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Fees and timelines in 2023

Fees

payment by instalmentIceland LLC setup costs in Year 1 will amount to €6,950 and annual company costs in Year 2 and thereafter will amount to €950. The average fee per engagement amounts to €23,860 including i) Iceland company incorporation, ii) corporate bank account setup, iii) legal registered office and iv) all government registration fees.

Different Iceland entity typesCostDraft invoice
LLC€23,860View invoice PDF
PLC€16,950View invoice PDF
Branch office€16,950View invoice PDF
Trust€22,350View invoice PDF
LLC with Bitcoin bank account€19,950View invoice PDF

Click here to create your own Iceland invoice

Other fee considerations

Timelines

The average Iceland company registration period is 11 weeks as outlined below:

ServiceLLCPLCBranchRep Office
Engagement planning1 week2 weeks2 weeks1 weeks
Company incorporation period2 weeks4 weeks4 weeks2 weeks
Bank account approval4 weeks4 weeks4 weeks4 weeks
Internet banking approval3 weeks1 week1 week1 week
Engagement completion1 week1 week1 week1 week
Total engagement period11 weeks12 weeks12 weeks9 weeks

iceland business registration engagement period timeline

  • Preparing a detailed project plan;
  • Our Client confirms the corporate structure;
  • Collecting due diligence from our Client.
  • Our Client signs the corporate bank account opening forms;
  • Healy Consultants prepares a business plan;
  • Healy Consultants visits the bank for interview;
  • The Bank Legal and Compliance Department review and approve the banking application;
  • The Bank Front Office email corporate bank account numbers to our client.
  • The Bank Operations Department mails the internet username and passwords to our Client;
  • Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.
  • Healy Consultants confirms all Client due diligence is received;
  • Healy Consultants couriers to our Client the complete original company and bank account documents;
  • Our Client completes our web page feedback survey;

Contact us

For additional information on our company registration services in Iceland, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
Government offices of Iceland Iceland Chamber of Commerce Iceland Ministry of Finance and Economic Affairs Iceland Ministry for Foreign Affairs Invest in Iceland The Central Bank of Iceland
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