The period of validity of passports is ten years from the date of application and five years for children under the age of 18.

If a passport is lost or stolen and there is more than one year remaining in its validity, the new passport shall be granted the same period of validity as the one that was lost. If the period of validity is less than one year, the new passport shall be valid for a full period from the date of application.

A stolen or lost passport must be reported to the Registers Iceland.

You can see general information on passports.