Iceland

overview

Welcome to Iceland

Iceland, known for its volcanic landscapes, glaciers, and geothermal energy, is a country of stunning natural beauty. Its economy thrives on renewable energy, tourism, and fishing.

overview

Iceland Essentials

National Anthem

Lofsöngur

Independence Day

June 17 1944

Haiko

Eiffel Tower gleams / Champagne bubbles in glasses / Louvre guards Mona's smile

Interesting Tradition

Celebrates Fête de la Saint-Jean-Baptiste with bonfires and feasts

Weirdest Local Superstition

Walking backwards brings bad luck

Strangest Law Still on the Books

Illegal to name a pig Napoleon

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Come for the history, stay for the future

Come for the natural wonders, stay for the innovation: Iceland harnesses its dramatic landscapes and renewable energy to power a uniquely sustainable society. Life balances outdoor adventure with urban sophistication, where coding sessions might end with northern lights viewing. Progressive remote work policies and a growing startup ecosystem have transformed this Nordic island into a magnet for creative professionals.

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Förum

Venture into a realm where 'þetta reddast' isn't just optimism, but proven wisdom. Your story unfolds beneath northern lights and midnight sun.

overview

Velkomin til Iceland

Land of fire and ice, where volcanoes and glaciers coexist in stunning harmony

Iceland isn't just a country—it's nature's greatest show. Here, time moves between eternal summer light and winter darkness, and even a simple drive can become an expedition through Earth's most dramatic landscapes. This is a land where fire and ice create constant spectacle.

From the geothermal wonders of the Golden Circle to the untamed beauty of the Westfjords, Iceland offers adventure for every wilderness seeker. Whether you're drawn to the creative energy of Reykjavík, the glacier lagoons of Vatnajökull, or the volcanic beaches of the South Coast, you'll find a country that turns natural extremes into unforgettable experiences.

Statistics

Savor the Flavor

Eat

hákarl (fermented shark) - kjötsúpa (meat soup)

Drink

brennivín (caraway schnapps) - malt og appelsín (malt drink and orange soda)

overview

Thyrstur?

Beer

Annual consumption (liters per capita)

80

Wine

Annual consumption (liters per capita)

14

Coffee

Annual consumption (liters per capita)

12.55

Tea

Annual consumption (liters per capita)

0.67

overview

Cultural Tips and Etiquette

#1
Using surnames as address is wrong - first names for everyone including officials
#2
Hot spring etiquette includes specific rules about washing before entering
#3
Discussion of elves and hidden people should not be mocked
#4
Sharing fish head delicacies is a sign of respect
#5
Strong opinions about licorice demonstrate cultural belonging

overview

Iceland Essentials

Representative Novel

Les Misérables by Victor Hugo (Classic novel set in France capturing its social and political history)

National Animal

Gyrfalcon

National Pasttime

Football (Soccer)

National Souvenir

Bottle of champagne

National Dish

Pot-au-feu

Famous Festival

Bastille Day

Famous Dance

Can-can

Famous Music

Chanson

overview

Did You Know?

Home to the world's largest geothermal power plant, Hellisheiði, which produces renewable energy.

Iceland has no forests, it is one of the least forested countries in Europe.

The country has a unique naming system where last names are often derived from the first name of a parent.

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Iceland’s Key Historical Events

930 AD

April 2014

Establishment of the Althing (Oldest Parliament)

1262

July 2014

Union with Norway

1814

February 2015

Union with Denmark

1944

March 2015

Independence from Denmark

1980

October 2016

Cod Wars with the UK

MOBILITY

Access Iceland Residency Rights on the GlobalPassport™ Platform 

NO. OF Mobility Assets

1

MOBILITY

Citizenship Pathways and
Residency Requirements

Citizenship by Birth
No
Citizenship by DESCENT
Yes
Citizenship by MARRIAGE
7 years
DUAL Citizenship
Yes
RESIDENCY BY Naturalization
7
PASSPORT VALIDITY
10

MOBILITY

Passport Power

Visa Free Countries

152

Performance Class

World-Class Access

Passport Grade

A

Rank

26

Score

176.3

This visa grants access to:

• 46% of the world's population 

• 80% of UNESCO sites 

• 75% of global GDP 

• 60% of the world's land area 

MOBILITY

Visa-free access to:

MOBILITY

Number of American Emigrants to Iceland by Year 

Year
1990
1995
2000
2005
2010
2015
2020
Iceland
874500%
578600%
282700%
665400%
1090900%
12077
12697

MOBILITY

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Approval Time (est.)
Appointment Availability
Term (i.e. duration)
Minimum Investment
Physical Presence Requirement
Cost of Living
English Usage
Quality of Life
Healthcare Ranking
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Visa-free Country Access
Number of American Expats
More Details

Healthcare

Healthcare Overview

Key Health Indicators

Median Age

37.5

years

Life Expectancy

83.1

years

Obesity Rate

21.90%

Tobacco Use

15.50%

Sources

Health care Indicators

Health Expenditure

8.57%

of GDP

Hospital Beds

2.8

per 1000 people

Doctors

3.9

per 1000 people

Out-of-pocket

16.70%

of total expenditure

Sources

Healthcare

Did you Know?

