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
₽ 164000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽51068
₽50216
₽45738
₽47025
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
-
-
-
164 000
municipal
-
-
-
17 866
pensions
-
-
-
19 680
national
-
-
-
27 685
social contributions
-
-
-
1 763
total
-
-
-
66 994
Employee
79 474
-
141 777
-
municipal
9 816
-
18 501
-
pensions
3 179
-
5 671
-
national
15 211
-
28 669
-
total
28 206
-
52 841
-
Employer
79 474
-
141 777
-
social contributions
854
-
1 524
-
pensions
6 358
-
11 342
-
total
7 212
-
12 866
-
Corporate
72 068
164 000
-
-
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%.

14 414
32 800
-
-
total
14 414
32 800
-
-
Dividends
57 654
131 200
-
-
withholding
12 684
28 864
-
-
total
12 684
28 864
-
-
Income
164 000
164 000
164 000
164 000
Total tax
62 516
61 664
65 707
66 994
After tax
101 484
102 336
98 293
97 006
Living cost
51 268
51 268
51 268
51 268
Free-cash
50 216
51 068
47 025
45 738

Estimated living cost  is ₽51268 per week

₽34846
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4766
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽767
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.
₽10889
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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