One of the requirements for being granted a residence permit in Iceland or Icelandic citizenship is that applicants can show that they have enough means to financially support themselves independently.

As of 18 May 2026 the reference amount required for an individual, 18 years and older, will be raised from 247.572 ISK to 259.951 ISK per month. The amount for married couples will be raised from 396.115 ISK to 415.922 ISK per month. The amounts refer to pre-tax income.

The new reference amounts apply for applications received as of 18 May 2026.

The reference amounts correspond with the financial support criteria of the City of Reykjavík.