Operating licence for an industry for professional purposes

General information

Nobody may operate industry for professional purposes in Iceland or within Icelandic territorial waters without having obtained permission to do so in accordance with the Industrial Act.

The Act applies to the operation of any kind of industry for professional purposes. Industry includes both manual trades and manufacturing industry whichever materials or energy, machinery or other equipment are used and whichever goods or materials are produced. Domestic crafts shall be exempted from the provisions of the Act.

Obligations

Anyone can obtain a licence to operate an industry, manual trade and manufacturing industry if he meets the following conditions:

  1. [Is an Icelandic citizen.  A foreign citizen having legal domicile in this Country and having had this uninterrupted for at least a year shall, however, be exempted from the condition respecting Icelandic citizenship. As of the entry into force of the Act respecting the European Economic Area citizens of other Member States of the European Economic Area shall be exempted from the conditions respecting Icelandic citizenship and residence in this Country according to further provisions to be laid down by the Minister by means of Regulations.] 1)  [Citizens of Member States of the Convention of the European Free Trade Association and Faroese enjoy the same kind of right as specified in the third sentence. ]2)  3)   4)
  2. Is of legal age.
  3. Has control over his estate.
  4. Has not been convicted of a punishable act as defined in the Penal Code.
  5. Has business knowledge, such as knowledge of book-keeping, which is required upon leaving examination from a Technical School.
  6. Meets in other respects the conditions laid down in the Industrial Act.

Laws and regulation

Application