Iceland is already on every traveler's bucket list, but with a lot of peace,
quiet, and a higher than average internet speed.
It's also a great place to work remotely.
I know this from experience because I've been traveling the world for 20 years
and working remotely for more than half of them.
I've been to Iceland five times,
and now you can too with the country's brand new remote work
long stay visa. This Visa is already available now,
and in this video I'll tell you what the requirements are and how you can apply,
and I'll also share with you some of the good,
the bad and the ugly of living there as a digital nomad so that you can make
the right decision for you.
But before we get into the pros and cons of living in Iceland,
what does this Remote Work Visa offer?
How much does it cost and how do you apply this?
Visa is open to people of all nationalities who want to
live and work in Iceland for up to six months,
and word on the street is there will also be an option to extend coming
in 2021. So watch the comments for updates.
You can apply as a single couple or family,
and you can also apply even if your country is currently restricted from
travel to Europe during the Covid Pandemic. To qualify for this visa,
you'll need five things.
The first thing you'll need to do is prove that you are either self-employed or
you work for a foreign non Icelandic company.
And this is just to ensure that you don't pose a risk for taking any jobs
away from locals. The second thing you'll need to do is have money.
You'll need to prove that you make at least 1 million Icelandic Kona
per month,
which is equal to about 7,500 US dollars or
a salary of $90,000 per year.
And that income requirement jumps to 1.3 million Kona per month
if you are applying as a couple or a family.
So that's upwards of $10,000 per month in income.
That might sound high to you,
but this is because despite the many cheap flight offers you might have
seen to Iceland, it is a very expensive place for foreigners to live.
And this is primarily because of the exchange rate,
but also because of the cost of food goods and services.
For example,
living in Iceland is 30% higher on average than living in
the us,
and the cost of goods and food is 50% higher than it is in
Austin, Texas. For example.
Once you have the work and income requirement down,
you'll need health insurance coverage with a minimum value of
2 million krona equal to about 15,000 US dollars.
But luckily that's really easy to get with a company like SafetyWing
for very low monthly prices,
you can get policies with upwards of $250,000 in
coverage and you can get more information on that and check rates in the link in
this video's description.
The fourth thing you'll need to do is pay the application or processing fee
of 11,000 Iceland at Corona or about $83.
And then the last thing you'll need to do is get all of your documentation,
proof of employment, proof of income certified,
and verified with an oppo style,
which is kind of an annoying process if you've ever been through it,
but you can get more details on how to get your documents oppo styled by
contacting your local government embassy or consulate.
The timeline to process the application is about three to four weeks,
and then you can book your trip to arrive three months from that point.
And then your 180 day stay will start from the date of arrival in
Iceland. Now, correct me if I'm wrong,
but your next question probably has to do something along the lines of
travel to Europe. If you get this remote work visa in Iceland,
can you travel to Europe? And the answer is yes.
So because Iceland is a Schengen country,
you can typically only stay in the Schengen for 90 days total
across all 26 plus member nations.
But if you do get Iceland's remote work permit,
you could stay in 90 days in Iceland and then you can travel to mainland Europe
for another 90 days without leaving the region.
Estonia has a similar perk that you can get more information about in this video
about the Estonia digital nomad visa.
You could live in Estonia for up to one year,
and then you could travel in and out of Estonia to neighboring Changan countries
on that 90 day Schengen visa.
So the real question now is should you apply?
Should you go live in Iceland for six months?
And I can give you some advice based on my own personal experience and having
traveled there five times for different reasons, for fun, for work,
for a wedding, all sorts of things.
So I think that you should consider working remotely in Iceland. First of all,
if you've never been before, it is such a unique country,
unlike any other country I've been to,
and I think it would be amazing if everyone had the opportunity to go live and
work there at least once just to see this really unique pristine
country.
It's also a good option for you if you're craving adventure and a
challenge because I can say from experience that life in the Icelandic
countryside is a bit rugged. It's not for the faint of heart.
