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
₽ 245000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₽101613
₽100761
₽87032
₽88347
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
-
-
-
245 000
municipal
-
-
-
27 313
pensions
-
-
-
29 400
national
-
-
-
47 354
social contributions
-
-
-
2 634
total
-
-
-
106 701
Employee
79 474
-
211 800
-
municipal
9 816
-
28 262
-
pensions
3 179
-
8 472
-
national
15 211
-
49 431
-
total
28 206
-
86 165
-
Employer
79 474
-
211 800
-
social contributions
854
-
2 277
-
pensions
6 358
-
16 944
-
total
7 212
-
19 221
-
Corporate
153 069
245 000
-
-
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%.

30 614
49 000
-
-
total
30 614
49 000
-
-
Dividends
122 455
196 000
-
-
withholding
26 940
43 120
-
-
total
26 940
43 120
-
-
Income
245 000
245 000
245 000
245 000
Total tax
92 972
92 120
105 386
106 701
After tax
152 028
152 880
139 614
138 299
Living cost
51 267
51 267
51 267
51 267
Free-cash
100 761
101 613
88 347
87 032

Estimated living cost  is ₽51267 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.
₽10888
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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