Short-term residence permit

Applicants for a short-term permit must demonstrate that they have secure means of support for the period they wish to reside in Iceland. To have secure means of support means that you are able to financially support yourself independently.

The applicant must demonstrate that they have independent means of financial support. The only exception is if the applicant's spouse, or the parent of a minor applicant, has sufficient financial means and is either also applying for a short-term residence permit or already residing in Iceland.

Amount

The minimum amount required as secure means of support is:

• 259.951 ISK for individuals per month.

• 415.922 ISK for married couples per month.

Duration

A foreigner’s means of support must be secure for as long as the residence permit is valid.

An insurance certificate must be submitted, confirming that you have taken out (purchased) a health and accident insurance

• that is valid in Iceland,

• for the duration of your stay in Iceland,

• with a minimum coverage of ISK 2,000,000.

On the website of the Financial Supervisory Authority you can find a list of Icelandic insurance companies (under Vátryggingafélög - Insurance Companies).