Where should I setup a bank account in Egilsstadir?

We asked expats in Egilsstadir what banks they use and there advice about banking. They advised...

"Expats considering retirement in Egilsstadir should be aware of several key factors. Firstly, the cost of living in Iceland is relatively high, with groceries, dining out, and utilities being more expensive than in many other countries. The climate in Egilsstadir is subarctic, meaning it has short, cool summers and long, cold winters, which may not be suitable for everyone. The official language is Icelandic, and while English is widely spoken, learning some Icelandic can be beneficial for integrating into the community. Healthcare in Iceland is of a high standard, but it's important to understand the system and ensure you have adequate health insurance. The process of obtaining residency in Iceland can be complex and time-consuming, so it's advisable to start this process well in advance of your planned retirement. Iceland is known for its stunning natural beauty, and Egilsstadir is no exception, with opportunities for outdoor activities such as hiking, fishing, and bird watching. However, it's a small town with a population of just over 2,000 people, so it may not offer the same level of amenities or social activities as a larger city. Finally, it's important to understand the tax implications of retiring in Iceland, as the country has a progressive income tax system and also taxes pension income. It's advisable to consult with a financial advisor or tax professional before making the move," wrote a member who made the move to Egilsstadir, Iceland.

AGS Worldwide Movers
Get Quote

Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.

AGS Worldwide Movers