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
₴ 60500
per

Your estimated
City
free-cash

Reykjavik , Iceland
₴21133
₴19131
₴18806
₴20857
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
-
-
-
60 500
social contributions
-
-
-
650
municipal
-
-
-
6 647
pensions
-
-
-
7 260
national
-
-
-
10 518
total
-
-
-
25 075
Employee
25 762
-
52 302
-
municipal
3 182
-
6 881
-
pensions
1 030
-
2 092
-
national
4 931
-
11 031
-
total
9 143
-
20 004
-
Employer
25 762
-
52 302
-
social contributions
277
-
562
-
pensions
2 061
-
4 184
-
total
2 338
-
4 746
-
Corporate
30 700
60 500
-
-
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%.

6 140
12 100
-
-
total
6 140
12 100
-
-
Dividends
24 560
48 400
-
-
withholding
5 403
10 648
-
-
total
5 403
10 648
-
-
Income
60 500
60 500
60 500
60 500
Total tax
23 024
22 748
24 750
25 075
After tax
37 476
37 752
35 750
35 425
Living cost
16 619
16 619
16 619
16 619
Free-cash
20 857
21 133
19 131
18 806

Estimated living cost  is ₴16619 per week

₴11295
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴1545
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₴249
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.
₴3530
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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