Very, Wendy, this is why I'm by myself.
No one wants to come. I dunno why I don't understand .
Oh my God.
But it's definitely for you if you're up for the challenge.
And if you love nature, you will have as much hiking as you want.
You'll get to explore amazing ice caves,
hike glaciers and fjords,
check out waterfalls and geysers and explore wide open spaces
and just really have an adventurous time.
It's also a great place to go for six months if you need to work on a
cognitively demanding project.
So if you need to write a book or if you're a student who needs somewhere to go
to write your thesis,
it's a great place to go where you won't have any distractions or interruptions.
It's also great if you're going to do some research,
if you are trying to launch a business or if you are trying to solve a specific
business problem with your team. On that note,
it's a really great place for a long-term remote work corporate retreat.
So if you are a startup or a company with a small team and you guys wanna go
live and work in the same place to work on a project,
this Iceland remote work visa would be a really cool way to do that.
It's also an excellent place for Van Lifers if you want to rent an
RV and just live out of the RV for six months and explore the country perfect
option, just make sure you bring your internet with you,
and it's also a good place if you have the urge to just get away from it all
and be alone with your thoughts. There is probably no better place than Iceland.
So who should not go to Iceland? Well,
it's probably not for you if you're looking for a place with a lot of people,
a lot of nightlife and a lot of things to do.
I think all of us over the past year have adjusted to life without being
surrounded by people. But if that's something you're craving,
then Iceland is not going to be the digital nomad destination for you.
There are very few people there,
and the people that are there are very spread out.
So if you're looking for a digital nomad hotspot or to plug into a really
thriving digital nomad community like Lisbon, Portugal,
or Chang May in Thailand or Ngu in Bali,
then Iceland is not for you. It's also not for you.
If you're looking for warm weather, I mean,
this country is called Iceland for a reason. It's freaking cold.
Iceland, it's freezing.
You've gotta be prepared for extreme weather.
This is no lounging around on the beach sort of place. If you want that,
maybe go to Playa del Carmen in Mexico, go to Hawaii. I don't know.
But don't go to Iceland if you're looking for warm weather.
I once got stranded in an area called Huel because
there were hurricane force winds and they had closed down all of the roads,
so we just got stranded there. But hey,
at least we had a hot spring to hang out in. Likewise,
you should probably also skip it if you need a lot of external stimulation and
you get bored easily, and especially if you're on a budget.
But of course,
if you don't reach that 7,500 to $10,000 threshold,
you won't be able to qualify for this remote work permit anyway.
But if you are on a budget,
not the best place for you either way.
If you do decide to apply for Iceland's work permit,
I recommend that you don't book all six months of your accommodation upfront.
That's one of the biggest mistakes new digital nomads make.
So maybe book the first week or the first month,
but give yourself some flexibility in case you decide that the lifestyle isn't
for you, or if you want to explore different areas,
which I also recommend because it is a rather large country with a lot
to see and do, and each corner of the country has a different landscape,
different vibe, and a different experience.
Last year I stayed at a small co-working and co-living space
called the Blue Bank in the West Fjords of Iceland,
and it was located in a town called Think Airy that is so small
that it doesn't even have a restaurant or a grocery store.
The population is only 326 people,
and it is about 45 minutes from the closest local airport and
town with actual amenities in it. And during the winter,
the towns can get completely cut off by ice and snow,
so it can even be more remote.
The Blue Bank is a great example of where you could live and work in
Iceland and what the lifestyle would be like there because you can work all day,
but still have a lifeline to a local community of other entrepreneurs,
remote workers, and small business owners. And actually,
a photo I took of myself working there has become my most downloaded
picture on Unsplash. So you can check that out.
But if you'd be interested in seeing a day in the life of living in Iceland
video, let me know in the comments,
give this video a thumbs up if you learned something,
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