Start a Business in Iceland
Select the entity type that fits your scale, liability preference, and operational model.
ehf. (private limited company): Most common choice for foreign investors (like UK Ltd or German GmbH)
hf. (public limited company): Suitable for larger or publicly traded businesses
Discuss your requirements with a local legal advisor or the Invest in Iceland team before proceeding.
Iceland's unified digital government platform enables company registration, tax ID applications, and director appointments, all online and available in English.
The process is among the fastest and most streamlined in Europe. You will need to provide director details, a registered address, and your intended business activities.
A business account with an Icelandic bank is required to deposit share capital and begin operations. Account opening typically requires company registration documents and director identification.
Major banks include:
Sector-specific permits vary in complexity and processing time. Energy, food, healthcare, and financial services require additional approval from relevant regulatory authorities. The Business Iceland team can advise on the specific licenses relevant to your sector and connect you with the appropriate authorities.
With registration complete and accounts in place, you're ready to hire, contract, and trade. Business Iceland can facilitate introductions to local partners, suppliers, and service providers to help you get operational quickly.
Download and read
Doing business in Iceland
report