Business to Business in Iceland B2B is hassle-free. The authorities know that handling business with expertise is very crucial for the promotion of local and foreign investment. The environment is conducive for a thriving business environment. Iceland’s ranking is really good among the top countries according to the report published by the World Bank.
Advantages of B2B in Iceland
The main advantages in terms of doing business in Iceland are quite a few:
- The business atmosphere is very friendly
- Iceland has a well-educated English speaking manpower, which helps to boost the business to the top level
- Iceland has a very positive approach to economic progress
- Iceland authorities create a favorable business atmosphere for the investors by charging them a low corporate tax and giving them an incentive to invest
For setting up B2B relations, the procedures are not complicated at all. It just takes one day to complete the formalities for setting up a company in Iceland. Authorities in Iceland offer established free trade zones and environment-friendly competitive clusters. These clusters are meant to facilitate collaboration between companies and produce synergies relating to common innovative projects. Along with these facilities, the Icelandic government offers deductions in tax for development and research programs.
For all the investors, business in Iceland can be very lucrative, provided all the advantages are understood well enough. If utilized properly, these advantages can assure the sure-shot success of any company. However, the very basic and important issue to be kept in mind by the investors is the relation between local consumers, providers, and competitors. The best solution for the companies planning B2B collaborations is to hire B2B consultation in Iceland without any delay.
As one of the prime members of the European economic area, Iceland has created the most suitable platform for conducting B2B transactions. Most B2B transactions are tariff-and Iceland also provides the most competitive platform for these companies to operate. Under the present circumstances, the local Iceland currency is valued strongly against foreign currencies. This is advantageous for the local people. Things imported from abroad are relatively cheap as a result, and it also creates good B2B opportunities for exporters.
Rules for B2B transactions in Iceland
For B2B transactions in Iceland certain rules need to be noted:
- Non-resident investors have to file an annual income tax return even if their income is non-taxable
- For foreign investors, some sector-based restrictions are applied. For example, fishing operations have limited opportunities for foreign investment.
- There are limitations on foreigners investing in real estate
- Foreign investors are eligible for using waterfalls and geothermal energy only for domestic use and not for commercial purposes.
In spite of all the restrictions, it is still favorable for foreign investors to invest and conduct business in Iceland. There are several options for availing B2B services.
Availing B2B consulting services
Firms looking for professional help in establishing B2B relations can contact agencies providing B2B consultancy services. Swapp Agency is an extensive and commercial legal operating consulting agency that provides assistance for B2B for investing in Iceland. Swapp Agency has reputed and legal consulting professionals who can facilitate your business venture in Iceland. These professionals provide intricate details to the investors to run their business smoothly and in the process save time and money. Transparency is highly maintained by the legal consultant professionals of the agency. Investors can contact Swapp Agency any time for B2B consultancy.