globe icon

Discover in detail the advantages of each EU country.

arrow left Country Explorer

Iceland

High quality of life, strong wages, and close-knit society with excellent work-life balance and natural surroundings.

download Download Country Report
Iceland

card group

Corporate Tax Rate 20% (2025)

The standard rate for all business profits.

With a competitive corporate tax framework, it offers a stable and attractive fiscal environment designed to support and encourage business growth.

Business
Learn More

GDP Growth 1.4% (2025)

Annual real GDP growth rate forecast.

Austria's highly advanced and resilient economy is forecast to grow steadily, driven by innovation in technology and a strong commitment to sustainable industry.

Business
See Details

Labour Cost €53,00/hr (2024)

Average hourly cost of employing a worker.

Labour costs represent an investment in a highly educated, productive, and innovative workforce, contributing to a strong, high-value economy.

Business
Learn More

R&D Tax Credit Up to 35% (2025)

Tax relief for research and development activities.

It strongly encourages innovation through generous incentives, including enhanced deductibility of research and development expenses to support technological advancement.

Business
Learn More

Annual Inflation Rate 3.7% (2025)

Measures the change in consumer prices over time.

With one of the lowest inflation rates, the economy provides strong price stability, ensuring a secure and predictable financial environment.

Work & Living
Monitor Trends

Euro Health Consumer Index Score 10th (2026)

Overall measure of national health system performance.

It offers a world-class healthcare system recognized for its excellent access, high quality of care, and strong patient outcomes.

Work & Living
See Data

Global Cost of Living Rank 7th (2026)

Measures relative costs of goods and services.

 This financial strength, paired with top-ranked quality of life and free public transport, creates a highly attractive environment for residents.

Work & Living
Learn More

Global Happiness Rank 3rd (2024)

Evaluates national wellbeing and overall life satisfaction. 

Ranking among the happiest nations, it demonstrates high levels of life satisfaction driven by economic stability, strong social support systems, and a diverse, multicultural environment.

Work & Living
Explore Data

Global Peace Index 1st (2025)

Assesses national peacefulness, safety, and security levels.

Renowned for its political stability and low crime rates, it is considered among the most secure countries, offering a safe and peaceful environment for residents and businesses alike.

Work & Living
Check Rankings

Top Personal Income Tax Rate 46.29% (2025)

Progressive personal income tax rates apply

A top personal income tax rate reflects the upper threshold of individual taxation, indicating the level of contribution required from high earners within the broader fiscal system.

Work & Living
Learn More

Visa card group

Embassies and Consulates

Iceland has embassies and consulates worldwide that offer visa services and assistance to its citizens abroad. A current list of these missions is available on the Ministry of Foreign Affairs website.

Learn More

Entry for EU Citizens

EU citizens can travel to Iceland carrying either a valid passport or a national identity card (ID card).

Learn More

Entry for Non-EU Citizens

Non-EU citizens should apply a Schengen short-stay visa. The passport or travel document of Non-EU/EEA citizens must remain valid for at least three months beyond their stay in Iceland.

Learn More
Scroll to Top