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
₽ 169000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽54462
₽53614
₽48854
₽50180
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
-
-
-
169 000
municipal
-
-
-
18 456
pensions
-
-
-
20 280
national
-
-
-
28 599
social contributions
-
-
-
1 817
total
-
-
-
69 152
Employee
79 050
-
146 099
-
municipal
9 764
-
19 110
-
pensions
3 162
-
5 844
-
national
15 130
-
29 613
-
total
28 056
-
54 567
-
Employer
79 050
-
146 099
-
social contributions
850
-
1 571
-
pensions
6 324
-
11 688
-
total
7 174
-
13 259
-
Corporate
77 559
169 000
-
-
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%.

15 512
33 800
-
-
total
15 512
33 800
-
-
Dividends
62 047
135 200
-
-
withholding
13 650
29 744
-
-
total
13 650
29 744
-
-
Income
169 000
169 000
169 000
169 000
Total tax
64 392
63 544
67 826
69 152
After tax
104 608
105 456
101 174
99 848
Living cost
50 994
50 994
50 994
50 994
Free-cash
53 614
54 462
50 180
48 854

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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