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
₽ 240000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽85276
₽86564
₽98735
₽99568
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
-
-
-
240 000
social contributions
-
-
-
2 580
municipal
-
-
-
26 756
national
-
-
-
46 396
pensions
-
-
-
28 800
total
-
-
-
104 532
Employee
77 807
-
207 478
-
pensions
3 112
-
8 299
-
national
14 892
-
48 431
-
municipal
9 610
-
27 686
-
total
27 614
-
84 416
-
Employer
77 807
-
207 478
-
pensions
6 225
-
16 598
-
social contributions
836
-
2 230
-
total
7 061
-
18 828
-
Corporate
149 996
240 000
-
-
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%.

29 999
48 000
-
-
total
29 999
48 000
-
-
Dividends
119 997
192 000
-
-
withholding
26 399
42 240
-
-
total
26 399
42 240
-
-
Income
240 000
240 000
240 000
240 000
Total tax
91 073
90 240
103 244
104 532
After tax
148 927
149 760
136 756
135 468
Living cost
50 192
50 192
50 192
50 192
Free-cash
98 735
99 568
86 564
85 276

Estimated living cost  is ₽50192 per week

₽34115
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4666
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽751
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.
₽10660
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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