Yes, proof of sufficient funds is a mandatory requirement for an Iceland Tourist Visa. You must demonstrate that you have adequate financial resources to cover all expenses during your stay, including accommodation, food, transportation, and other costs. Accepted documents include recent bank statements for the last six months, salary slips, income tax returns, and a sponsorship letter if your trip is being funded by someone else. The amount required may vary depending on the duration of your stay and the current guidelines set by the Icelandic visa authority.