Grímsey is a small island in the country of Iceland. Grímsey is the northernmost inhabited Icelandic territory; the islet of Kolbeinsey lies further north, but is uninhabited. The closest land is the island of Flatey, Skjálfandi, 39.4 kilometres (24.5 mi) to the south. The Arctic Circle runs through the island, while the entirety of mainland Iceland lies south of the Arctic Circle. It is located on 66°33′N 18°00′W .