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
₽ 115000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽18491
₽19393
₽20478
₽21318
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
-
-
-
115 000
social contributions
-
-
-
1 236
municipal
-
-
-
12 171
national
-
-
-
18 860
pensions
-
-
-
13 800
total
-
-
-
46 067
Employee
78 195
-
99 416
-
pensions
3 128
-
3 977
-
national
14 966
-
19 550
-
municipal
9 658
-
12 616
-
total
27 752
-
36 143
-
Employer
78 195
-
99 416
-
pensions
6 256
-
7 953
-
social contributions
841
-
1 069
-
total
7 097
-
9 022
-
Corporate
24 548
115 000
-
-
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%.

4 910
23 000
-
-
total
4 910
23 000
-
-
Dividends
19 639
92 000
-
-
withholding
4 321
20 240
-
-
total
4 321
20 240
-
-
Income
115 000
115 000
115 000
115 000
Total tax
44 080
43 240
45 165
46 067
After tax
70 920
71 760
69 835
68 933
Living cost
50 442
50 442
50 442
50 442
Free-cash
20 478
21 318
19 393
18 491

Estimated living cost  is ₽50442 per week

₽34285
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4689
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽755
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.
₽10713
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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