BridgeWest provides company formation services in Iceland. Our assistance includes:
> drafting the Articles of Association (necessary for the company incorporation in Iceland);
The Articles of Association of the Icelandic company can be signed through Power of Attorney (the same applies to Public Notary proceedings, a step required by Icelandic Law).
> drafting all other documents required for the incorporation of the Icelandic company;
These documents include: Specimen Signatures, Special Forms provided by the Company Registration Office in Iceland, passport copies etc.
> arranging Public Notary procedures (The procedures for incorporating a company in Iceland have to be done through an Icelandic Public Notary);
> offering a Registered Office in Iceland for your company (if required);
The registered office may be any address where the Icelandic company declares to have its headquarters. The registered office will be public.
> setting up a bank account for your Icelandic company.
This refers both to an initial share capital account needed when you open a company in Iceland, as well as a current bank account after the company is formed.
> recommending an accountant in Iceland;
Accountancy services are recommended for any new business registration in Iceland.
BridgeWest provides formation of the following types of companies in Iceland:
Icelandic Public Limited Liability Company – The company may be set up by two or more persons, or legal entities providing a minimum capital of 4 million ISK (25,000 EUR). This business entity must have at least two shareholders who provide a part of the capital, receiving shares with a nominal value and at least three members in the Board of Directors. The member's liability for the company's debts and obligations is limited to the amount invested in the company opened in Iceland. The Icelandic public limited liability company has the possibility of offering its shares publicly and enlisting on the stock market.
Icelandic Private Limited Liability Company – This company type differs from the public limited company in the sense that it cannot sell its shares to the public and full consent of other members is needed in case one shareholder whishes to back out from the business. Apart from this, the private limited liability companies are the most common form of business used in Iceland. They can be formed by one or more persons and the minimum requested capital is of 500.000 ISK (aproximately 3000 EUR). If the company has more than one shareholder, then board and shareholder meetings are required. The liability of the members of an Icelandic private limited liability companies relies in the amount invested by each of them in the company.
BridgeWest is also able to offer ready-made Icelandic companies and VAT registration.
Please contact us for more information regarding how to open a company in Iceland and prices.
Entrepreneurs wishing to engage in business in the state of Iceland find a good business environment, and friendly people. The business sectors provide good incentives for foreign investors, as the taxes are quite low. Even though Iceland is not a member of EU and does not use the euro curren ...
Foreign investment in Iceland is valuable and encouraged by the government. There are few restrictions, and foreign investors are treated equally, without any discrimination in favor of Icelandic entrepreneurs. Having an uprising economy, mostly due to a capable and instructed workforce, the state o ...
The state of Iceland encourages foreign investment, mostly by offering incentives for many business sectors. Therefore a number of foreign investors see a real possibility for economic success and decide to invest here. Non-resident investors can normally choose between a series of different legal s ...
1. What is the minimum share capital of an Icelandic Private Limited Liability Company? The Iceland Private Limited Liability Company is designated for small to medium-sized business being the most common form of business in Iceland. The minimum requested capital is 500.000 ISK. 2. Wha ...
1. What is the corporate tax in Iceland? The corporate tax in Iceland is differentiated according to the type of company. This way, the corporate tax rate for a limited liability company in Iceland is 20%, while the partnerships have to pay a 36% corporate tax rate. 2. What is the ...
1. What is the VAT in Iceland? VAT in Iceland is calculated at the standard rate of 25.5% for almost all types of assets and services. There is however a reduced VAT rate of 7% that applies in certain cases. Food, accommodation, books, newspapers, as well as hot water, electricity and domestic heati ...
Iceland is one of the preferred countries in terms of foreign investments for its economic advancement, technological innovation and social stability. It is also known as the country with the least corruption. Its political and economic stability as well as its competitiveness make Iceland a perfect ...
Whether it’s a public limited liability company or a private limited liability company, the Iceland legislation requires the appointment of an administrator at the registration of these types of legal entities. The name of this administrator can be replaced from the company’s offic ...
Call us now at +44 203 287 0408 to set up an appointment with our lawyers in Reykjavik, Iceland. Alternatively you can incorporate your company without traveling to Iceland.
As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Iceland.