EEA or EFTA nationals that apply for registration in Iceland need to demonstrate their capacity for financial support for at least three months from their registration date. The amount is based on the minimum financial support criteria in Reykjavík.

  1. The monthly minimum subsistence for an individual is 212.694 ISK. The three-month minimum is 638.082 ISK. Employees need to demonstrate that they have at least 212.694 ISK in salary per month for at least three months. Individuals with private means of support have to demonstrate that they have at least 638.082 ISK to support them financially while staying in Iceland.
  2. The combined monthly minimum subsistence for a married couple is 340.310 ISK. The three-month minimum is 1.020.930 ISK. If the couples are employees, either one of them or both, they have to have at least 340.310 in total monthly salary for at least three months. Couples who come here as individuals with private means of support, have to demonstrate that they have at least 1.020.930 ISK combined to support them financially while staying in Iceland.
  3. In the case of descendants 18-21 years’ old that will stay with their parents, their monthly minimum subsistence is 106.346 ISK. The three-month minimum is 319.038 ISK. If the individual is fully supported by the parents, the above-mentioned amount is added to their minimum subsistence. The minimum subsistence does not increase in case of children under the age of 18 years old.
  4. In the case of an individual older than 21 years’ old that will stay with a relative (an individual) and is supported by the relative, the monthly minimum subsistence for the relative is 391.900 ISK per month. The three-month minimum is 1.175.700 ISK.
  5. In the case of an individual older than 21 years’ old that will stay with relatives (a married couple) and is supported by them, the monthly minimum subsistence for the relatives is 519.516 ISK per month. The three-month minimum is 1.558.548 ISK.