One of the basic requirements for a residence permit in Iceland and Icelandic citizenship is that the applicant can show that he/she can support him-/herself securely.
The minimum subsistence criteria that the Directorate of Immigration uses is based on the financial support criteria in Reykjavík.
As of January 1st 2019 the Directorate of Immigration will apply the support criteria decided by the Department of Welfare in Reykjavik in April 2018.
The minimum subsistence amount for an individual, 18 years or older, will then be 189.875 ISK per month and 284.813 ISK for a couple per month. The amounts refers to pre-tax income.
The new criteria will be applied for applications submitted as of January 1st 2019.