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
₽ 241000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽99116
₽98264
₽85042
₽86336
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
-
-
-
241 000
municipal
-
-
-
26 847
pensions
-
-
-
28 920
national
-
-
-
46 332
social contributions
-
-
-
2 591
total
-
-
-
104 690
Employee
79 474
-
208 342
-
municipal
9 816
-
27 780
-
pensions
3 179
-
8 334
-
national
15 211
-
48 375
-
total
28 206
-
84 489
-
Employer
79 474
-
208 342
-
social contributions
854
-
2 240
-
pensions
6 358
-
16 667
-
total
7 212
-
18 907
-
Corporate
149 068
241 000
-
-
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%.

29 814
48 200
-
-
total
29 814
48 200
-
-
Dividends
119 254
192 800
-
-
withholding
26 236
42 416
-
-
total
26 236
42 416
-
-
Income
241 000
241 000
241 000
241 000
Total tax
91 468
90 616
103 396
104 690
After tax
149 532
150 384
137 604
136 310
Living cost
51 268
51 268
51 268
51 268
Free-cash
98 264
99 116
86 336
85 042

Estimated living cost  is ₽51268 per week

₽34846
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4766
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽767
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.
₽10889
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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