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
₽ 127500
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽24984
₽25984
₽27571
₽28420
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
-
-
-
127 500
social contributions
-
-
-
1 371
municipal
-
-
-
13 612
national
-
-
-
21 093
pensions
-
-
-
15 300
total
-
-
-
51 376
Employee
79 276
-
110 223
-
pensions
3 171
-
4 409
-
national
15 173
-
21 858
-
municipal
9 792
-
14 106
-
total
28 136
-
40 373
-
Employer
79 276
-
110 223
-
pensions
6 342
-
8 818
-
social contributions
852
-
1 185
-
total
7 194
-
10 003
-
Corporate
35 797
127 500
-
-
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%.

7 159
25 500
-
-
total
7 159
25 500
-
-
Dividends
28 638
102 000
-
-
withholding
6 300
22 440
-
-
total
6 300
22 440
-
-
Income
127 500
127 500
127 500
127 500
Total tax
48 789
47 940
50 376
51 376
After tax
78 711
79 560
77 124
76 124
Living cost
51 140
51 140
51 140
51 140
Free-cash
27 571
28 420
25 984
24 984

Estimated living cost  is ₽51140 per week

₽34759
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4754
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽765
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.
₽10861
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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