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
₽ 238000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽97518
₽96670
₽83737
₽85014
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
-
-
-
238 000
municipal
-
-
-
26 503
pensions
-
-
-
28 560
national
-
-
-
45 647
social contributions
-
-
-
2 559
total
-
-
-
103 269
Employee
79 050
-
205 749
-
municipal
9 764
-
27 425
-
pensions
3 162
-
8 230
-
national
15 130
-
47 665
-
total
28 056
-
83 320
-
Employer
79 050
-
205 749
-
social contributions
850
-
2 212
-
pensions
6 324
-
16 460
-
total
7 174
-
18 672
-
Corporate
146 559
238 000
-
-
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%.

29 312
47 600
-
-
total
29 312
47 600
-
-
Dividends
117 247
190 400
-
-
withholding
25 794
41 888
-
-
total
25 794
41 888
-
-
Income
238 000
238 000
238 000
238 000
Total tax
90 336
89 488
101 992
103 269
After tax
147 664
148 512
136 008
134 731
Living cost
50 994
50 994
50 994
50 994
Free-cash
96 670
97 518
85 014
83 737

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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