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
₽ 200000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽74078
₽65029
₽66102
₽73235
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
-
-
-
200 000
municipal
-
-
-
22 078
social contributions
-
-
-
2 150
pensions
-
-
-
24 000
national
-
-
-
36 021
total
-
-
-
84 249
Employee
78 629
-
172 898
-
municipal
9 712
-
22 852
-
pensions
3 145
-
6 916
-
national
15 050
-
37 717
-
total
27 907
-
67 485
-
Employer
78 629
-
172 898
-
social contributions
845
-
1 859
-
pensions
6 290
-
13 832
-
total
7 135
-
15 691
-
Corporate
109 046
200 000
-
-
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%.

21 809
40 000
-
-
total
21 809
40 000
-
-
Dividends
87 237
160 000
-
-
withholding
19 192
35 200
-
-
total
19 192
35 200
-
-
Income
200 000
200 000
200 000
200 000
Total tax
76 043
75 200
83 176
84 249
After tax
123 957
124 800
116 824
115 751
Living cost
50 722
50 722
50 722
50 722
Free-cash
73 235
74 078
66 102
65 029

Estimated living cost  is ₽50722 per week

₽34475
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4715
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.
₽10773
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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