Iceland
Long-Term Remote Work Visa · Reykjavik
A premium, tax-free six-month adventure for high earners — breathtaking and ultra-safe, but priced for it and impossible to extend.
ISK 1,000,000/mo
20–30 days
6 months
95/100
240 Mbps
Very high
Subpolar oceanic
UTC+0
Model your move to Iceland
Set who's coming and what you earn. We'll handle eligibility, taxes, contributions, living costs and what you'd have left — and compare it to home.
Staying more than ~183 days?
Affects tax residency for territorial & exempt regimes.
Your monthly life in Iceland
Pre-filled with typical costs in Reykjavik. Drag or type to match your life.
A nice place in a popular area
Power, water, gas
Home fibre + data
Food at home
Transit, rideshare, fuel
Private cover nomads usually need
Eating out, coffee, going out
Shopping, gym, subscriptions, misc.
You're $1,300/mo short
Needs $7,300/mo.
Your qualifying income
$6,000
$6,000
$3,612
$2,388
Tax in Iceland
Effective rate
0.0%
- Income tax / mo
- $0
- Social security / mo
- Not charged
- Total deductions / mo
- $0
- Take-home / mo
- $6,000
Under 183 days you stay outside the local system; your home country keeps covering you.
Private health insurance isn't required for this visa, but most nomads carry it — it's already counted in your living costs above.
The 6-month cap keeps you below tax residency, so foreign income is untaxed.
vs. United States
Tax
22.8% at home → 0.0% here
Same lifestyle costs
$4,105 at home → $3,612 here
Money left over
$529 at home → $2,388 here
Estimates for planning only — actual tax depends on treaties, your residency and personal circumstances. Confirm with official sources and a qualified advisor before you move.
What it takes to qualify
Income & savings
- Monthly income (single)
- ISK 1,000,000
- Basis
- ≈ISK 1,000,000/month (≈$7,300)
- Family add-on
- +ISK 300,000 spouse · +ISK 0/child
- Combine two incomes?
- No — main applicant only
Couples must show ≈ISK 1,300,000/month combined.
The visa
- Program
- Long-Term Remote Work Visa
- Introduced
- 2020
- Duration
- 6 months, non-renewable
- Max total stay
- 6 months
- Fees
- $90 (approx)
- Who can apply
- Employees, Freelancers
- Bring family?
- Yes
- Schengen access
- Yes
ISK 12,200 application fee. A short, non-renewable 180-day visa (not a residence permit) for high earners — open only to nationals who are already visa-free for the Schengen area.
What you'll actually pay
Income tax
- Treatment
- Foreign income not taxed for nomads
- Headline rate
- 46%
- Tax residency at
- 183 days
- Employee social
- Usually home-covered
The 6-month cap keeps you below tax residency, so foreign income is untaxed.
Good news
There's effectively no local income tax to worry about on your foreign earnings here.
Reviewed Source: Directorate of Immigration
Path to residency & citizenship
This is a lifestyle visa: great for living here now, but time on it doesn't count toward permanent residency or a passport.
Purely a short-stay permit; no residency or citizenship path.
Reviewed Source: Directorate of Immigration
Typical costs in Reykjavik
Rent (1-bed)
$1,900
Rent (family)
$2,800
Groceries / person
$500
Utilities
$150
Internet
$45
Transport / person
$90
Health insurance
$90
Dining / person
$450
Cost index 88/100 vs New York · prices are about 118% of US levels (PPP). Monthly figures shown in USD.
Highlights & watch-outs
What makes it great
- Among the safest places in the world.
- Stunning nature and excellent connectivity.
- Tax-free thanks to the 6-month cap.
What to watch
- Very expensive.
- Only 6 months, non-renewable; needs ~$7,300/mo income.
Reviewed Source: Directorate of Immigration
Compare Iceland
Head-to-head with similar destinations.
Moving to Iceland from…
See the tax & cost picture for your home country.