LimboEurope
Iceland
22%effective individual rate
22% capital income tax on crypto. Higher rates for income above ISK 11M. Iceland is popular for crypto mining due to cheap renewable energy.
FATCA Partner
Yes
FATF Status
Clear
EU Blacklist
No
Dual Nationality
Allowed
Bitizenship
Not yet
Tax Rates
Capital Gains Tax22%
Income Tax on Crypto22-31.8%
Corporate Tax20%
VAT on Crypto24%
Activity Taxes
Staking
22%
Mining
22%
DeFi
22%
NFTs
22%
Taxable Events
Crypto → Fiat
Taxable
Crypto → Crypto
Taxable
Holding Period
No holding period benefit
None
Regulation & Residency
Regulatory Body
FME Iceland
Residency Requirement
EEA free movement; various visas
Reporting Requirements
Annual tax return
Citizenship & Residency Path
Residency via employment; citizenship after 7 years
Notable Conditions
- →22% capital income rate
- →Cheap geothermal energy for mining
- →EEA member
- →Small but tech-savvy market
Living & Lifestyle
Cost of Living
Very High
Banking Access
Good
Quality of Life
Very High
Lifestyle Scores
Safety10/10
Healthcare9/10
Institutions9/10
Business Ease7/10
Int'l Schooling4/10
Privacy4/10