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
₽ 228000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽91622
₽78998
₽80223
₽90780
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
-
-
-
228 000
municipal
-
-
-
25 346
social contributions
-
-
-
2 451
pensions
-
-
-
27 360
national
-
-
-
43 195
total
-
-
-
98 352
Employee
78 516
-
197 104
-
municipal
9 698
-
26 228
-
pensions
3 141
-
7 884
-
national
15 028
-
45 128
-
total
27 867
-
79 240
-
Employer
78 516
-
197 104
-
social contributions
844
-
2 119
-
pensions
6 281
-
15 768
-
total
7 125
-
17 887
-
Corporate
137 176
228 000
-
-
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%.

27 435
45 600
-
-
total
27 435
45 600
-
-
Dividends
109 741
182 400
-
-
withholding
24 143
40 128
-
-
total
24 143
40 128
-
-
Income
228 000
228 000
228 000
228 000
Total tax
86 570
85 728
97 127
98 352
After tax
141 430
142 272
130 873
129 648
Living cost
50 650
50 650
50 650
50 650
Free-cash
90 780
91 622
80 223
78 998

Estimated living cost  is ₽50650 per week

₽34426
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4708
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽758
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.
₽10757
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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