Universal Healthcare System

Iceland offers a universal healthcare system, providing free or low-cost medical services to all residents, funded through taxation.

High-Quality Hospitals

Iceland's hospitals are known for their high quality, offering advanced medical treatments and well-trained healthcare professionals.

Healthcare for Expats

Expatriates living in Iceland have access to the public healthcare system, and many choose private insurance for additional coverage.

Telemedicine Services

Iceland is at the forefront of telemedicine, offering virtual consultations and remote healthcare services to residents in rural areas.

Focus on Preventive Care

Iceland places a strong emphasis on preventive care, offering free or low-cost screenings, vaccinations, and regular health check-ups.

Healthcare

United Healthcare Coverage Service Index (2000 - 2021)

Healthcare

Healthcare Cost Calculator

cost of living

Cost of Living Overview

Iceland presents a high cost of living, typical of Nordic countries. Reykjavik is significantly more expensive than other areas. Housing costs in Reykjavik are high, especially in the city center. Food costs are high, particularly for imported goods, though local fish and dairy are more affordable. Utilities are reasonably priced, with geothermal energy keeping heating costs low. Public transportation in Reykjavik is good but can be expensive. Education, including higher education, is mostly free for residents.

Cost of Gasoline

$2.27

per liter

Cost of Meal

$21.83

(Inexpensive Restaurant)

Monthly Rent

$1,956.96

(1 bedroom, City Center)

Monthly Utilities

$71.24

(85m² Apartment)

Domestic Beer

$10.92

(0.5 liter draught)

VAT Rate

24%

cost of living

Cost of Living plus Rent Map

cost of living

Cost of Living Calculator

cost of living

Rent Calculator

Taxation

Taxation Overview

Before moving to Iceland it's essential to understand its tax system. Iceland taxes residents on their worldwide income while non-residents are taxed only on Icelandic-source income. Income tax rates are progressive ranging from 31.48% to 46.28%. Capital gains are generally taxed as regular income. Social security contributions are mandatory. A personal identification number is used for tax purposes. Iceland has a double taxation treaty with the United States to prevent dual taxation issues.

Tax Residency Requirement

183 days

Worldwide Income Taxation

Yes

Higher Rates for Foreign Assets

No

US Double Taxation Treaty

Yes

Personal Income

Progressive tax rate based on income levels

31.48%-46.28%

Personal Capital Gains

Flat rate on investment gains

22%

Inheritance

Based on inherited amount and relationship

0%

Corporate Income

Standard corporate tax rate applied to business profits

20%

Corporate Capital Gains

Tax rate applied to capital gains from corporate investments

20%

Dividends

Withholding tax rate applied to dividend distributions

22%

Interest

Withholding rate interest payment to non-residens

12%

Royalties

Withholding tax rate for royalty payments

22%

Work Assignment

Foreign individuals are considered tax residents if they stay in Iceland for more than 183 days in any 12-month period.

Overall Ranking

Global position in PWC’c Ease of Paying Taxes ranking

42

Ease of Paying Taxes Score

Overall score based on multiple factors

83.8

Total Tax and Cotribution Rate

TTCR percentage including all mandatory contributtions

31.9
%

Time to Comply

Annual hours required to comply with tax regulations

140
HOURS

Number of Payments

Total number of tax payments required annually

21

Post-filing Index

Score measuring the ease of processes after filing taxes

87.2
%

taxation

Tax Burden Map

taxation

Income Tax Calculator

CLIMATE

Climate Type

Temperate; maritime; cool summers and mild winters

Average Temperature

1.85 °C

Humidity

80

%

Average Annual Precipitation

1,940

mm

Rainless Days per Year

227

Best Time to Travel

June-August

Questions?

Frequently Asked Questions About Gaining Residency or Citizenship in Iceland

Find answers to common questions about GlobalPassport™ and our tools guiding you towards residency or citizenship in Iceland.

What Mobility Assets are available to me in Iceland?

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What language do they speak in Iceland?

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Can I keep my own citizenship?

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