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Register company in Iceland

August 28, 2023

[av_section min_height=” min_height_pc=’25’ min_height_px=’500px’ shadow=’no-border-styling’ bottom_border=’no-border-styling’ bottom_border_diagonal_color=’#333333′ bottom_border_diagonal_direction=” bottom_border_style=” padding=’default’ custom_margin=’0px’ custom_margin_sync=’true’ av-desktop-custom_margin=” av-desktop-custom_margin_sync=’true’ av-medium-custom_margin=” av-medium-custom_margin_sync=’true’ av-small-custom_margin=” av-small-custom_margin_sync=’true’ av-mini-custom_margin=” av-mini-custom_margin_sync=’true’ svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_opacity=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_opacity=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” color=’main_color’ background=’bg_color’ custom_bg=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=’https://www.fionzaglobal.com/wp-content/uploads/2023/08/atlantis-resort-bahamas-1470×600-1-300×122.jpg’ attachment=’2070′ attachment_size=’medium’ attach=’scroll’ position=’top center’ repeat=’stretch’ video=” video_ratio=’16:9′ overlay_enable=’aviaTBoverlay_enable’ overlay_opacity=’0.5′ overlay_color=’#000000′ overlay_pattern=” overlay_custom_pattern=” custom_arrow_bg=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” css_position_z_index=” av-desktop-css_position_z_index=” av-medium-css_position_z_index=” av-small-css_position_z_index=” av-mini-css_position_z_index=” id=” custom_class=” template_class=” aria_label=” av_element_hidden_in_editor=’0′ av_uid=’av-u9yqcx’ sc_version=’1.0′]

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[av_heading heading=’Register company in Iceland’ tag=’h1′ style=’blockquote modern-quote’ subheading_active=’subheading_below’ show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#ffffff’ subheading_color=’#ffffff’ seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutaxxq’ sc_version=’1.0′ admin_preview_bg=”]
“Fionza Consultants offers comprehensive company registration services in Iceland for international clients. Our service package encompasses company registration, the appointment of a company secretary, provision of a local registered address, and facilitation of the corporate bank account opening process. Fionza Consultants serves as your all-in-one solution to initiate your business in Iceland in full compliance with legal requirements.”
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Company Registration – 4 Week
Local Director? – No
Bank Account Opening – 4 Weeks
Travel Required – No
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[av_heading heading=’Register Company in Iceland’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutbk71′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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“Unlock a Smooth Company Registration Process in Iceland with Fionza Consultants. Iceland’s reputation for a business-friendly climate, featuring low corporate taxes, competitive land and renewable energy costs, and efficient European legal frameworks, has lured many investors. Registering a company in Iceland can be a hassle-free experience when equipped with the right knowledge. Trust Fionza Consultants as your guide, freeing your time and resources for more crucial business pursuits.

Our streamlined approach guarantees a seamless journey through Iceland’s business formation process. Our top priority is ensuring your Icelandic company is fully operational within the set timeframe.

Our all-inclusive service package covers vital elements for conducting business in Iceland:

Company registration with the Icelandic Companies Registry
Nominee director services
Local company secretary and registered address
Local or international corporate bank account opening
Annual filing and tax services.

Partner with Fionza Consultants for a Stress-Free Path to Establishing Your Presence in Iceland.”
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[av_heading heading=’How long does it take to register company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutge6e’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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“At Fionza Consultants, our global team of experts ensures a swift 3-week company registration process. Upon receiving the required due diligence documents from directors and shareholders, we promptly check the availability of your preferred company name.

Throughout the entire company registration procedure, you won’t need to travel to Iceland, where you plan to launch your business. If the chosen bank for corporate bank account opening necessitates an in-person meeting, we will work to arrange a virtual meeting instead. Be assured that we will have a representative by your side during this process.

Once Fionza Consultants successfully registers your company, you’ll receive essential documents, including the certificate of incorporation, memorandum and articles of association, as well as the register of directors and shareholders.

