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
₽ 205000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽76652
₽75800
₽67144
₽68245
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
-
-
-
205 000
municipal
-
-
-
22 648
pensions
-
-
-
24 600
national
-
-
-
37 136
social contributions
-
-
-
2 204
total
-
-
-
86 588
Employee
79 474
-
177 221
-
municipal
9 816
-
23 441
-
pensions
3 179
-
7 089
-
national
15 211
-
38 874
-
total
28 206
-
69 404
-
Employer
79 474
-
177 221
-
social contributions
854
-
1 905
-
pensions
6 358
-
14 178
-
total
7 212
-
16 083
-
Corporate
113 068
205 000
-
-
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%.

22 614
41 000
-
-
total
22 614
41 000
-
-
Dividends
90 454
164 000
-
-
withholding
19 900
36 080
-
-
total
19 900
36 080
-
-
Income
205 000
205 000
205 000
205 000
Total tax
77 932
77 080
85 487
86 588
After tax
127 068
127 920
119 513
118 412
Living cost
51 268
51 268
51 268
51 268
Free-cash
75 800
76 652
68 245
67 144

Estimated living cost  is ₽51268 per week

₽34846
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4766
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽767
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.
₽10889
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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