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
₽ 103000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽13282
₽12433
₽11114
₽11922
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
-
-
-
103 000
municipal
-
-
-
10 758
pensions
-
-
-
12 360
national
-
-
-
16 671
social contributions
-
-
-
1 107
total
-
-
-
40 896
Employee
79 044
-
89 043
-
municipal
9 763
-
11 157
-
pensions
3 162
-
3 562
-
national
15 129
-
17 289
-
total
28 054
-
32 008
-
Employer
79 044
-
89 043
-
social contributions
850
-
957
-
pensions
6 324
-
7 123
-
total
7 174
-
8 080
-
Corporate
11 566
103 000
-
-
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%.

2 313
20 600
-
-
total
2 313
20 600
-
-
Dividends
9 253
82 400
-
-
withholding
2 036
18 128
-
-
total
2 036
18 128
-
-
Income
103 000
103 000
103 000
103 000
Total tax
39 577
38 728
40 088
40 896
After tax
63 423
64 272
62 912
62 104
Living cost
50 990
50 990
50 990
50 990
Free-cash
12 433
13 282
11 922
11 114

Estimated living cost  is ₽50990 per week

₽34657
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4740
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽763
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.
₽10830
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.
 Adjust living cost Show details Source

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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