Within 4 weeks of company registration, Fionza Consultants will initiate the opening of a corporate bank account at a reputable local or international bank. As a result, you can expect to commence operations and issue invoices using your Iceland-based company within just 7 weeks from your engagement with Fionza Consultants.”
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[/av_one_full][av_one_full first min_height=” vertical_alignment=’av-align-top’ space=” row_boxshadow=” row_boxshadow_width=’10’ row_boxshadow_color=” custom_margin=” margin=’0px’ av-desktop-margin=” av-medium-margin=” av-small-margin=” av-mini-margin=” mobile_breaking=” mobile_column_order=” border=” border_style=’solid’ border_color=” radius=” min_col_height=” padding=” av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” svg_div_top=” svg_div_top_color=’#333333′ svg_div_top_width=’100′ svg_div_top_height=’50’ svg_div_top_max_height=’none’ svg_div_top_flip=” svg_div_top_invert=” svg_div_top_front=” svg_div_top_opacity=” svg_div_top_preview=” svg_div_bottom=” svg_div_bottom_color=’#333333′ svg_div_bottom_width=’100′ svg_div_bottom_height=’50’ svg_div_bottom_max_height=’none’ svg_div_bottom_flip=” svg_div_bottom_invert=” svg_div_bottom_front=” svg_div_bottom_opacity=” svg_div_bottom_preview=” fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” column_boxshadow=” column_boxshadow_width=’10’ column_boxshadow_color=” background=’bg_color’ background_color=” background_gradient_direction=’vertical’ background_gradient_color1=’#000000′ background_gradient_color2=’#ffffff’ background_gradient_color3=” src=” background_position=’top left’ background_repeat=’no-repeat’ highlight=” highlight_size=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” animation=” animation_duration=” animation_custom_bg_color=” animation_z_index_curtain=’100′ parallax_parallax=” parallax_parallax_speed=” av-desktop-parallax_parallax=” av-desktop-parallax_parallax_speed=” av-medium-parallax_parallax=” av-medium-parallax_parallax_speed=” av-small-parallax_parallax=” av-small-parallax_parallax_speed=” av-mini-parallax_parallax=” av-mini-parallax_parallax_speed=” fold_timer=” z_index_fold=” css_position=” css_position_location=” css_position_z_index=” av-desktop-css_position=” av-desktop-css_position_location=” av-desktop-css_position_z_index=” av-medium-css_position=” av-medium-css_position_location=” av-medium-css_position_z_index=” av-small-css_position=” av-small-css_position_location=” av-small-css_position_z_index=” av-mini-css_position=” av-mini-css_position_location=” av-mini-css_position_z_index=” link=” linktarget=” link_hover=” title_attr=” alt_attr=” mobile_display=” mobile_col_pos=’0′ id=” custom_class=” template_class=” aria_label=” av_uid=’av-hrit7l’ sc_version=’1.0′]

[av_heading heading=’What are the benefits of registering a company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutkvdb’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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“Strategic Location: Iceland’s Ideal Position for Business Growth Iceland’s strategic location bridges Europe and North America, with Keflavik Airport near Reykjavik serving as the primary international gateway. With over 140 daily departures in the summer and 80 in the winter, Iceland provides easy access to destinations worldwide.

Favorable Business Environment and Opportunities: Iceland’s business appeal rests on its welcoming climate, featuring low corporate taxes, cost-effective land and renewable energy, and efficiency within the European legal framework. Moreover, government initiatives promoting entrepreneurship, resource allocation, and understanding of supply and demand stimulate innovative solutions, fostering productivity, long-term results, and job creation in various sectors.

Thriving Innovation: Iceland boasts a flourishing startup and innovation scene, particularly in IT, biotech (including pharmaceuticals and wellness), gaming, and aquaculture. The comprehensive IT sector encompasses all aspects of the digital economy.

Low Corporate Tax in the European Union (EU): Iceland’s government imposes a competitive 20% corporate income tax rate, averaging 23.36% from 1993 to 2017, ranking among the lowest in Europe and the OECD member countries.

1st in the Global Peace Index: Iceland has consistently secured the top spot as the most peaceful country globally for four consecutive years, starting in 2015. This ranking evaluates factors such as violent conflicts, crime rates, press freedom, willingness to engage in wars, and political integrity.”
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[av_heading heading=’Can a foreigner register company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutmsw7′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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Certainly, whether you’re a local or foreign investor, registering a company in Iceland is an accessible process, provided you meet some essential criteria. The fundamental prerequisites include having a resident director, a shareholder of any nationality, and a registered business address.

For detailed and tailored guidance on the registration process in specific states, we encourage you to collaborate with Fionza Consultants. Our experts will thoroughly grasp your business needs before suggesting the most optimal business entity. Contact us today for comprehensive information and expert assistance with your company registration in Iceland.
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[av_heading heading=’Types of business entities available to register company in Iceland’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutnnnc’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

[av_textblock fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” id=” custom_class=” template_class=” av_uid=’av-llutoelb’ sc_version=’1.0′ admin_preview_bg=”]
Before proceeding with the registration of a company in Iceland, it’s crucial to have a clear understanding of the various business structures available. Fionza Consultants will work closely with you to comprehensively assess your business needs and recommend the most suitable business entity in Iceland.

