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Incentives and Investment Agreements

Special incentives are in place to promote Initial Investments in Iceland, with Act 41/2015 on Incentives for Initial Investments in Iceland. The purpose of the Act on Incentives for Initial Investments in Iceland is to enhance initial investment, regional development and the competitiveness of Iceland by stipulating which incentives can be granted to initial investment projects in Iceland and how they should be used. However, the Act does not apply to investments in companies which provide services on the basis of legislation on financial undertakings, insurance operation or securities. The government authorities are permitted to grant both general and regional incentives for new investments in Iceland up to a defined ceiling, in line with EU legislation. The regional incentives apply to areas outside the capital area. Committee on new investment incentive examines applications for incentives and submit recommendations to the Minister of Industries and Innovation in accordance with Article 4 of the Act.

Useful Links:

The Industrial Act No. 42/1978

  • Information for Tradesmen and Others
  • Rocognition og the Right og Foreigners to Work as Tradesmen in Industry in Iceland
  • Regulation No. 940/1999 respecting Authorized Branches of Industry
  • Regulation No. 495/2001 respecting Recognition of Work and Vocational Training in Industry in Another EEA State 

Act respecting the Authorization of Several Professional Titles of Specialists in Technical and Design Faculties. No 8/1996

  • Announcement concerning Assessment of Applications for Permission to call Oneself a Chartered Engineer.
  • Rules on the assessment of applications for permission to use the professional titel of Furniture Architect and/or Interior Arcitect

Act No. 109/2000 respecting Professional Rights of Dental Technicians

  • Regulation No 904/2000 respecting Professional Rights of Dental Technicians
  • Rules No. 937/2000 respecting Limitation of Professional Rights of Dental Technicians

Act No. 75/2007 on Government Support for Technology Research, Innovation and Industry Development

Law No. 152/2009 on support for innovation companies. 

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