How to open a company in Iceland

A presentation brought to You by BridgeWest.eu

Types of companies in Iceland

• Public Limited Liability

• Private Limited Liability

• General Partnerships

• Limited Partnerships

Public Limited Liability

• This company can be set up by at least two partners and more

• The minimum share capital for this company is 4 million ISK

• The partners who provide a part of the capital, will receive shares with a nominal value

• The partner's liability for the company's debts and obligations is limited to the amount invested in the company.

• The company can offer its shares to the public

Private Limited Liability

• This company can be set up by at least one person

• The minimum share capital requested is of 500.000 ISK

• The shareholder meetings are required if the company has more then one shareholder

• The liability of the members are limited to their amount invested in company

• The company can sell its shares to the public

General Partnerships

• The company can be established by at least two persons

• The partners are general in this type of company

• The partners are fully liable to company's debts and obligations risking their own personal assets.

• The company must be registered with the Trade Register to be considered a legal entity.

Limited Partnerships

• The company can be established by at least two members

• There are at least one general partner and one limited

• The company should be registered with the Trade Register to be considered a legal entity.

Steps for company formation in Iceland

• Providing a unique name for the company

• Providing a set of identification documents

• Drafting the registration documents

• Opening a bank account

• Submitting the company registration documents with the Register of Limited Companies.

Necessary documentation and information

• providing passport copies of the shareholders and directors

• setting-up a bank account for the injection of the share capital

• submitting the company registration file with the Register of Limited Companies

• Registering for VAT

Requirements for Company Formation in Iceland

• Any person of any nationality or residence can be a shareholder in a Icelandic company

• The company can have at least one director

• The company must hold a local registered office

Services Provided for Company Registration in Iceland

• drafting the Articles of Association

• offering a Registered Office in Iceland

• setting up a share capital bank account

• recommending an Islandic accountant

Thank you for your attention

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office@bridgewest.eu

www.bridgewest.eu/company-formation-Iceland

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