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
₽ 223000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽76654
₽77851
₽87870
₽88710
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
-
-
-
223 000
social contributions
-
-
-
2 397
municipal
-
-
-
24 768
national
-
-
-
41 979
pensions
-
-
-
26 760
total
-
-
-
95 904
Employee
78 195
-
192 781
-
pensions
3 128
-
7 711
-
national
14 966
-
43 870
-
municipal
9 658
-
25 631
-
total
27 752
-
77 212
-
Employer
78 195
-
192 781
-
pensions
6 256
-
15 423
-
social contributions
841
-
2 072
-
total
7 097
-
17 495
-
Corporate
132 548
223 000
-
-
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%.

26 510
44 600
-
-
total
26 510
44 600
-
-
Dividends
106 039
178 400
-
-
withholding
23 329
39 248
-
-
total
23 329
39 248
-
-
Income
223 000
223 000
223 000
223 000
Total tax
84 688
83 848
94 707
95 904
After tax
138 312
139 152
128 293
127 096
Living cost
50 442
50 442
50 442
50 442
Free-cash
87 870
88 710
77 851
76 654

Estimated living cost  is ₽50442 per week

₽34285
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4689
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽755
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.
₽10713
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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