IS · N 64°09′ · W 21°56′
Iceland
An Icelandic private limited company can support Nordic trading, on-the-ground operations, or project investment, with shareholder liability limited to capital contributed. Mainland Chinese and Hong Kong shareholders should plan for director and manager residence rules and check restricted sectors and licences.
A Nordic base for real operations.
Private limited company (Einkahlutafélag, ehf.)
Talk to an advisorKey points on one page.
- Tax
- Corporate income tax 20%; Pillar Two exposure for large multinational groups requires case-specific review.
- Shareholders and directors
- Min. 1 shareholder and 1 director; the same person may hold both roles.
- Share capital
- Min. ISK 500,000, fully paid before registration.
- Local requirements
- Icelandic registered address; at least half of directors and any manager must reside in Iceland unless an exemption applies.
- Annual maintenance
- Annual accounts due within 8 months; corporate returns generally due 31 May; audit depends on company size.
- Incorporation timeline
- Paper filing usually 2–3 weeks; electronic filing 3–5 business days with Icelandic e-ID.
- Public disclosure
- Director details are on the company register; specified beneficial-owner details are public.
Facts last checked · 2026-10-23
This page summarises publicly available regulations for general reference only and does not constitute legal or tax advice. Rules in each jurisdiction may change at any time; please confirm the latest position with an Offshore Isle advisor.
References (9)›
- 01Iceland Directorate of Internal Revenue — Private Limited Companies
- 02Government of Iceland — Establishing a Business in Iceland
- 03Act No. 138/1994 respecting Private Limited Companies
- 04Act on the Registration of Beneficial Ownership
- 05Act No. 3/2006 on Annual Accounts
- 06PwC Worldwide Tax Summaries — Iceland
- 07PwC Worldwide Tax Summaries — Iceland Tax Administration
- 08Government of Iceland — Restrictions on Investments by Non-residents
- 09KPMG — Iceland Budget 2026 proposes Pillar Two implementation
02 · Advantages
Why Iceland
- 0120% corporate income tax for private limited companies.
- 02May be incorporated with one shareholder and one director.
- 03A vehicle for Nordic operations within the EEA legal framework.
03 · Requirements
Formation requirements
- Company formation documents must be in Icelandic.
- Pay in ISK 500,000 of share capital before registration.
- Non-OECD or non-EEA residents appointed as directors or managers must confirm a residence exemption first.
04 · Compliance
Annual compliance
- Hold at least one annual general meeting, no later than 8 months after year-end.
- File annual accounts within 1 month of approval and no later than 8 months after year-end.
- Notify the beneficial-owner register within 2 weeks of a change.
After incorporation, Offshore Isle sets a compliance calendar. We remind you in advance of annual returns, renewals and filings, and handle them on your behalf.
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