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
₽ 218000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽84906
₽84057
₽73704
₽74875
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
-
-
-
218 000
municipal
-
-
-
24 168
pensions
-
-
-
26 160
national
-
-
-
40 499
social contributions
-
-
-
2 343
total
-
-
-
93 170
Employee
79 255
-
188 459
-
municipal
9 789
-
25 011
-
pensions
3 170
-
7 538
-
national
15 169
-
42 347
-
total
28 128
-
74 896
-
Employer
79 255
-
188 459
-
social contributions
852
-
2 026
-
pensions
6 340
-
15 077
-
total
7 192
-
17 103
-
Corporate
126 322
218 000
-
-
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%.

25 264
43 600
-
-
total
25 264
43 600
-
-
Dividends
101 058
174 400
-
-
withholding
22 233
38 368
-
-
total
22 233
38 368
-
-
Income
218 000
218 000
218 000
218 000
Total tax
82 817
81 968
91 999
93 170
After tax
135 183
136 032
126 001
124 830
Living cost
51 126
51 126
51 126
51 126
Free-cash
84 057
84 906
74 875
73 704

Estimated living cost  is ₽51126 per week

₽34750
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4753
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽765
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.
₽10858
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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