- Remote setup
- Possible
- Visit, notary or lawyer
- Not required
- Local director
- Resident/EEA citizen
- Registered address
- Not stated
- Minimum capital
- ISK 500,000
- Yearly upkeep
- Accounts in 8 months
- EU member
- No
- IWG business address
- 14 centresfrom $47/mo
What the registry requires
| Company type | Einkahlutafélag (ehf.) |
|---|---|
| Registry | Iceland Revenue and Customs (Skatturinn) – Register of Enterprises (Fyrirtækjaskrá) |
| Government filing fee | ISK 140,500 — 'Stofnun einkahlutafélags (ehf.) kr. 140.500' in the Register of Enterprises tariff; the invoice is sent to the applicant's online bank. |
| Registration time | 3–5 working days for electronic applications; paper filings generally 2–3 weeks (Icelandic page: ten to twelve working days). |
| Resident director | Act 138/1994 art. 42: managing directors and at least half of the board must be resident in Iceland, but the requirement does not apply to citizens of EEA/EFTA states or the Faroe Islands who reside in those states. Officers without an Icelandic ID number are given a 'system ID' applied for with the registration. |
| Visit, notary or lawyer | No notary is mentioned. Electronic registration requires Icelandic electronic ID (rafræn skilríki) for all parties; founders without it file the paper forms (RSK 17.21 notice, memorandum, minutes, articles, RSK 17.27 beneficial owners). All company documents must be in Icelandic. |
| Registered address | Skatturinn's registration pages do not state whether a service or virtual address may serve as the company's registered address. |
| Minimum capital | ISK 500,000 |
| Corporate tax | Income of registered hf. and ehf. companies is taxed at 20 % (Skatturinn assessment basis 2026; island.is). |
| Every year | Annual financial statements must be submitted to Iceland Revenue and Customs for publication no later than one month after approval or eight months after the fiscal year end. |
What it costs
- Government filing fee
- ISK 140,500
- ≈ $1,173 at ECB rates
'Stofnun einkahlutafélags (ehf.) kr. 140.500' in the Register of Enterprises tariff; the invoice is sent to the applicant's online bank.
- Every year
- Accounts in 8 months
Annual financial statements must be submitted to Iceland Revenue and Customs for publication no later than one month after approval or eight months after the fiscal year end.
- Not included
- Provider fees
Registered agent or address, notary fees, accounting and bank onboarding vary by provider — ask for a quote in the request form.
How to register a company in Iceland, step by step
- Draft the memorandum, articles and founding-meeting minutes in Icelandic.
- Pay the full share capital of at least ISK 500,000 before registration.
- Appoint a managing director and board meeting the residency/EEA-citizen rule.
- Apply for system ID numbers for any foreign founder, board member or director without an Icelandic ID.
- File electronically (Icelandic e-ID) or on paper with the RSK 17.21 form and beneficial-owner form, and pay ISK 140,500.
- Register for VAT and payroll as needed and submit annual accounts within eight months of year end.
Corporate tax in Iceland
20% corporate tax. Income of registered hf. and ehf. companies is taxed at 20 % (Skatturinn assessment basis 2026; island.is).
Rates are the headline figures published by the tax authority; your effective rate depends on residence, activity and treaties. This is not tax advice.
Common mistakes
- Submitting documents in English – the Act requires all company documents in Icelandic.
- Appointing a non-EEA managing director who does not live in Iceland.
- Expecting online filing without Icelandic electronic ID for every signatory.
Compare Iceland with alternatives
| Yearly upkeep | |||||||
|---|---|---|---|---|---|---|---|
 NorwayAS | NOK 6,825≈ $718 | Up to 2 weeks | 22% corporate tax | Half of board in EEA | Not required | Norwegian address | Accounts by 31 July |
 SwitzerlandGmbH | CHF 600≈ $724 | 5–60 days | ≈14.4% avg (8.5% fed.) | Swiss resident | Public deed | Registry silent | Not stated |
 Icelandehf. | ISK 140,500≈ $1173 | 3–5 working days | 20% corporate tax | Resident/EEA citizen | Not required | Not stated | Accounts in 8 months |
 AustriaGmbH | Varies | Not stated | 23% (min. €500/yr) | No | Notarial deed | Registry silent | €500 minimum tax |
4 of 4 · official sources, checked September 27, 2026. Government fees only; agent and address costs are extra.≈ USD at ECB reference rates of September 25, 2026.
Nearest by region and government fee. All 83 jurisdictions in one table · take the quiz.
Sources
- Registration fee ISK 140,500 — skatturinn.is, checked September 27, 2026
- 3–5 working days electronic; Icelandic e-ID required — skatturinn.is, checked September 27, 2026
- ISK 500,000 fully paid; required forms; paper 2–3 weeks; system ID; Icelandic language — skatturinn.is, checked September 27, 2026
- Paper processing ten to twelve working days — skatturinn.is, checked September 27, 2026
- Art. 42 residency rule and EEA exemption; art. 1 minimum capital — althingi.is, checked September 27, 2026
- 20 % tax; annual accounts within 8 months — island.is, checked September 27, 2026
- System ID for foreign founders, board members and directors — island.is, checked September 27, 2026