Public Limited Companies

Public limited companies are registered in the Directorate of Internal Revenue's Registers of Enterprises and Annual Accounts (company register). The company registration documents are submitted to the company register office or by mail/email. The registration fee can be paid by card or deposit to an account (see tariff).

Processing time for an application for registration of a limited company is generally about 2-3 weeks from the date of submission to the company register if satisfactory and payment (or payment receipt) is included with the submission. Scanned copies of the original forms and documents can be sent via email to It is not necessary to submit originals.

Share capital

The minimum share capital is ISK 4,000,000. At least half shall be paid at the time of the company's formation, however, in no case less than ISK 4,000,000. If the capital is paid in other valuables than cash, the applicant will need to provide a declaration by a lawyer or a certified accountant that the relevant assets are present. The founders of a limited company shall be at least two and the shares are held by two or more parties.

Foundation forms

The company's identification number is created at the time of registration. The ISAT number (Icelandic NACE) is registered at the time of establishment according to the information of the founders on the company's main activities.

The initial documents that must be submitted for registration are:

  • the notice of establishment of a public limited company form RSK 17.21
  • the Memorandum of Association
  • the Minutes of the Meeting 
  • the Articles of Association (Bylaws/Statutes) 
  • a Notification of the Beneficial Owners of the company. 

According to the Act on Public Limited Companies, all company documents submitted to the Register must be in Icelandic. Many accountants, auditors or lawyers offer professional help with the formation of companies.

If directors/CEOs/ procuration holders do not have an Icelandic ID number, the company register may apply for a system ID number to Registers Iceland. See application form RSK 17.62.