Iceland flag Iceland: Operating a Business in Iceland

Starting a business in Iceland

Legal Forms of Companies

Einkahlutafelag is a Private Limited Company.
Number of partners: No minimum
Capital (max/min): ISK 500,000.
Shareholders and liability: Liability is limited to the amount contributed
Hlutafelag is a Public Limited company.
Number of partners: At least two founders, a minimum of two shareholders, at least one manager and no less than three persons on the board of directors
Capital (max/min): ISK 4 million
Shareholders and liability: Liability is limited to the amount contributed
Partnership
Number of partners: Minimum two
Capital (max/min): No minumum capital required
Shareholders and liability: Unlimited
Co-operative Societies
Number of partners: Minimum of fifteen founders
Capital (max/min): No minumum capital required
Shareholders and liability: limited to the payment of a membership fee and the share of ownership of the society's funds
The Competent Organisation
The competent organization is the Company Registration.
 
Setting Up a Company Iceland OECD
Procedures (number) 5.0 5.2
Time (days) 11.5 9.5

Source: Doing Business, 2016

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Iceland.
Statistics Iceland

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Latest Update: July 2022

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