Moving a business from USA to Iceland

Ann&chris2012 Member

Member since 14 April 2013

Ann&chris2012Member05 November 2014 03:32:02

Happy Tuesday Fab Expat Friends!

My name is Ann First time poster but avid reader of the goodies on here! So! I have made the decision to transition myself to living in Iceland during the last part of next year (Aug-Nov-ish), woohoo! Wondering a few things...

Currently, I have 2 business in the USA.... a photography biz and a wedding planning business (icelandweddingplanner.com). Wondering if anyone has gone through the formal process of moving a business from the US to Iceland? Complicated process at all to move funds, pay taxes, etc? Any insight is appreciated.

Second, is there any way around having pets be quarantined for an entire month? Are they able to be visited in REYK while they are there? I am gutted at the idea that my little kitty would have to go through that process!

Any insight anyone can lend would be oh-so appreciated during this exciting planning time for me

Thanks in advance for your time and attention and I hope you have the best day ever!

With a smile,
Ann

ECS Norway Expert

Member since 21 July 2006

ECSNorway Expert05 November 2014 08:47:48

1563

some random things I know (or am pretty sure about)
-I don't think it'll be a problem to move money TO Iceland.. they're happy to receive money, less happy to let it go
-I've read that photographers have to be licensed so you should look into that
-companies need to be registered in the company registry. You're probably going to be a privately held company so the rules are here: https://www.rsk.is/fyrirtaekjaskra/stof … log/nr/176
if you're doing it alone, you'd be "ein stofnandi". It also states you need 500.000 isk, or about 4000 USD
-I'm not sure how it works to get a work visa if you are planning to be employed by your own company though. There's no entrepreneur visa. More about work visas can be read at www.utl.is

regarding the quarantine, they are quite strict about it but I do believe you can visit. There's some more info on this somewhere in the forum that I posted a while ago.