Iceland is a country in Northern Europe.You can play golf 24/7 in the summer, that is if you don’t mind 15 degrees. It has a population of 316,000, and a land area of 103,000 KM. Its capital city is Reykjavik. It is made up of volcanic mountains which plateau into sand fields and glacier rivers flow into the sea. In the past its only industry was fishing and agriculture. Then in the 20th Century Iceland’s economy developed rather quickly. Economic reforms have been a positive impact with free trade in the European Economic Area. New economic fields are in service, finance, and various industries.
Today Iceland has some of the world’s highest levels of economic freedoms. It is among the top 10 richest countries in the world. According to Human Development Index, Iceland is the most developed country in the world. Investment incentives are low corporation tax, competitive labor costs, payroll costs, and low energy prices. Many communities offer incentives, such as grants through the New Business Venture Fund and Science Fund. Special incentives are granted for TV and Film Production.
Restrictions on Foreign Investment. Under the European Economic Area Agreement Investment in Iceland By EEA residents is in principle free status. Non residents may invest in a business enterprise by adhering to their laws and acquisition of licenses required by law. The fishing industries are reserved for residents of Iceland.
Property Purchase Laws. Investment in real properties are open to individuals and legal entities under the Convention of European Free Trade Association. You can enter the country on a 6 month stay to take a look at this beautiful country. After that you need to apply for residency or permission to stay. The registration of a deed for real property without permission is dependent on the holder of the right presenting a special declaration. The ministry of justice may grant exemptions.
