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
₴11248
₴10234
₴9758
₴10807
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
-
-
-
6 404
national
-
-
-
9 924
pensions
-
-
-
7 260
total
-
-
-
24 238
Employee
41 086
-
52 302
-
municipal
5 075
-
6 638
-
pensions
1 643
-
2 092
-
national
7 864
-
10 286
-
total
14 582
-
19 016
-
Employer
41 086
-
52 302
-
pensions
3 287
-
4 184
-
social contributions
442
-
562
-
total
3 729
-
4 746
-
Corporate
12 974
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%.

2 595
12 100
-
-
total
2 595
12 100
-
-
Dividends
10 379
48 400
-
-
withholding
2 283
10 648
-
-
total
2 283
10 648
-
-
Income
60 500
60 500
60 500
60 500
Total tax
23 189
22 748
23 762
24 238
After tax
37 311
37 752
36 738
36 262
Living cost
26 504
26 504
26 504
26 504
Free-cash
10 807
11 248
10 234
9 758

Estimated living cost  is ₴26504 per week

₴18014
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴2464
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₴397
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.
₴5629
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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Estimated living cost

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