Here you can find useful information regarding Starting a Company in Iceland. All information has been sourced from the website island.is or mcc.is

Establishing a company

 

It is relatively simple to establish a company in Iceland. The legal form of the business must however be suitable for the company’s activities.

Anyone starting a business in Iceland must have an identification (ID) number (kennitala).

There are several different operational forms possible including these:

  • Sole proprietorship/firm.
  • Public limited company/publicly owned company/private limited company.
  • Co-operative society.
  • Partnership.
  • Self-governing corporate entitity.

Detailed information about starting a company can be found on island.is and on the website of the Government of Iceland.

Starting a business as a foreigner

 

People from the EEA / EFTA region can set up a business in Iceland.

Foreigners have customarily established a branch of a limited company in Iceland. It is also possible to establish an independent company (subsidiary) in Iceland or buy stocks in Icelandic companies. There are certain businesses that foreigners cannot get involved with, such as those engaged in fisheries and primary fish processing.

Icelandic company law is in line with the requirements of the company law provisions of the Agreement on the European Economic Area, and consequently EU company law.

Starting a business in Iceland – Practical guide