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
€ 1350
per

Your estimated
City
free-cash

Reykjavik , Iceland
€303
€334
€314
€342
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
-
-
-
1 350
national
-
-
-
225
pensions
-
-
-
162
social contributions
-
-
-
15
municipal
-
-
-
145
total
-
-
-
547
Employee
775
-
1 167
-
municipal
96
-
150
-
national
148
-
233
-
pensions
31
-
47
-
total
275
-
430
-
Employer
775
-
1 167
-
pensions
62
-
93
-
social contributions
8
-
13
-
total
70
-
106
-
Corporate
453
1 350
-
-
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%.

91
270
-
-
total
91
270
-
-
Dividends
363
1 080
-
-
withholding
80
238
-
-
total
80
238
-
-
Income
1 350
1 350
1 350
1 350
Total tax
516
508
536
547
After tax
834
842
814
803
Living cost
500
500
500
500
Free-cash
334
342
314
303

Estimated living cost  is €500 per week

€340
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
€46
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
€7
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.
€106
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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Additional information

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