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
₴32647
₴32286
₴28575
₴29042
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
municipal
-
-
-
9 614
pensions
-
-
-
10 440
national
-
-
-
15 795
social contributions
-
-
-
935
total
-
-
-
36 784
Employee
33 548
-
75 211
-
municipal
4 144
-
9 951
-
pensions
1 342
-
3 008
-
national
6 421
-
16 532
-
total
11 907
-
29 491
-
Employer
33 548
-
75 211
-
social contributions
361
-
809
-
pensions
2 684
-
6 017
-
total
3 045
-
6 826
-
Corporate
48 193
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%.

9 639
17 400
-
-
total
9 639
17 400
-
-
Dividends
38 555
69 600
-
-
withholding
8 482
15 312
-
-
total
8 482
15 312
-
-
Income
87 000
87 000
87 000
87 000
Total tax
33 073
32 712
36 317
36 784
After tax
53 927
54 288
50 683
50 216
Living cost
21 641
21 641
21 641
21 641
Free-cash
32 286
32 647
29 042
28 575

Estimated living cost  is ₴21641 per week

₴14709
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.
₴4596
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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