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
₴16297
₴15940
₴14491
₴14966
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
municipal
-
-
-
6 528
pensions
-
-
-
7 260
national
-
-
-
10 116
social contributions
-
-
-
650
total
-
-
-
24 554
Employee
33 259
-
52 302
-
municipal
4 108
-
6 762
-
pensions
1 330
-
2 092
-
national
6 366
-
10 479
-
total
11 804
-
19 333
-
Employer
33 259
-
52 302
-
social contributions
358
-
562
-
pensions
2 661
-
4 184
-
total
3 019
-
4 746
-
Corporate
22 027
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%.

4 405
12 100
-
-
total
4 405
12 100
-
-
Dividends
17 622
48 400
-
-
withholding
3 877
10 648
-
-
total
3 877
10 648
-
-
Income
60 500
60 500
60 500
60 500
Total tax
23 105
22 748
24 079
24 554
After tax
37 395
37 752
36 421
35 946
Living cost
21 455
21 455
21 455
21 455
Free-cash
15 940
16 297
14 966
14 491

Estimated living cost  is ₴21455 per week

₴14583
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴1994
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₴321
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.
₴4557
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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