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
₽ 127000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽25346
₽26343
₽27960
₽28799
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
-
-
-
127 000
social contributions
-
-
-
1 365
municipal
-
-
-
13 571
national
-
-
-
21 029
pensions
-
-
-
15 240
total
-
-
-
51 205
Employee
78 206
-
109 790
-
pensions
3 128
-
4 392
-
national
14 969
-
21 791
-
municipal
9 660
-
14 062
-
total
27 757
-
40 245
-
Employer
78 206
-
109 790
-
pensions
6 256
-
8 783
-
social contributions
841
-
1 180
-
total
7 097
-
9 963
-
Corporate
36 536
127 000
-
-
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%.

7 307
25 400
-
-
total
7 307
25 400
-
-
Dividends
29 228
101 600
-
-
withholding
6 430
22 352
-
-
total
6 430
22 352
-
-
Income
127 000
127 000
127 000
127 000
Total tax
48 591
47 752
50 208
51 205
After tax
78 409
79 248
76 792
75 795
Living cost
50 449
50 449
50 449
50 449
Free-cash
27 960
28 799
26 343
25 346

Estimated living cost  is ₽50449 per week

₽34290
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4690
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.
₽10715
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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