Fees and timelines in 2022

Fees

payment by instalmentIceland LLC setup costs in Year 1 will amount to €8,900 and annual company costs in Year 2 and thereafter will amount to €4,500. The average fee per engagement amounts to €16,950 including i) Iceland company incorporation, ii) corporate bank account setup, iii) legal registered office and iv) all government registration fees.

Different Iceland entity types Cost Draft invoice
LLC €16,950 View invoice PDF
PLC €16,950 View invoice PDF
Branch office €16,950 View invoice PDF
Trust €22,350 View invoice PDF
LLC with Bitcoin bank account €19,950 View invoice PDF

Click here to create your own Iceland invoice

Timelines

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

Service LLC PLC Branch Rep Office
Engagement planning 1 week 2 weeks 2 weeks 1 weeks
Company incorporation period 2 weeks 4 weeks 4 weeks 2 weeks
Bank account approval 4 weeks 4 weeks 4 weeks 4 weeks
Internet banking approval 3 weeks 1 week 1 week 1 week
Engagement completion 1 week 1 week 1 week 1 week
Total engagement period 11 weeks 12 weeks 12 weeks 9 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