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
₴ 65000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₴18896
₴18535
₴16868
₴17378
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
-
-
-
65 000
municipal
-
-
-
7 048
pensions
-
-
-
7 800
national
-
-
-
10 921
social contributions
-
-
-
699
total
-
-
-
26 468
Employee
33 583
-
56 192
-
municipal
4 148
-
7 300
-
pensions
1 343
-
2 248
-
national
6 428
-
11 311
-
total
11 919
-
20 859
-
Employer
33 583
-
56 192
-
social contributions
361
-
604
-
pensions
2 687
-
4 495
-
total
3 048
-
5 099
-
Corporate
26 153
65 000
-
-
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%.

5 231
13 000
-
-
total
5 231
13 000
-
-
Dividends
20 922
52 000
-
-
withholding
4 603
11 440
-
-
total
4 603
11 440
-
-
Income
65 000
65 000
65 000
65 000
Total tax
24 801
24 440
25 958
26 468
After tax
40 199
40 560
39 042
38 532
Living cost
21 664
21 664
21 664
21 664
Free-cash
18 535
18 896
17 378
16 868

Estimated living cost  is ₴21664 per week

₴14725
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.
₴4601
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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