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
₽ 116000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽21734
₽18867
₽19778
₽20892
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
-
-
-
116 000
municipal
-
-
-
12 283
social contributions
-
-
-
1 247
pensions
-
-
-
13 920
national
-
-
-
19 033
total
-
-
-
46 483
Employee
78 516
-
100 281
-
municipal
9 698
-
12 732
-
pensions
3 141
-
4 011
-
national
15 028
-
19 729
-
total
27 867
-
36 472
-
Employer
78 516
-
100 281
-
social contributions
844
-
1 078
-
pensions
6 281
-
8 022
-
total
7 125
-
9 100
-
Corporate
25 176
116 000
-
-
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%.

5 035
23 200
-
-
total
5 035
23 200
-
-
Dividends
20 141
92 800
-
-
withholding
4 431
20 416
-
-
total
4 431
20 416
-
-
Income
116 000
116 000
116 000
116 000
Total tax
44 458
43 616
45 572
46 483
After tax
71 542
72 384
70 428
69 517
Living cost
50 650
50 650
50 650
50 650
Free-cash
20 892
21 734
19 778
18 867

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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