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
£ 1250
per

Your estimated
City
free-cash

Reykjavik , Iceland
£344
£338
£307
£316
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
-
-
-
1 250
municipal
-
-
-
135
pensions
-
-
-
150
national
-
-
-
209
social contributions
-
-
-
13
total
-
-
-
507
Employee
676
-
1 081
-
municipal
83
-
140
-
pensions
27
-
43
-
national
129
-
217
-
total
239
-
400
-
Employer
676
-
1 081
-
social contributions
7
-
12
-
pensions
54
-
86
-
total
61
-
98
-
Corporate
468
1 250
-
-
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%.

94
250
-
-
total
94
250
-
-
Dividends
375
1 000
-
-
withholding
82
220
-
-
total
82
220
-
-
Income
1 250
1 250
1 250
1 250
Total tax
476
470
498
507
After tax
774
780
752
743
Living cost
436
436
436
436
Free-cash
338
344
316
307

Estimated living cost  is £436 per week

£296
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
£41
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.
£93
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.

Source of data for Reykjavik model

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Estimated living cost

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