Private business organizations are listed in the corporate register of the Internal Revenue Service. Initial data must be submitted to business registries and registration fees paid. Cash, debit card or deposit can be paid (see tariff).
The turnaround time for filing a self-employment institution is generally about ten to twelve business days from the date of submission of data to business registers, if they are satisfactory and payment (or payment receipt) is included with the data. You can send a scanned copy of basic data to the email address email@example.com It is not necessary to submit original copies of the data.
The minimum initial capital shall be ISK 1,000,000. and all initial capital shall be paid upon registration. If the initial capital is paid in other than cash, confirmation must be obtained from a lawyer or a certified public accountant that the property in question exists.
The social security number will be created when registering a company. The ÍSAT number (Icelandic Industry Classification) is registered with an organization according to information from the founders about the company’s main activities.
Initial documentation required for registration is in addition to a Notice Form, Initial Meeting, Articles of Association (Charter) and a Notice of Real Owners.
Here you can find a sample of the necessary basic data in a word document. You can edit and customize to your own needs, then print and sign.
- Approved – Signed by majority of the Board.
- Inaugural meeting – signed by the founders.
- Notification of self-employed business enterprise – RSK 17.22 . An application form must be signed by all board members and must be signed by two witnesses, a lawyer, or a certified public accountant.
- Announcement of real owners – RSK 17.27 – Actual owners together with the attorney or majority of the board shall sign the notification.
Take care to ensure:
- The notification form is filled in according to the basic data.
- Handwriting samples are correct.
- All signatures are correct.