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
₴ 63000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₴17645
₴17284
₴15721
₴16216
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
-
-
-
63 000
municipal
-
-
-
6 815
pensions
-
-
-
7 560
national
-
-
-
10 560
social contributions
-
-
-
677
total
-
-
-
25 612
Employee
33 588
-
54 463
-
municipal
4 149
-
7 058
-
pensions
1 344
-
2 179
-
national
6 429
-
10 938
-
total
11 922
-
20 175
-
Employer
33 588
-
54 463
-
social contributions
361
-
585
-
pensions
2 687
-
4 357
-
total
3 048
-
4 942
-
Corporate
24 147
63 000
-
-
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%.

4 829
12 600
-
-
total
4 829
12 600
-
-
Dividends
19 318
50 400
-
-
withholding
4 250
11 088
-
-
total
4 250
11 088
-
-
Income
63 000
63 000
63 000
63 000
Total tax
24 049
23 688
25 117
25 612
After tax
38 951
39 312
37 883
37 388
Living cost
21 667
21 667
21 667
21 667
Free-cash
17 284
17 645
16 216
15 721

Estimated living cost  is ₴21667 per week

₴14727
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴2014
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₴324
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.
₴4602
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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