Minimum wage increased for 2023

IMPACT — MEDIUM

The Dutch government announced that it will increase the statutory minimum wage by more than 10% in 2023.

Key Points:

• The statutory minimum wage for full-time employees who are 21 and older will increase from €1,756.20 to €1,934.45 per month on Jan. 1, 2023.
• The current minimum wage for all ages is available here.
• Minimum wage requirements for work-related residence permits remain unchanged by the Jan. 1, 2023, increase.

Additional Information: The minimum wage is mostly relevant for those who want to sponsor dependent permits and to workers over the age of 21, including employee cardholders, whose wages cannot be lower than the minimum wage. Foreign workers must be paid above the minimum wage.

BAL Analysis: Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimums into account when planning their 2023 budgets.

This alert has been provided by the BAL Global Practice Group. For additional information, please contact berryapplemanleiden@bal.com.

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