What is the status of labor rights for foreigners today?
The status of labor rights for foreign experts today is relatively decreasing due to changing global perspectives.
The process of residence and work permits is complexed and time-consuming.
Two agencies are responsible for the permits, but many other entities are involved in the application process that makes it difficult for applicants.
Iceland lags other countries in welcoming and assisting people to become full members of society. There are stringent restrictions placed on the granting of work permits and decisions in the system can be arbitrary and based on an unclear assessment of the labor market.
How do I attract expats?
The new Agreement on the Platform for the Coalition Government states a clear will to make it even easier for Icelandic companies to access the necessary foreign expertise, and to that end it will be easier for foreign experts to settle in Iceland
Some resources are already available:
Amendment to the Income Tax Act (90/2003) from 2016 (79/2016)
were made to support the financing and operation of startup companies and smaller companies in growth
One part of these changes is that If a specialist meets certain conditions, only 75% of their income is subject to income tax for three years from employment.
The Icelandic government has raised the bar when it comes to reimbursing research and development costs by raising both the percentage and the maximum costs that a company can be reimbursed.
80% of research and development costs are employees' salaries.
Start preparing early
It is important to understand the needs of the expat and his family early on. Preparations therefore begin before he arrives
Good preparation and correct information minimize the likelihood of an unfortunate experience and ensure that the expat attends a new job convinced that the decision to relocate was the right one
We help you meet his needs by holding an online meeting with all parties and introducing the process, time frame and what he can expect
This is the process
We apply for a residence and work permit, medical expenses insurance. If the expat meets certain conditions, we apply for a discount on his income tax base
We find suitable housing. We take care of applications and we advise on rental prices. We take care of all negotiations
The spouse needs a job? We help the spouse getting in touch with the right people, help with resumes, reviews and applications
Moving can be is costly and complicated. We provide advice on how best to handle transport and work closely with the expat in planning and implementation
The adjustment of the expat and his family is the key. We know the process well.