Business-to-business consulting services in Iceland

At Swapp Agency we know that our B2B clients are trying to save time and money in their production process. Many companies do not consider B2B actions and fail to expand their business abroad. Iceland is a very specialized market where expertise is crucial for the success of foreign or local investments. The country is very open, but companies need to understand how the locals spend their money and how the government and other companies can influence a favourable outcome for the company. Our agency is one of the few that specialise in B2B consulting in Iceland. Swapp Agency can advise you with B2Bb2b solutions in Iceland and guide you through the entire process of starting a business in the country.

Your Guide for B2B in Iceland

Iceland’s key advantages in terms of attracting foreign direct investment include a well-educated, English-speaking labour force, a positive economic environment and high purchasing power. The country’s business environment is favourable. Iceland is ranked 26th out of 190 countries in the 2020 Doing Business ranking published by the World Bank.

The Icelandic authorities strive to provide a favourable business environment. This includes a low corporate tax rate of 20 and a new, effective incentive system for foreign investment. The general aid ceiling is 15% of the initial investment costs. Iceland has also simplified all company formation procedures so that it now only takes one day to set up a limited liability company. The establishment of free trade zones and competitive clusters is another measure to encourage investment. Iceland also offers tax incentives for research and development.

You need to know, understand and implement all these legal advantages to ensure the success of your business. In addition, the relationships between local consumer habits, competitors, suppliers and new products entering the market in Iceland must be fully understood. Hiring a B2B consultancy in Iceland is an easy way for smart businesses to establish themselves without any hassles.

As a member of the 28-nation European Economic Area, Iceland offers an ideal platform for duty-free access to key EU markets and is a highly competitive location for EU companies to operate. Currently, the national currency (Icelandic krona) is strongly revalued against foreign currencies. For this reason, goods and services from abroad are particularly favourable for locals, which creates great opportunities for exporters.

Foreigners investing in Iceland have usually opted to set up limited companies or branches of limited companies. Corporations and registered branches of non-resident companies must file an annual income tax return, regardless of whether they have taxable income.

There are some sectoral restrictions that apply to all non-residents. The right to fish within the Icelandic fishing jurisdiction is limited. The use of waterfalls and geothermal energy for other than domestic purposes is restricted to locals. Extensive property investment is also restricted to foreigners.

Setting up a business in Iceland is a fairly quick procedure that involves applying for registration in the business register, obtaining a VAT number and reporting the employment of workers to the tax authorities. Therefore, B2B services in Iceland will help you.

Get in touch with Icelandic experts

Contact SwappAgency for comprehensive commercial and legal advice. We are a leading group of experts in various fields. Our professional team is ready to provide you with exclusive B2B advice in Iceland and guide you through the entire process of investing in Iceland.