Investment framework and opportunities in Iceland

Procedures Relative to Foreign Investment

Freedom of Establishment: The country is very open to investment, however there are some restrictions in the energy, fishing and air transport sectors.
Acquisition of Holdings: A majority holding interest in the capital of a local company is legal in Iceland.
Obligation to Declare: Establishing a business in Island is a rather quick procedure which includes applying for registration with Register of Enterprises, obtaining a VAT number and notifying tax authorities of employment of workers. Invest in Iceland website provides information about the authorizations required for setting up business.
There are some restrictions regarding the country of residency of the board of the company; to obtain more information, you may visit PwC guide to setting a business in Iceland.
Competent Organisation For the Declaration: Ministry of Finance
Directorate of Internal Revenue (to register an enterprise and to obtain a VAT number)
Requests For Specific Authorisations: As a general rule, there are no specific authorizations for investing in Iceland.
For further information, visit Invest in Iceland.

Investment Aid Agency: Invest in Iceland Agency
Tenders, Projects and Public Procurement: Tenders Info, Tenders in Iceland
DgMarket, Tenders Worldwide
Other Useful Resources: Icelandic Chamber of Commerce
Federation of Icelandic Industries
Directorate of Immigration
Central Bank of Iceland

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