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
₽ 242000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽100329
₽99485
₽85939
₽87238
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
-
-
-
242 000
municipal
-
-
-
26 978
pensions
-
-
-
29 040
national
-
-
-
46 762
social contributions
-
-
-
2 602
total
-
-
-
105 382
Employee
78 562
-
209 207
-
municipal
9 704
-
27 915
-
pensions
3 142
-
8 368
-
national
15 037
-
48 814
-
total
27 883
-
85 097
-
Employer
78 562
-
209 207
-
social contributions
845
-
2 249
-
pensions
6 285
-
16 737
-
total
7 130
-
18 986
-
Corporate
151 123
242 000
-
-
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%.

30 225
48 400
-
-
total
30 225
48 400
-
-
Dividends
120 899
193 600
-
-
withholding
26 598
42 592
-
-
total
26 598
42 592
-
-
Income
242 000
242 000
242 000
242 000
Total tax
91 836
90 992
104 083
105 382
After tax
150 164
151 008
137 917
136 618
Living cost
50 679
50 679
50 679
50 679
Free-cash
99 485
100 329
87 238
85 939

Estimated living cost  is ₽50679 per week

₽34446
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽4711
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽759
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.
₽10764
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.
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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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