The choice of business structure significantly impacts various aspects, including daily operations, taxation, personal asset protection, and more. Selecting the right business structure is essential to strike the right balance between legal safeguards and benefits. Your chosen structure will affect tax liabilities, fundraising capabilities, administrative requirements, and personal liability.

1. Sole Proprietorship or Individual Company:

A sole proprietorship is a business operated by a single individual. It offers simplicity and independence to the owner. However, the owner assumes direct and unlimited liability, making it less suitable for large businesses with substantial risks.

2. Limited Liability Company (Private Limited Company – Einkahlutafélög (ehf.)):

A private limited company is a common choice for foreign investors in Iceland. Directors are not personally liable for the company’s debts beyond a specified amount of liability insurance. Requirements include at least one member and manager, with specific residency criteria. Establishing an LLC in Iceland offers advantages such as low startup costs and enhanced privacy protection.

3. Public Limited Company (Hlutafélög (hf.)):

This business form is used by larger companies seeking capital from multiple investors. Requirements are similar to private limited companies but stricter in some aspects. A Public Limited Company must have at least two shareholders and a board of directors with specific residency requirements.

4. Partnerships (Sameignarfélög (sf.)):

Partnership companies require at least two partners, who can be individuals or legal entities. All partners have direct and unlimited liability for the company’s obligations. Initial costs are low, and the legal framework is relatively simple.

5. Fellowships:

This business form combines aspects of partnerships and private limited companies, with at least one owner assuming unlimited liability. It has gained popularity due to favorable dividend taxation and fund distribution regulations.

6. Private Foundations:

Private foundations are established with specific commitments and serve unique purposes, often associated with nonprofit organizations or charities.

7. Branch:

Foreign companies can establish branches in Iceland, subject to the same conditions as local companies. Branches can engage in the same activities as the parent company but require registration and a resident manager.

8. Representative Office:

Representative offices are non-commercial entities primarily engaged in promotional activities.

Choosing the right business structure in Iceland is a critical decision, and Fionza Consultants can provide tailored guidance to ensure your business aligns with your goals and complies with local regulations. Contact us for comprehensive assistance with your Iceland business registration needs.
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[av_heading heading=’How to register a company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutor32′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

[av_textblock fold_type=” fold_height=” fold_more=’Read more’ fold_less=’Read less’ fold_text_style=” fold_btn_align=” textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” fold_overlay_color=” fold_text_color=” fold_btn_color=’theme-color’ fold_btn_bg_color=” fold_btn_font_color=” size-btn-text=” av-desktop-font-size-btn-text=” av-medium-font-size-btn-text=” av-small-font-size-btn-text=” av-mini-font-size-btn-text=” fold_timer=” z_index_fold=” id=” custom_class=” template_class=” av_uid=’av-llutql96′ sc_version=’1.0′ admin_preview_bg=”]
To register your business in Iceland successfully, it’s essential to follow a series of steps. Here’s a streamlined and SEO-friendly version of the process:

Step 1: Choose the Right Business Structure Iceland offers several business structures, including Sole Trader, Partnership, Private Limited Company, Public Limited Company, Branch Office, and Representative Office. Fionza Consultants will recommend the best-fit legal entity based on your business goals and activities.

Step 2: Fulfill Registration Requirements Depending on your chosen structure, you must meet specific pre-registration requirements, such as having a local resident director and shareholder, and a registered local office address. You’ll also need to prepare essential documents like Articles of Incorporation, Business Plan, Company Constitution, and personal information of directors and shareholders. Fionza Consultants can assist with these requirements, including providing nominee director and nominee shareholder services.

Step 3: Reserve Your Company Name Before proceeding, reserve your company name with the Register of Enterprises under the Iceland Directorate of Revenue. Fionza Consultants will help you check name availability and secure the name with Icelandic authorities.

Step 4: Prepare and Submit Documents Once your company name is reserved, Fionza Consultants will prepare the necessary corporate documents, including forms and articles of incorporation. Your company will then be registered with the Icelandic Companies Registry. After successful registration, you’ll receive a Certificate of Incorporation and a certified copy of the company’s Articles of Organization.

