Residence permits on grounds of legitimate and special purpose

Applicants must demonstrate that they have secure means of support for the period they wish to reside in Iceland. To have secure means of support means that you are able to financially support yourself independently.

The Directorate of Immigration may obtain tax returns and documents from tax authorities in confirmation of this.

Amount

The minimum amount required as secure means of support is:

• 247.572 ISK for individuals per month.

• 396.115 ISK for married couples per month.

• 123.786 ISK additionally for family members 18 years of age or older.

The amount corresponds to the basic amount of financial assistance from the City of Reykjavík, see rules on financial assistance (in Icelandic). The amounts are based on income before taxation.

Duration

A foreigner’s means of support must be secure for as long as the residence permit is valid. This means that if a residence permit is issued for one year, secure means of support for one year must be demonstrated.

The following is not considered secure means of support

• Payments in the form of social assistance, by the state or municipality (other than housing compensation (húsnæðisbætur)). If an applicant has received such compensation and is unable to demonstrate satisfactory support through other means, a residence permit will be rejected. 

• Alimony payments and child allowance, since their purpose is to support a child.

• Support by a third party, in other instances than stated above.

• Assets other than bank-account balances (for example real estate) and dividend from companies, interest or other payments that cannot be reliably expected to be available for payment.

• Cash is not considered as satisfactory confirmation of support.

An insurance certificate must be submitted, confirming that the applicant has taken out (purchased) a health insurance

• that is valid in Iceland,

• for at least six months from the date of the registration of the applicant's legal domicile in Iceland,

• with a minimum coverage of ISK 2,000,000.

Six months after registering your legal domicile with Registers Iceland you will be automatically covered by the national health insurance.

When applying for a residence permit no matters may exist that could cause the applicant being denied entry or stay in Iceland.

This means that you may not have

• during the past five years, served a prison sentence abroad or been sentenced there to punishment for conduct which under Icelandic law would be subject to imprisonment of longer than three months

• been sentenced for a punishable offence in Iceland, or to be subject to security measures for conduct liable to imprisonment, for longer than three months or have been sentenced to imprisonment more than once in the past three years