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
₽ 225000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽89406
₽88558
₽77274
₽78482
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
-
-
-
225 000
municipal
-
-
-
24 987
pensions
-
-
-
27 000
national
-
-
-
42 326
social contributions
-
-
-
2 419
total
-
-
-
96 732
Employee
79 050
-
194 510
-
municipal
9 764
-
25 858
-
pensions
3 162
-
7 780
-
national
15 130
-
44 234
-
total
28 056
-
77 872
-
Employer
79 050
-
194 510
-
social contributions
850
-
2 091
-
pensions
6 324
-
15 561
-
total
7 174
-
17 652
-
Corporate
133 559
225 000
-
-
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%.

26 712
45 000
-
-
total
26 712
45 000
-
-
Dividends
106 847
180 000
-
-
withholding
23 506
39 600
-
-
total
23 506
39 600
-
-
Income
225 000
225 000
225 000
225 000
Total tax
85 448
84 600
95 524
96 732
After tax
139 552
140 400
129 476
128 268
Living cost
50 994
50 994
50 994
50 994
Free-cash
88 558
89 406
78 482
77 274

Estimated living cost  is ₽50994 per week

₽34660
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4740
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽763
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.
₽10830
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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