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
₴ 70000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₴19754
₴20303
₴21685
₴22045
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
-
-
-
70 000
social contributions
-
-
-
753
municipal
-
-
-
7 632
national
-
-
-
11 826
pensions
-
-
-
8 400
total
-
-
-
28 611
Employee
33 538
-
60 514
-
pensions
1 342
-
2 421
-
national
6 419
-
12 246
-
municipal
4 142
-
7 903
-
total
11 903
-
22 570
-
Employer
33 538
-
60 514
-
pensions
2 683
-
4 841
-
social contributions
361
-
651
-
total
3 044
-
5 492
-
Corporate
31 205
70 000
-
-
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%.

6 241
14 000
-
-
total
6 241
14 000
-
-
Dividends
24 964
56 000
-
-
withholding
5 492
12 320
-
-
total
5 492
12 320
-
-
Income
70 000
70 000
70 000
70 000
Total tax
26 680
26 320
28 062
28 611
After tax
43 320
43 680
41 938
41 389
Living cost
21 635
21 635
21 635
21 635
Free-cash
21 685
22 045
20 303
19 754

Estimated living cost  is ₴21635 per week

₴14705
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴2011
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.
₴4595
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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