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
₽ 155000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽45726
₽44878
₽40848
₽42065
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
-
-
-
155 000
municipal
-
-
-
16 823
pensions
-
-
-
18 600
national
-
-
-
26 069
social contributions
-
-
-
1 666
total
-
-
-
63 158
Employee
79 050
-
133 996
-
municipal
9 764
-
17 423
-
pensions
3 162
-
5 360
-
national
15 130
-
26 998
-
total
28 056
-
49 781
-
Employer
79 050
-
133 996
-
social contributions
850
-
1 440
-
pensions
6 324
-
10 720
-
total
7 174
-
12 160
-
Corporate
63 559
155 000
-
-
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%.

12 712
31 000
-
-
total
12 712
31 000
-
-
Dividends
50 847
124 000
-
-
withholding
11 186
27 280
-
-
total
11 186
27 280
-
-
Income
155 000
155 000
155 000
155 000
Total tax
59 128
58 280
61 941
63 158
After tax
95 872
96 720
93 059
91 842
Living cost
50 994
50 994
50 994
50 994
Free-cash
44 878
45 726
42 065
40 848

Estimated living cost  is ₽50994 per week

₽34660
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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