Step 5: Open a Corporate Bank Account Simultaneously with company registration, open a corporate bank account to deposit the minimum capital. Fionza Consultants will streamline this process and assist in opening an account with a reputable bank, either in person or through negotiations with the bank. Once the account is open, you’ll receive internet banking access codes.

Step 6: Apply for a Business License Certain businesses, like manufacturing, require a business license to operate in Iceland. Fionza Consultants will guide your company through the application process to maintain legal compliance.

Step 7: Register for Taxes When establishing your business in Iceland, apply for a VAT ID number with Iceland Revenue and Customs (Directorate of Internal Revenue). Fionza Consultants’ chartered accountants will handle your entity’s tax registration and ongoing tax and accounting obligations, ensuring your business remains compliant with government policies.

Count on Fionza Consultants to provide timely assistance with tax returns, financial statements, and other regulatory requirements to keep your business in good legal standing.
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[av_heading heading=’What are the documents required to register company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutrjyf’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

Company Name: Your chosen company name must be unique and registered.
Registered Address: The official address of your company in Iceland.
Articles of Association: These documents outline the company’s structure, rules, and regulations.
Director Details: Identification and information about managing directors, supervisory directors, and any proxy holders involved.
Company Description: A brief description of your company’s purpose and activities.
Board Meeting Minutes: Documentation of the company’s decision to incorporate in Iceland.
Board Resolution for Bank Account: A formal resolution from the board authorizing the opening of a corporate bank account.

These documents are crucial for the successful registration of your company in Iceland, ensuring legal compliance and a smooth incorporation process.
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Incorporating your business involves crucial accounting and tax considerations, and entrusting these responsibilities to Fionza Consultants ensures you benefit from our expertise. Our dedicated team guarantees the timely completion of financial statements, corporate tax returns, and audits, all without requiring your physical presence.

Outsourcing your accounting and tax needs to Fionza Consultants not only ensures punctual reporting and filings but also helps you cut down on overhead costs. Prior to starting our engagement, our accounting experts will keep you well-informed about all mandated deadlines and expectations. Subsequently, we meticulously prepare the necessary filings well in advance, ensuring strict compliance with stipulated deadlines.

Annual Reporting and Tax Requirements

Corporate income tax returns need to be submitted by May 31 each year, regardless of your company’s chosen tax year. Iceland enforces controlled foreign company and transfer pricing rules, including country reporting requirements, all of which our global team of experts can assist your company with.

Iceland allows corporations to carry forward net operating losses for up to 10 years, offering a significant advantage. Additionally, tax incentives are available for Research and Development companies.

Corporate Tax

Companies in Iceland are subject to a 20% income tax on their annual profits. Non-resident companies are taxed solely on income generated within Iceland, while resident companies are taxed on worldwide income. Resident Iceland companies may apply for an exemption from corporate income tax if Iceland has a Double Tax Agreement with the owner’s country of residence.

Companies with net operating losses can carry them forward for up to a decade, providing flexibility in managing tax liabilities.

VAT

In Iceland, the standard VAT rate for goods is 24%, and VAT returns must be filed on a bi-monthly basis. Exported goods are fully exempt from VAT, offering potential cost savings.

Withholding Tax

Withholding taxes are applied at a flat rate of 20% on dividends, interests, and royalties, ensuring clarity in tax obligations.

Other Tax Considerations

Capital gains from non-business property and the sale of shares are taxed as investment income, with rates ranging from 22.9% to 31.8%. Social security contributions are levied at 7.6% on all employee wages, and personal taxation varies between 37% and 46%.

Partnering with Fionza Consultants allows you to efficiently navigate these complex tax and accounting requirements, ensuring your business remains fully compliant with Icelandic regulations while optimizing your financial performance.
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[av_heading heading=’Why register company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-lluttgkv’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

Political Stability: Iceland boasts a pro-business government that fosters a fair and competitive environment for market-driven businesses. It actively encourages international investments and offers substantial regional incentives for new direct investment projects. Moreover, Iceland’s transparent and corruption-free governance ensures a trustworthy business climate.

Tax Benefits: Iceland offers low corporate taxes, making it an attractive destination for companies aiming to maximize profits. Additionally, various incentive programs, including those from the EU, promote small and medium-sized enterprises (SMEs), research and development (R&D), and environmental conservation. Special tax breaks for foreign businesses and workers are available, setting Iceland apart from many other nations.

