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
₽ 155500
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽43621
₽40089
₽38868
₽42732
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
-
-
-
155 500
social contributions
-
-
-
1 672
municipal
-
-
-
16 822
national
-
-
-
26 067
pensions
-
-
-
18 660
total
-
-
-
63 221
Employee
82 797
-
134 428
-
municipal
10 227
-
17 424
-
pensions
3 312
-
5 377
-
national
15 847
-
27 000
-
total
29 386
-
49 801
-
Employer
82 797
-
134 428
-
pensions
6 624
-
10 754
-
social contributions
890
-
1 445
-
total
7 514
-
12 199
-
Corporate
59 725
155 500
-
-
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%.

11 945
31 100
-
-
total
11 945
31 100
-
-
Dividends
47 780
124 400
-
-
withholding
10 512
27 368
-
-
total
10 512
27 368
-
-
Income
155 500
155 500
155 500
155 500
Total tax
59 357
58 468
62 000
63 221
After tax
96 143
97 032
93 500
92 279
Living cost
53 411
53 411
53 411
53 411
Free-cash
42 732
43 621
40 089
38 868

Estimated living cost  is ₽53411 per week

₽36303
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4965
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽799
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.
₽11344
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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