Iceland

Iceland is the second biggest island in Europe. Their main industries are fishing, export of wool, foreign investments in energy and of course a tourism.

Corporate tax VAT
20% 22.5%

Limited liability company

einkahlutafélag- Ehf

Minimum Share capital

ISK 500 000 (approx. 3550 EUR)

Registered office required

Yes

Physical office required

No

Min. number of Shareholders

1

Min. number of Directors

1

Local directors required

At least 1 has to be resident of Iceland.

Other requirements

Special licences may be necessary for the business operations

Bank signatory must travel

Yes

Timescale for company formation

4 weeks

Timescale for bank account opening

14 days

Timescale for obtaining VAT number

2 weeks

Statutory audit requirements

Yes

Shelf companies available

No

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