Ease of Doing Business: Iceland’s compact society ensures easy access to authorities, simplifying the process of doing business. According to the World Bank’s 2019 report on business ease, Iceland ranks 14th out of 144 countries, indicating a favorable business environment with minimal bureaucratic hurdles.

Economic Strength: As a member of the European Free Trade Association (EFTA), Iceland enjoys free trade and economic integration, contributing to its robust economy. Key factors behind Iceland’s economic success include a solid institutional framework, a skilled workforce, economic freedom, democracy, and low corruption levels. Notably, the country’s thriving fishing and tourism sectors provide substantial revenue and job opportunities.

Green Energy Advantage: Iceland’s strategic location between North America and Europe ensures convenient transportation links. The nation possesses ample renewable energy resources, resulting in affordable green energy options for businesses. Long-term energy contracts further reduce costs and promote environmental sustainability.

Educated Workforce: Iceland’s workforce is highly educated and experienced, particularly in knowledge-intensive sectors. The country’s emphasis on technological innovation and its educated, multilingual population make it an ideal choice for businesses in need of skilled talent.

Technological Infrastructure: Iceland excels in infrastructure and information technology communications. With extensive connectivity and advanced communication technology, it ranks high among countries leveraging technology for business productivity.

Investing in a business in Iceland offers a unique blend of political stability, tax benefits, ease of doing business, economic strength, green energy opportunities, an educated workforce, and cutting-edge technology infrastructure. These factors make Iceland a top choice for international businesses seeking growth and success.
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[av_heading heading=’Looking to register a company in Iceland?’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-llutuerj’ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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For investors looking to establish a company in Iceland, the process of registration, obtaining a business license, and navigating the complexities of starting a business can be overwhelming. That’s where Fionza Consultants comes in – a trusted and experienced business consultancy firm with a strong track record in assisting companies in their Icelandic ventures.

Fionza Consultants is renowned as a top company incorporation agency, known for delivering high-quality services efficiently. Our mission is to ensure your company’s successful launch in Iceland while freeing up your valuable time to focus on other critical aspects of your business. We bridge Iceland with the global business landscape, simplifying and expediting the often time-consuming process of establishing a corporation in Iceland.

Contact us today to learn more about how to register a company in Iceland, and our team of expert consultants will promptly respond to your inquiry within the next 24 hours. Partner with Fionza Consultants to make your Icelandic business journey smoother and more successful.
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[av_heading heading=’FAQ’ tag=’h2′ style=’blockquote modern-quote’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=’custom-color-heading’ custom_font=’#6ea4ca’ subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” title_attr=” id=” custom_class=” template_class=” av_uid=’av-8n1r5′ sc_version=’1.0′ admin_preview_bg=”][/av_heading]

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[av_toggle title=’Why should I invest in Iceland?’ tags=” custom_id=” av_uid=’av-llutvrp2′ sc_version=’1.0′]

Iceland offers numerous advantages for foreign investors which include its straightforward process of setting up a company, its consistent growth in terms of economic and social growth offering its dynamic environment to set up along with its highly skilled workforce.

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The most common entities set up in Iceland are a private limited company (limited liability company), a joint-stock corporation (public limited company), a branch office, and a representative office for foreign investors.

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Yes, a foreigner along with at least one resident director/manager can own a business in Iceland.

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The requirements for establishing an LLC in Iceland are capital of at least ISK 500,000, at least 1 resident shareholder, at least 1 resident director (local representative agent), a corporate bank account, and a registered local address.

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To proceed with company registration in Iceland, for a start, you are required to provide the notarized passport copy, proof of address, CV, and proof of income of the individual director and shareholder of the Icelandic company to be formed along with the Board of directors’ member’s notarized statement of consent to serve as a member; Statement explaining the planned business activities; and any other documents as requested by the Registrar at a later stage of incorporation.

Once Fionza Consultants receives the above, we will review the documents and provide you with an updated due diligence checklist with the list of outstanding documents.

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Fionza Consultants will incorporate a company in Iceland within 3 weeks.

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Depending on the services you require from Fionza Consultants, the total engagement fee will differ. Our services include planning and strategizing with your company, assisting you in the incorporation process, ensuring that you are compliant, and more. This total fee includes the registration fee charged by the Icelandic government.

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[av_toggle title=’What is the tax implication for a business setup in Iceland?’ tags=” custom_id=” av_uid=’av-lluu0d9z’ sc_version=’1.0′]

Businesses in Iceland are subjected to a corporate income tax rate of 20% which is the lowest in EU nations.

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Register company in Iceland

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