Starting a business in Iceland

Legal Forms of Companies

Einkahlutafelag is a Private Limited Company.

Number of partners: No minimum
Capital (max/min): ISK 500,000.
Shareholders and liability: Liability is limited to the amount contributed

Hlutafelag is a Public Limited company.

Number of partners: At least two founders, a minimum of two shareholders, at least one manager and no less than three persons on the board of directors
Capital (max/min): ISK 4 million
Shareholders and liability: Liability is limited to the amount contributed

Partnership

Number of partners: Minimum two
Capital (max/min): No minumum capital required
Shareholders and liability: Unlimited

Co-operative Societies

Number of partners: Minimum of fifteen founders
Capital (max/min): No minumum capital required
Shareholders and liability: limited to the payment of a membership fee and the share of ownership of the society's funds

Business Setup Procedures

Source: Doing Business - Latest available data.