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Every foreign founder or director must secure an Icelandic ID number (Kennitala) before forming a company. The Private Limited Company (Einkahlutafélag or ehf.) is the most practical and common business...
Strict Role Separation: Icelandic corporate law distinctly separates the strategic oversight of the Board of Directors from the day-to-day operational control of the Managing Director. Mandatory AGM Filings: Companies must...
Corporate insolvency in Iceland is primarily governed by the Act on Bankruptcy etc., No. 21/1991, which outlines both liquidation and restructuring paths. A company must prove objective insolvency, meaning it...
Explainer: Mergers and Acquisitions Regulations in Iceland Mandatory thresholds: Transactions require regulatory clearance if the combined turnover of the merging entities in Iceland exceeds 3 billion ISK and at least...
Explainer: Antitrust Regulations and Joint Ventures in Iceland The Icelandic Competition Authority treats "full-function" joint ventures as mergers, requiring mandatory notification if specific turnover thresholds are met. Joint venture reviews...
Iceland aligns its export control and sanctions framework directly with the European Union and the United Nations, enforcing strict rules on dual-use goods and targeted international trade restrictions. Securing an...
Strict forced heirship: Icelandic law reserves two-thirds of your estate for your spouse and children. You can only distribute the remaining one-third through a will. Habitual residency: If you permanently...
Explainer: Personal Injury Claims and Consumer Rights in Iceland Strict Compensation Formulas: Icelandic law does not award punitive damages; compensation is strictly calculated based on actual financial loss and standardized...
Key Takeaways Foreign investors looking to acquire a business in Iceland must navigate specific regulatory thresholds, sector restrictions, and a unique corporate landscape. Preparing for these local requirements ensures a...
Key Takeaways The process of drafting commercial agreements in Iceland requires navigating local statutory law while aligning with European Economic Area (EEA) standards. Foreign entities must prioritize clear jurisdictional terms...