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
₽ 243500
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽100950
₽100102
₽86471
₽87779
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
-
-
-
243 500
municipal
-
-
-
27 145
pensions
-
-
-
29 220
national
-
-
-
47 052
social contributions
-
-
-
2 618
total
-
-
-
106 035
Employee
79 050
-
210 504
-
municipal
9 764
-
28 088
-
pensions
3 162
-
8 420
-
national
15 130
-
49 116
-
total
28 056
-
85 624
-
Employer
79 050
-
210 504
-
social contributions
850
-
2 263
-
pensions
6 324
-
16 840
-
total
7 174
-
19 103
-
Corporate
152 059
243 500
-
-
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%.

30 412
48 700
-
-
total
30 412
48 700
-
-
Dividends
121 647
194 800
-
-
withholding
26 762
42 856
-
-
total
26 762
42 856
-
-
Income
243 500
243 500
243 500
243 500
Total tax
92 404
91 556
104 727
106 035
After tax
151 096
151 944
138 773
137 465
Living cost
50 994
50 994
50 994
50 994
Free-cash
100 102
100 950
87 779
86 471

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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