Recent changes affecting Iceland citizenship in 2026
Income threshold stable in ISK terms. The minimum income requirements remain ISK 1,000,000/month (single) and ISK 1,300,000/month (with spouse/partner). The EUR equivalent fluctuates with the ISK exchange rate: at early 2026 rates, approximately €6,900 single and €9,000 couple. The Directorate of Immigration calculates ISK equivalents at the decision date, not the application date.
Residence permit fees raised January 2026. The fee for residence permit applications (relevant for conversion from the Long-Term Visa to a qualifying permit class) rose to ISK 80,000 effective 1 January 2026. The Long-Term Visa application fee itself remains at ISK 12,200 (approximately €90).
Health insurance requirement and Table of Benefits clarified. The minimum health insurance coverage remains ISK 2,000,000 per person (€14,000 at 2026 rates), with strict requirements that the policy be valid in Iceland and across the Schengen area for the entire duration of the visa. Travel insurance does not qualify.
Application process unchanged. The Long-Term Visa application remains paper-based via form L-802, mailed to the Directorate of Immigration in Kópavogur. Iceland has not implemented an online portal for this visa category through 2026, in contrast to Latvia, Hungary, and most other EU DNV countries.
12-month no-reapply rule firmly in force. Applicants who have been issued a Long-Term Visa cannot reapply within 12 months of the previous visa's expiration. This rule, in place since the programme's 2020 launch, remains strictly enforced.
Schengen-visa-exempt nationality requirement stable. The visa remains available only to nationals from countries that are Schengen-visa-exempt for short stays. The Brexit-era addition of the UK to this category remains in force. No new nationalities have been added or removed through 2026.