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
₽ 104000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽14246
₽12005
₽12820
₽13404
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
-
-
-
104 000
municipal
-
-
-
10 883
social contributions
-
-
-
1 118
pensions
-
-
-
12 480
national
-
-
-
16 864
total
-
-
-
41 345
Employee
78 516
-
89 907
-
municipal
9 698
-
11 286
-
pensions
3 141
-
3 596
-
national
15 028
-
17 488
-
total
27 867
-
32 370
-
Employer
78 516
-
89 907
-
social contributions
844
-
967
-
pensions
6 281
-
7 193
-
total
7 125
-
8 160
-
Corporate
13 176
104 000
-
-
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%.

2 635
20 800
-
-
total
2 635
20 800
-
-
Dividends
10 541
83 200
-
-
withholding
2 319
18 304
-
-
total
2 319
18 304
-
-
Income
104 000
104 000
104 000
104 000
Total tax
39 946
39 104
40 530
41 345
After tax
64 054
64 896
63 470
62 655
Living cost
50 650
50 650
50 650
50 650
Free-cash
13 404
14 246
12 820
12 005

Estimated living cost  is ₽50650 per week

₽34426
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4708
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽758
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.
₽10757
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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