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
₽ 165500
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽52593
₽51749
₽47149
₽48447
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
-
-
-
165 500
municipal
-
-
-
18 055
pensions
-
-
-
19 860
national
-
-
-
27 978
social contributions
-
-
-
1 779
total
-
-
-
67 672
Employee
78 562
-
143 073
-
municipal
9 704
-
18 696
-
pensions
3 142
-
5 723
-
national
15 037
-
28 971
-
total
27 883
-
53 390
-
Employer
78 562
-
143 073
-
social contributions
845
-
1 538
-
pensions
6 285
-
11 446
-
total
7 130
-
12 984
-
Corporate
74 623
165 500
-
-
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%.

14 925
33 100
-
-
total
14 925
33 100
-
-
Dividends
59 699
132 400
-
-
withholding
13 134
29 128
-
-
total
13 134
29 128
-
-
Income
165 500
165 500
165 500
165 500
Total tax
63 072
62 228
66 374
67 672
After tax
102 428
103 272
99 126
97 828
Living cost
50 679
50 679
50 679
50 679
Free-cash
51 749
52 593
48 447
47 149

Estimated living cost  is ₽50679 per week

₽34446
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4711
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽759
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.
₽10764
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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