One of the requirements for being granted a residence permit in Iceland or Icelandic citizenship is that applicants can show that they have enough means to financially support themselves independently.

As of 15 February 2023 the reference amount required for an individual, 18 years and older, will be raised from 212,694 ISK to 217,799 ISK per month. The amount for married couples will be raised from 340,320 ISK to 348,476 ISK per month. The amounts refer to pre-tax income.

The reference amounts correspond with the financial support criteria of the City of Reykjavík.