Registering a company in Iceland is a step-by-step process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Directorate of Internal Revenue. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in Iceland. Be sure to adhere to the requirements and guidelines to ensure a smooth registration process and a successful start for your company.
Step 1: Choose your company
type The first step in registering a company in Iceland is to choose the type of company you want to register. The most common types are:
- Private Limited Company (Ehf.)
- Public Limited Company (Hf.)
- Step 2: Choose a company name
Before registering your company, you'll need to choose a suitable name. The Directorate of Internal Revenue (Ríkisskattstjóri) has guidelines for acceptable names, which can be found at this link: https://www.rsk.is
Step 3: Prepare the required documents
Next, prepare the necessary documentation for your chosen company type. The key documents are:
- Articles of Association (for Ehf. and Hf.)
- Application for Company Registration (for all types)
These forms can be downloaded from the Directorate of Internal Revenue's website: https://www.rsk.is
Step 4: Identify company officers and shareholders
You will need to identify at least one director (for Ehf. and Hf.). Directors must be at least 18 years old. Shareholders can be individuals or corporate entities.
Step 5: Capital requirements
Iceland requires a minimum capital of ISK 500,000 for Ehf. and ISK 4,000,000 for Hf.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Directorate of Internal Revenue. This can be done in person at a local office or online via the following link: https://www.rsk.is
The fees for registering a company are as follows:
- Ehf.: ISK 105,000 (approximately $840)
- Hf.: ISK 105,000 (approximately $840)
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Directorate of Internal Revenue. This can be done online via the following link: https://www.rsk.is
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 2 to 4 weeks, depending on the complexity of your application.