Easily manage employment in Iceland
Iceland
Make employment in Iceland easy. Let us handle payroll, benefits, taxes, compliance, and even stock options for your team in Iceland, all in one easy-to-use platform.
Services available in this country:
Employer of Record ProductContractor Management
- Capital City
Reykjavík
- Currency
Icelandic krona (kr, ISK)
- Languages
Icelandic
- Population size
364,134
Services available in this country:
Employer of Record ProductContractor Management
Employment termination
Termination process
Employee contracts can be terminated at will if prior notice is provided. Employers are not required to provide any specific reason for terminating an employee.
Notice period
Both employers and employees are required to provide notice three months before resignation or termination unless otherwise specified in the employment contract.
Severance pay
There is no legally mandated severance pay, but unions can negotiate a mutual rate applicable to their members.
Probation periods
Probations periods are typically capped at three months into the new job.