Business

The share capital of a public limited company (hf) is divided into two or more shares, but the share capital of a private limited company (ehf) may be owned by one person or by more than one shareholders. A publicly owned company (ohf) is always owned by the state or by more than one shareholders.

A partnership (sf) is a company where there are two or more owners. Other corporate legal forms are, for instance, co-operative societies, self-governing institutions and limited partnership companies.

Self-employed (own-account workers/contractors) are self-employed, and are not employed by anyone else. A sole proprietorship is a business owned by an individual and is typically operated under its own State Registration number

It is relatively simple to establish a company in Iceland. It is important, however, that the legal form of the business is suitable for the company's activities.