Iceland: Increased Residence Permit and Citizenship Income Requirements

Last Updated on February 26, 2023

Key Points  

  • Iceland increased the minimum living standard income for foreign nationals applying for residence permits or the right to citizenship  


The government of Iceland increased the required living standard income for applicants applying for residence permits and the right to citizenship in the country. As of 15 February 2023, applicants 18 years of age or older must have an income of at least ISK 217,799 per month. The standard income for married couples will increase to ISK 348,476 per month. 

What are the Changes?  

Effective February 15, 2023, Iceland's government has raised the minimum income required for individuals seeking residence permits and citizenship in the country. Any applicant aged 18 or older must now have a monthly income of at least ISK 217,799, while married couples must demonstrate a combined monthly income of at least ISK 348,476.  

Looking Ahead  

Continue to check the government of Iceland’s website and Envoy’s website for the latest updates and information.  

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Content in this publication is for informational purposes only and not intended as legal advice, nor should it be relied on as such. For additional information on the issues discussed, consult an attorney at one of the two U.S. Law Firms working with the Envoy Platform or another qualified professional. On non-U.S. immigration issues, consult an Envoy global immigration service provider or another qualified representative.