registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
3400.00 EUR 1390.00 EUR 3 18.00% 4000000.00 Yes

Company registration in Iceland

Scandinavian Republic of Iceland is located in the territory covering 103,000 m2 in Northern Europe. Eponymous island is the second in Europe due to its size. Iceland has points of contact with the Arctic Circle. The population is about 317 thousand people.

The administrative center, where one third of the country's population resides, is Reykjavik. Icelandic has the status of the state language.

Cold maritime climate of the country is slightly softened a bit by the impact of the North Atlantic Drift .

Iceland's economy is characterized by average development rate. It is based on fisheries, foreign investment in energy-consuming industries. Tourism is also developing here. Important export products are products made of wool. The largest quantities of imports are associated with oil procurements.

The currency is Icelandic krona (ISK).

If you decided to register company in Iceland, the following information will be useful for you.

Forms of doing business in Iceland

The most popular is registration of the company in Iceland in the following forms:

  • private limited company – Ehf;
  • joint stock company with limited liability – Hf.

The legislative framework in Iceland.

In Iceland, the Laws "On Companies" and "On ITC companies" regulate the activities of companies.

ITC is international trading company that can conduct activity in the forms of LLC and JSC. Company receives the status of ITC by obtaining special license.

Permitted types of activities are the following:

  • Intermediary services (non-resident companies participate), provision of services, trade;
  • Holding activities;
  • Disposition of marine and air vessels (for lease, sublease, possession, management), vehicles operated under the flags of other countries;

Sales of fish, seafood, and agricultural products of Icelandic origin are prohibited.

Features of company in Iceland:

  • For obtaining ITC status from 3 to 4 weeks are required.
  • You can not use the names of already existing companies or identical ones. Ending of the company name shall contain the abbreviation ITC, regardless of its organizational and legal form.
  • Company registration takes place in Iceland subject to the submission of the following documents:

- Charter;
- Memorandum of association;
- Minutes of the first (constituent) meeting of shareholders.

  • The address for receiving official correspondence sent by the public authorities to the company in Iceland is provided by incorporation agent. Address shall be all the time in the territory of jurisdiction.
  • Minimum authorized capital requirement for ITC is approximately € 7000.
  • Issuing registered shares with nominal value is only allowed.
  • Minimum number of shareholders is one. There are no requirements concerning status and country of residence.
  • Minimum number of directors is also one. There are no requirements concerning his status, but there is a feature in relation to the country of residence, namely: one of the directors shall be a citizen of Iceland or state member of the international organization OECD, which includes 30 states.
  • Meetings of Shareholders shall be held annually, anywhere in the world, and there is possibility of their organizing over the phone. Minutes of the meetings are stored in place of actual registration of the office.
  • Meetings of the Board of Directors of joint-stock companies shall be held only in Iceland.
  • Confidentiality of information about shareholders, directors, first founders, and official address of the company's office is not ensured.
  • Confidentiality of data on banking operations of the company is ensured. Selection of Bank and number of accounts are not limited.

Taxes in Iceland

  • For ITC company:

- income tax – 5%;

- tax on total capital – 0%;

- stamp duty – 0%;

- license fee (annual) – ISK 100 000.

  • For private entrepreneur:

- income tax – 38,58%.

  • For partnership:

- income tax – 26%.

  • For companies and branches:

- income tax – 18%;

- tax on shareholders’ profits – 10%.

If you need to register a company in Iceland, we are ready to provide comprehensive professional assistance for you. It is now simple and easy to buy company in Iceland.

Registration of companies, offshore companies in different countries of the world is one of the main directions of our activity.

Set of documents
  • Ask our manager
Nominee director and shareholder
  • Ask our manager

General information
Square103 000.00
Population313 183.00
State polityconstitutional republic
Telephone code354
Place in the world in corruption13
locationNorthern Europe, island between the Greenland Sea and the North Atlantic Ocean, northwest of the United Kingdom
ClimateTemperate; moderated by North Atlantic Current; mild, windy winters; damp, cool summers; avg. maximum temperature (July) +12°; avg. minimum temperature (January) -1°
Literacy rate99.00%
Ethnic groupsHomogeneous mixture of descendants of Norse and Celts 94%, population of foreign origin 6%
National currencyIcelandic krona
USD exchange rate125.69
GDP per capita27
Official languageIcelandic, English, Nordic languages, German widely spoken
Credit ratingBBB-
The judiciaryThe Supreme Court, eight district courts
Executive authorityHead of government: Prime Minister. Government: Cabinet of Ministers appointed by the prime minister
Legislative authoritiesunicameral parliament - the Althing (63 seats)
Corporate information
Opportunity to purchase ready-made companiesНет
Legal systemCivil Law
The use of the Cyrillic alphabet in the nameНет
Local registered officeДа
Organizational and Legal FormsPrivate and Public Limited Company, International Trading Company (ITC)
Indication of BPA in the nameEinkahlutafelag (Ehf), private limited company. Hlutafelag (Hf) public limited company, Alþjóðlegt viðskiptafélag или ITC (av.)
Local registered agentДа
Shares and share capital
Information about the beneficiary is disclosed4000000
The minimum amount of paid-in capital, nat. currency4000000
The minimum amount of the issued capital4000000
Bearer sharesНет
Terms of payment of the issued capitalWhen registering
Terms of capital paymentWhen registering
Possibility to issue shares without par valueНет
Basic corporate tax rate18.00%
Capital gains taxНет
Currency controlНет
Corporate tax rates details18% for limited companies and 5% for ITC companies
Stamp dutyНет
Director and Secretary
Minimum number of directors3
The requirement for residency directorsНет
Director of legal entities are allowedНет
The data reveals to the local agentДа
Data field to the public registryДа
The requirement for the presence of the SecretaryНет
Requirement to the residense of the SecretaryНет
Requirements to qualification of the SecretaryНет
Legal entity as the SecretaryНет
Shareholder and beneficiary
Minimum number of shareholders2
Data is entered in the public registerДа
Shareholders residency requirementДа
Information about the beneficiary is disclosedНет
Information may be disclosed to the local agentДа
Shareholders-legal entities are acceptableДа
The requirement for filing reportsДа
Open access to reportsНет
Statutory auditНет
The requirement for filing Annual ReturnНет
Open access to the Annual ReturnНет
The requirement for reportsДа
Treaty on avoidance of double taxation (States which signed)25
Membership in the OECDДа
Is it offshore according to Russian legislationДа
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
60.00 30.00 1130.00 130.00 0.00 0.00 1200.00 EUR 160.00 EUR
«TRADEMARK» refers to «Wordmark» or «Logo»

60.00 30.00 1220.00 130.00 0.00 0.00 1200.00 EUR 160.00 EUR
«TRADEMARK» refers to «Wordmark+ Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.