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Investing in Iceland
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The material here is
based on a much more
detailed investors guide
for Iceland, maintained by Invest in Iceland Agency
Investing in Iceland
Iceland's operating environment is competitive with leading countries in the industrial world. With its low tax structure, high education levels and competitive costs for skilled labour, land and electricity Iceland is a strong candidate for businesses to short-list.
Foreign investors in Iceland have a choice of operating forms for their business: public or private limited companies, branches, wholly owned subsidiaries, partnerships, etc. A completed application to establish a company is generally handled in one day.
Foreign investors have located new plants in Iceland as well as buying into established ventures. Power-intensive industrial production, mainly focusing on metals, has led the foreign investment field to date, but growing numbers of investors are taking stakes in dynamic high-tech enterprises or making strategic purchases in production and services related to their own international activities.
Iceland is a member of EFTA and a member of the 28-nation European Economic Area (all EU states and three of the four EFTA states), an agreement with the European Union that gives Iceland access to the EU free trade market. Iceland therefore implements the same basic liberal business philosophy as the EU, and except in few limited areas; all EU commercial legislation and directives take affect in Iceland.