Enter your average income below to estimate applicable free-cash in all major European cities. By free-cash we mean your disposable income, left in your pocket after paying tax, rent, insurance, public transport, food expenses and basic entertainment. How does it work?

average income is
€ 1050
per

Your estimated
City
free-cash

Reykjavik , Iceland
€149
€134
€127
€141
S + D Salary + Dividends

Salary + Dividends. A combination of a fixed monthly income with a bonus at the end of the year.

Dividends

Dividends. A single payment made annually out of accumulated profits.

Salary

Salary. A fixed monthly income you pay yourself to cover your living expenses.

Sole trader

Sole trader. You're running your business as an individual with an unlimited responsibility

Sole trader
-
-
-
1 050
social contributions
-
-
-
11
municipal
-
-
-
110
pensions
-
-
-
126
national
-
-
-
170
total
-
-
-
417
Employee
784
-
908
-
municipal
97
-
114
-
pensions
31
-
36
-
national
150
-
177
-
total
278
-
327
-
Employer
784
-
908
-
social contributions
8
-
10
-
pensions
63
-
73
-
total
71
-
83
-
Corporate
143
1 050
-
-
income

Corporate income tax will depend on a type of legal entity. For LLC and Limited Partnership it is set at 20%. All other entities pay 37.6%.

29
210
-
-
total
29
210
-
-
Dividends
114
840
-
-
withholding
25
185
-
-
total
25
185
-
-
Income
1 050
1 050
1 050
1 050
Total tax
403
395
410
417
After tax
647
655
640
633
Living cost
506
506
506
506
Free-cash
141
149
134
127

Estimated living cost  is €506 per week

€344
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
€47
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
€8
Clothing and shoes. We estimate one pair of shoes and trainers, and several items of clothing each year, or slightly more often if you choose cheaper mass market stores. Twice as often for kids.
€107
Food and entertainment. We estimate that you will have breakfast at a cafe once a week, evening meal at a restaurant once a week, and visit bars once a week for drinks.Other days you prepare meals at home.
€0
I'm drinking at home rarely or never.
€0
I do not smoke or smoke very rarely.
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Additional information

It is very difficult to get a residence permit on a basis of self-employment for a Third Country National (non-EU/EFTA/Swiss and without a long-term EU resident permit). EU/EFTA nationals and long-term EU resident permit holders can register self-employed and apply for a permanent residence.

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