Company Filing Requirements in Iceland

Icelandic company credit reports are delivered by email within 24 hours in most cases. If a company is not live on our database, we will carry out a fresh investigation for you.

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Credit Report Content

The reports are updated on a daily basis and include, where available:

Registration information including address, registration date, number etc
Contact details including website etc, where available
Credit recommendations, where financial data has been analysed
Type of company, size and trading status
Financial data and key ratios (if filed)
Shareholders and share capital
Directors
Associated companies
Public records
General information, including reporter comments

Official documents available

Copies of original legal documents filed at the company registry. Documents are in the official local language and certified translations can be arranged if required. Please contact us to order documents.

Certificate if Incorporation

Accounts filing requirements and legal obligations

All Private companies (Ltd)
All Public companies (PLC)
Branches of foreign companies
All cooperatives and sole proprietorships if two out of three applies to the companies, two years running
- Equity of ISK 230.000.000 or more
- Revenue of ISK 460.000.000 or more
- 50 employees or more
Financial institutions
State corporations
Securities´ funds

The annual accounts for the financial year 01/01/2006 to 31/12/2006 must be filed by 01/08/2007

In general the filing requirements for Icelandic companies are the same - independent of the size and type of company (with one exception)

All companies not claiming an exemption must file:

Full profit and loss account
Full balance sheet
Cash flow
Auditor´s report
Directors´ report
Notes to the accounts
Shareholders with more than 10% share must be listed
Group accounts (if appropriate).

Exception
Companies that have not met two out of three of the following requirements two years running, have the right to file a condensed income statement:

Equity of ISK 230.000.000 or more
Revenue of ISK 460.000.000 or more
50 employees or more

Information sources

National Company Registry
National Register
Tax Authorities
Creditinfo´s Default Debtors´ Database
Land and Real Estate Registry
Media monitoring (FMV)
And other suppliers