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
₽ 165000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽51966
₽51118
₽46567
₽47862
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
-
-
-
165 000
municipal
-
-
-
17 989
pensions
-
-
-
19 800
national
-
-
-
27 876
social contributions
-
-
-
1 774
total
-
-
-
67 439
Employee
79 050
-
142 641
-
municipal
9 764
-
18 628
-
pensions
3 162
-
5 706
-
national
15 130
-
28 866
-
total
28 056
-
53 200
-
Employer
79 050
-
142 641
-
social contributions
850
-
1 533
-
pensions
6 324
-
11 411
-
total
7 174
-
12 944
-
Corporate
73 559
165 000
-
-
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%.

14 712
33 000
-
-
total
14 712
33 000
-
-
Dividends
58 847
132 000
-
-
withholding
12 946
29 040
-
-
total
12 946
29 040
-
-
Income
165 000
165 000
165 000
165 000
Total tax
62 888
62 040
66 144
67 439
After tax
102 112
102 960
98 856
97 561
Living cost
50 994
50 994
50 994
50 994
Free-cash
51 118
51 966
47 862
46 567

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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