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Financial Considerations

We strongly advise you to read the following to be able to survive financially for the very first weeks in Iceland.

Be prepared to the fact that all bureaucratic matters take time in Iceland. Obtaining residence permit, ID number, employment contract, receiving salary etc. We recommend, if possible, to bring enough money from your home country to be able to meet various expenses for the very first weeks in Iceland.

Medical examination, accommodation expenses such as down payment to secure accommodation, transportation are a few examples of expenses you might face upon your arrival in Iceland before you get paid any salary.

If possible, we recommend bringing a credit card rather than cash. Businesses and retailers in Iceland accept all main credit cards.

It can be risky to travel with cash, not only for safety reasons but also because you might face difficulties exchanging your currency into the preferred currency. The Icelandic economy is tiny so please be aware that banks in Iceland cannot accept all available currency in exchange for Icelandic kronas. The most common currencies can be exchanged, for instance, dollars and euros.

If bringing cash is the only option, please exchange it to euros or dollars in your home country.

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