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
₽ 176000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽58830
₽57982
₽52858
₽53856
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
-
-
-
176 000
municipal
-
-
-
19 272
pensions
-
-
-
21 120
national
-
-
-
29 864
social contributions
-
-
-
1 892
total
-
-
-
72 148
Employee
79 050
-
152 150
-
municipal
9 764
-
19 954
-
pensions
3 162
-
6 086
-
national
15 130
-
31 302
-
total
28 056
-
57 342
-
Employer
79 050
-
152 150
-
social contributions
850
-
1 636
-
pensions
6 324
-
12 172
-
total
7 174
-
13 808
-
Corporate
84 559
176 000
-
-
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%.

16 912
35 200
-
-
total
16 912
35 200
-
-
Dividends
67 647
140 800
-
-
withholding
14 882
30 976
-
-
total
14 882
30 976
-
-
Income
176 000
176 000
176 000
176 000
Total tax
67 024
66 176
71 150
72 148
After tax
108 976
109 824
104 850
103 852
Living cost
50 994
50 994
50 994
50 994
Free-cash
57 982
58 830
53 856
52 858

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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