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
₽41618
₽46555
₽45715
₽42839
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
municipal
-
-
-
16 894
pensions
-
-
-
18 660
social contributions
-
-
-
1 672
national
-
-
-
26 179
total
-
-
-
63 405
Employee
78 248
-
134 428
-
municipal
9 665
-
17 496
-
national
14 977
-
27 112
-
pensions
3 130
-
5 377
-
total
27 772
-
49 985
-
Employer
78 248
-
134 428
-
pensions
6 260
-
10 754
-
social contributions
841
-
1 445
-
total
7 101
-
12 199
-
Corporate
64 986
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%.

12 997
31 100
-
-
total
12 997
31 100
-
-
Dividends
51 989
124 400
-
-
withholding
11 438
27 368
-
-
total
11 438
27 368
-
-
Income
155 500
155 500
155 500
155 500
Total tax
59 308
58 468
62 184
63 405
After tax
96 192
97 032
93 316
92 095
Living cost
50 477
50 477
50 477
50 477
Free-cash
45 715
46 555
42 839
41 618

Estimated living cost  is ₽50477 per week

₽34309
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4692
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽756
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.
₽10721
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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