxes
Liechtenstein has a progressive income tax system.
Tax rates range from 2.5% to 35%. and
The exact rate depends on the taxable income.
Municipal taxes are added to state taxes and this tax is usually between 15% and 20% of state tax.
Social security contributions are calculated separately and are about 10% of the gross wage. Persons who are members of the Roman Catholic or Protestant Church pay a church tax, and this tax is about 0.5% of the taxable income.
Cost of living
If you are considering moving to Liechtenstein, the different costs I will choose will help you make an informed decision about the costs associated with moving and living in this part of Europe.
Housing costs
For a 1-bedroom apartment outside the city center: CHF 671 – 1 300 / € 710 – 1 377
Expenditure on food, groceries and restaurants:
Cheap restaurant: CHF 15 – 50 / € 16 – 53
Homebrew: CHF 4 – 8 / € 4.25 – 8.50
Coca-cola/pepsi: CHF 2.50 – 5 / € 2.65 – 5.30
1L milk: CHF 1.28 – 2 / € 1.36 – 2.12
Bread: CHF 3.26 – 3,55 / € 3.45 – 3.76
12 eggs: CHF 3.95 – 10 / € 4.20 – 10.60
1 kg chicken fillets: CHF 9 – 10.40 / € 9.54 – 11
1 kg of beef: CHF14 – 32 / € 14.83 – 33.90
1 kg apples: CHF 3 / € 3.18
For transport:
One-way ticket (local transport) – CHF 4.21- 6.10 / € 4.46 – 6.46
Monthly card – CHF 50 – 99.70 / € 53 – 105.64
Internet
For month CHF 92.54 – 102.87 / € 98 – 109
For clothing, personal belongings, fitness and leisure:
Here are some of some useful prices.
Pair of jeans: CHF 85 – 88.04 / € 90 – 93.30
Summer dress: CHF 37.59 – 45 / € 39.80 – 47.68
Running shoes (sneakers): CHF 80 – 120 / € 84.77 – 127.15
Business shoes: CHF 125 – 149.87 / € 132.45 – 158.80
Short visit to the doctor (15 minutes): CHF 80 / € 84.77
Deodorant: CHF 3.75 / € 3.97
Champagne: CHF 7 / €7.42
Toilet paper (4 rolls): CHF 2 / € 2.12
Monthly gym membership: CHF 65 – 79.17 / € 68.87 – 83.89
Cinema (cinema) ticket: CHF 12 – 30 / € 12.72 – 31.79