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
₽ 113000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽19976
₽19136
₽17258
₽18146
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
-
-
-
113 000
municipal
-
-
-
11 936
pensions
-
-
-
13 560
national
-
-
-
18 495
social contributions
-
-
-
1 215
total
-
-
-
45 206
Employee
78 339
-
97 687
-
municipal
9 676
-
12 373
-
pensions
3 134
-
3 907
-
national
14 994
-
19 173
-
total
27 804
-
35 453
-
Employer
78 339
-
97 687
-
social contributions
842
-
1 050
-
pensions
6 267
-
7 815
-
total
7 109
-
8 865
-
Corporate
22 381
113 000
-
-
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%.

4 476
22 600
-
-
total
4 476
22 600
-
-
Dividends
17 905
90 400
-
-
withholding
3 939
19 888
-
-
total
3 939
19 888
-
-
Income
113 000
113 000
113 000
113 000
Total tax
43 328
42 488
44 318
45 206
After tax
69 672
70 512
68 682
67 794
Living cost
50 536
50 536
50 536
50 536
Free-cash
19 136
19 976
18 146
17 258

Estimated living cost  is ₽50536 per week

₽34348
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4698
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽756
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.
₽10733
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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