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
₽ 197000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽72249
₽71405
₽63566
₽64624
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
-
-
-
197 000
municipal
-
-
-
21 729
pensions
-
-
-
23 640
national
-
-
-
35 268
social contributions
-
-
-
2 118
total
-
-
-
82 755
Employee
78 562
-
170 305
-
municipal
9 704
-
22 492
-
pensions
3 142
-
6 812
-
national
15 037
-
36 938
-
total
27 883
-
66 242
-
Employer
78 562
-
170 305
-
social contributions
845
-
1 831
-
pensions
6 285
-
13 624
-
total
7 130
-
15 455
-
Corporate
106 123
197 000
-
-
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%.

21 225
39 400
-
-
total
21 225
39 400
-
-
Dividends
84 899
157 600
-
-
withholding
18 678
34 672
-
-
total
18 678
34 672
-
-
Income
197 000
197 000
197 000
197 000
Total tax
74 916
74 072
81 697
82 755
After tax
122 084
122 928
115 303
114 245
Living cost
50 679
50 679
50 679
50 679
Free-cash
71 405
72 249
64 624
63 566

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.
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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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