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
₽ 124000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽26386
₽25537
₽23124
₽24096
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
-
-
-
124 000
municipal
-
-
-
13 207
pensions
-
-
-
14 880
national
-
-
-
20 466
social contributions
-
-
-
1 333
total
-
-
-
49 886
Employee
79 044
-
107 197
-
municipal
9 763
-
13 688
-
pensions
3 162
-
4 288
-
national
15 129
-
21 210
-
total
28 054
-
39 186
-
Employer
79 044
-
107 197
-
social contributions
850
-
1 152
-
pensions
6 324
-
8 576
-
total
7 174
-
9 728
-
Corporate
32 566
124 000
-
-
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%.

6 513
24 800
-
-
total
6 513
24 800
-
-
Dividends
26 053
99 200
-
-
withholding
5 732
21 824
-
-
total
5 732
21 824
-
-
Income
124 000
124 000
124 000
124 000
Total tax
47 473
46 624
48 914
49 886
After tax
76 527
77 376
75 086
74 114
Living cost
50 990
50 990
50 990
50 990
Free-cash
25 537
26 386
24 096
23 124

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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