1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Create Buisness

Discussion in 'Business & Tax Advice' started by Zorky, May 3, 2014.

  1. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    I want to create a business but problem in Iceland is cost 10.000$ dollars are there any alternatives I can choose from ?
     
  2. DaQuark

    DaQuark Junior Member

    Joined:
    Jun 4, 2011
    Messages:
    130
    Likes Received:
    43
    Location:
    home sweet home
    wow! In Iceland it costs $10.000 to open up a business? even as a freelancer? what about smaller businesses or home business?
     
    • Thanks Thanks x 1
  3. TheFreshPrince

    TheFreshPrince Jr. VIP Jr. VIP Premium Member

    Joined:
    Jan 11, 2014
    Messages:
    403
    Likes Received:
    206
    Gender:
    Male
    Occupation:
    Student / Entrepreneur
    Location:
    Boston, MA
    Home Page:
    Do you need to be in ice land for this business to work? Why not explore the world and start your business elsewhere.
     
    • Thanks Thanks x 1
  4. Trepanated

    Trepanated Supreme Member

    Joined:
    Sep 18, 2010
    Messages:
    1,395
    Likes Received:
    5,324
    You can set up a Partnership in Iceland with no capital requirements. You just need to pay for the registration.
     
    • Thanks Thanks x 1
  5. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    That is my plan I was just wondering what place is best to setup a business it does not matter where in the world :p
     
  6. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    Im not sure that works for me since it needs 1 partner or more also pretty sure it is under the same laws to have startup money in the bank for the company.

    This is starter cost for everyone since we have issues with company id being changed to avoid paying taxes so they just created another company then another :(
     
  7. Trepanated

    Trepanated Supreme Member

    Joined:
    Sep 18, 2010
    Messages:
    1,395
    Likes Received:
    5,324
    There is only a capital requirement for Limited Liability companies, not for Partnerships.

     
    • Thanks Thanks x 1
  8. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    ok but it will require at least 2 people :(
     
  9. Trepanated

    Trepanated Supreme Member

    Joined:
    Sep 18, 2010
    Messages:
    1,395
    Likes Received:
    5,324
    I'm sure there are other people in Iceland who are in the same situation as you and can't afford the capital requirement for a Limited Liability company.

    Find one of them.

     
  10. DaQuark

    DaQuark Junior Member

    Joined:
    Jun 4, 2011
    Messages:
    130
    Likes Received:
    43
    Location:
    home sweet home
    does the partner must be from Iceland? why not search a partnership here on the forum? if you have a good idea and want to partner up with someone, you might want to check out the joint venture section
     
    • Thanks Thanks x 1
  11. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    Well I wanted to create my own company and it does not have to be in Iceland.
     
  12. Siggibiggi

    Siggibiggi Junior Member

    Joined:
    Aug 16, 2012
    Messages:
    101
    Likes Received:
    29
    Home Page:
    hey Zorky . I´m from iceland to and i don't know where you have been getting your info but $10.000 for .ehf is not right :)
    er
     
    • Thanks Thanks x 1
  13. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    I was told the new laws past to stop social id changes to avoid taxes was about 750.000kr then there are additional cost you have to take care off

    Can you explain also how partnership works in Iceland?
    And how much is cost to make ehf ?
     
    Last edited: May 4, 2014
  14. Siggibiggi

    Siggibiggi Junior Member

    Joined:
    Aug 16, 2012
    Messages:
    101
    Likes Received:
    29
    Home Page:
    Getur verið að það se buið að breyta þessu einhvað en þu getur byrjað bara með vsk númer og breytt siðan yfir i ehf þegar þu att efni a þvi getur lika skoðað .slf eða sf ertu með skype ?
     
    • Thanks Thanks x 1
  15. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    I think using VSK on my own social ID works until I get the capital for ehf and company social id, also if you sell for less then 1.000.000 isk you don't have to give up anything for taxes but the price to make company is about 6.687 dollars so its bit cheaper then what I was told.
     
  16. Siggibiggi

    Siggibiggi Junior Member

    Joined:
    Aug 16, 2012
    Messages:
    101
    Likes Received:
    29
    Home Page:
    zorky are you icelandic or a foreigner living in iceland ?
     
  17. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    I'm Icelandic :)
     
  18. f117a

    f117a Newbie

    Joined:
    May 13, 2013
    Messages:
    18
    Likes Received:
    1
    PM me with your skype details
     
  19. Zorky

    Zorky Newbie

    Joined:
    Jan 13, 2014
    Messages:
    16
    Likes Received:
    0
    Need 5 more post for pm :p