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
₽ 166000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽52905
₽52061
₽47433
₽48737
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
-
-
-
166 000
municipal
-
-
-
18 114
pensions
-
-
-
19 920
national
-
-
-
28 069
social contributions
-
-
-
1 785
total
-
-
-
67 888
Employee
78 562
-
143 506
-
municipal
9 704
-
18 756
-
pensions
3 142
-
5 740
-
national
15 037
-
29 065
-
total
27 883
-
53 561
-
Employer
78 562
-
143 506
-
social contributions
845
-
1 543
-
pensions
6 285
-
11 480
-
total
7 130
-
13 023
-
Corporate
75 123
166 000
-
-
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%.

15 025
33 200
-
-
total
15 025
33 200
-
-
Dividends
60 099
132 800
-
-
withholding
13 222
29 216
-
-
total
13 222
29 216
-
-
Income
166 000
166 000
166 000
166 000
Total tax
63 260
62 416
66 584
67 888
After tax
102 740
103 584
99 416
98 112
Living cost
50 679
50 679
50 679
50 679
Free-cash
52 061
52 905
48 737
47 433

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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