Company formation in Iceland

Name of service Bronze Silver Gold Platinum
Check and reserve of the company name Obtaining approval from the registrar for the company name
Company registration, including state fees Preparation of a full package of documents, depending on the chosen form of ownership, cooperation with the relevant authorities prior to obtaining information on company registration
Legal address for 1 year Provision of legal address for your company in a given jurisdiction, eliminating the need to purchase or rent real estate
Assistance in opening an account Collection, preparation and submission of the necessary documents for opening a corporate account
Nominal service for 1 year Registration of a company with nominal service and provision of nominees for 1 year. The price includes issuance of additional documents: power of attorney, trust documents and agreements
Total cost
3950 EUR 6350 EUR 7250 EUR On request
Accounting services
170 EUR 170 EUR 170 EUR 170 EUR
Annual renewal (paid from the second year)
1700 EUR 2400 EUR 2400 EUR On request

Deal of the month

If you will register a company until April 30,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

If you are looking for a well-developed jurisdiction that is very similar to an offshore due to certain advantages it offers, Iceland may become a good option for your choice. This country has an averagely-developed economy with an emphasis on fishery and tourism. It takes steps to encourage foreign investments and enables access to major European markets. So, many businessmen may find Iceland especially suitable for making investments.

Major Forms of Legal and Business Presence in Iceland

If you want to become present in Iceland, you may actually arrange that in one of the next forms:

  • Private Limited Company – one of the most popular types of business entities where the liability of its shareholders is restricted to the contributed amounts only. The minimum chartered capital for this entity constitutes ISK 500 000. There is no minimum number of shareholders for this entity. Certain restrictions for the transfer of the shares exist for this type of entity.
  • Public Limited Company – a commercial vehicle where the liability of shareholders is also restricted to the amounts of contributions made. But, shares, in this case, can be offered to the public. The minimum chartered capital for this type of entity shall be at least ISK 4 million. Minimum 2 shareholders are required to establish this commercial entity.
  • Branch – a type of commercial presence of foreign companies in Iceland that is subject to the same conditions as local companies. A branch can conduct the same types of activities as its foreign company. The registration and manager-resident are required in this case.
  • Representative office – a type of non-commercial presence in Iceland for promotional activities mostly.

Registration Requirements and Steps

Setting up a company in Iceland, a private limited company, for instance, may require passing these preliminary steps:

  1. Deifying your business priorities in Iceland and/or worldwide (you need to clarify the exact types of business activities you are going to conduct).
  2. Choosing and verifying a business name for a future entity.
  3. Collecting information about founders, beneficial owners, and management of a future company.
  4. Arranging the registered address for the future commercial vehicle in Iceland.
  5. Paying up the statutory capital.
  6. Drafting statutory documents for a corporate entity.
  7. Submitting the set of documents for the registration with the Register of Limited Companies operated by the Director of Internal Revenue.
  8. Registering for tax and social security purposes
  9. Opening a corporate bank account
  10. Getting additional licenses and permits (required for certain types of activities only).

Legal and Regulatory Framework

The local legal framework may be preliminarily assessed as very advantageous for doing business and making investments. There are no restrictions for investors in terms of establishing a company in Iceland.

The major legal acts regulating the procedure of establishing and operating an entity in Iceland are Act No. 2/1995 on Public Limited Companies and Act No. 138/1994 on Private Limited Companies. The Ministry of Finance and Economic Affairs and the Financial Supervisory Authority are major regulatory bodies for the purposes of doing business in Iceland.

Advantages of the Jurisdiction

If you intend to create a company in Iceland, this may beneficial in view of the next advantages the jurisdiction has:

  • Compliance with major European standards of doing business
  • Comparatively fast and non-costly procedure for the company incorporation
  • Encouragement of foreign investments

Tax System of Iceland

For an option of registering a company in Iceland, you may need to be aware of the next tax highlights of the jurisdiction:

  • Corporate income tax (CIT) rate – 20 %
  • Personal income tax rate – 31.8%, plus municipal taxes
  • Value-added tax rate – 24 %
  • Withholding tax rates (for non-residents) – (i) dividends – 20 % (ii) interests – 12 % (iii) royalties – 20 %
  • Capital gains tax rates – (i) corporate – equal to the standard CIT (ii) individual - 22%.

How Prifinance Specialists May Assist You

If you want to preliminarily evaluate the option of opening a company in Iceland, financial specialists may be able to help you assess all the advantages of this jurisdiction that could be available to your business. We can also assist you with the preparation of all required documents and complete the registration process. Our specialists are ready to open a corporate bank account in Iceland or elsewhere and support the further commercial activities of your entity in this country. Reach out to us shortly for more precise discussions and suggestions.


Our clients

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10:31 20 Mar 24
Collaborated with the company for 3 years. I can’t say that everything was smooth from the point of view of organizing the work; there was confusion in the structure of the work, etc. But I’ll specifically highlight employee Lyubov Malinowski, she very diligently corrected all errors and was in touch at the right time, her help was significant in all processes and she approached all issues precisely. I would like to separately highlight the moment when she solved the problem at her own expense, which speaks of the person’s professionalism and increased responsibility.
11:40 01 Mar 24
As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly and securely.But that's not all. We had a slightly time-sensitive situation when it came to changing the beneficiary details on our account. Prifinance stepped up to the plate and handled everything quickly and professionally.It's not just about getting the job done. It's about how Prifinance does it. They're all about making complex financial matters simple and accessible for companies like ours. Plus, their team, especially Liubov Malinowski, has been nothing short of fantastic to work with - professional, timely and always on the ball.In short, FewMoreTaps OÜ wholeheartedly endorses Prifinance OÜ. Whether it's opening bank accounts remotely or navigating the financial legalities of running an international business, these guys have got your back. A big thank you to the entire Prifinance team for their first class support and expertise.Here's to more collaborations in the future!Best,Kiryl Nest
Mina KedisMina Kedis
18:10 23 Feb 24
I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia
Róbert KnapecRóbert Knapec
15:08 22 Feb 24
We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.
Anna AnnaAnna Anna
13:33 07 Feb 24
I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license stress-free!
Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and instructions clearly and neatly. No misunderstandings!Honestly, I expected opening a Swiss bank account to be complex and time-consuming, but thanks to Prifinance, I felt like a professional financial expert. Thank you for making this process so easy and enjoyable!
Maria Jose SantomeMaria Jose Santome
20:39 13 Dec 23
I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!
Valon StatovciValon Statovci
12:43 27 Nov 23
I used Prifinance to help me with a new corporate structure. The team were helpful and communicated well from the initial onboarding with Daniel to case handling by Karmen. They also responded to additional requests post incorporation very quickly, Thank you and would work with them again