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
₴ 78000
per

Your estimated
City
free-cash

Reykjavik , Iceland
₴27029
₴26668
₴24099
₴24517
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
-
-
-
78 000
municipal
-
-
-
8 565
pensions
-
-
-
9 360
national
-
-
-
13 495
social contributions
-
-
-
838
total
-
-
-
32 258
Employee
33 550
-
67 430
-
municipal
4 144
-
8 867
-
pensions
1 342
-
2 697
-
national
6 422
-
14 157
-
total
11 908
-
25 721
-
Employer
33 550
-
67 430
-
social contributions
361
-
725
-
pensions
2 684
-
5 394
-
total
3 045
-
6 119
-
Corporate
39 191
78 000
-
-
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%.

7 838
15 600
-
-
total
7 838
15 600
-
-
Dividends
31 352
62 400
-
-
withholding
6 898
13 728
-
-
total
6 898
13 728
-
-
Income
78 000
78 000
78 000
78 000
Total tax
29 689
29 328
31 840
32 258
After tax
48 311
48 672
46 160
45 742
Living cost
21 643
21 643
21 643
21 643
Free-cash
26 668
27 029
24 517
24 099

Estimated living cost  is ₴21643 per week

₴14710
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴2012
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.
₴4597
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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