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
₴ 87000
per

Your estimated
City
free-cash

Reykjavik , Iceland
-₴58352
-₴61784
-₴59034
-₴109262
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
-
-
-
87 000
social contributions
-
-
-
935
pensions
-
-
-
10 440
national
-
-
-
11 297
municipal
-
-
-
7 290
total
-
-
-
29 962
Employee
179 933
-
75 211
-
municipal
22 225
-
7 627
-
national
34 439
-
11 819
-
pensions
7 197
-
3 008
-
total
63 861
-
22 454
-
Employer
179 933
-
75 211
-
pensions
14 395
-
6 017
-
social contributions
1 934
-
809
-
total
16 329
-
6 826
-
Corporate
-
87 000
-
-
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%.

-
17 400
-
-
total
-
17 400
-
-
Dividends
-
69 600
-
-
withholding
-
15 312
-
-
total
-
15 312
-
-
Income
87 000
87 000
87 000
87 000
Total tax
80 190
32 712
29 280
29 962
After tax
6 810
54 288
57 720
57 038
Living cost
116 072
116 072
116 072
116 072
Free-cash
-109 262
-61 784
-58 352
-59 034

Estimated living cost  is ₴116072 per month

₴78893
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴10790
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₴1737
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.
₴24652
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.
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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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