Iceland's leading local credit information provider, Creditinfo, has annonced that the company will be moving out of Iceland this year. The company's chairman, Reynir Grétarsson, confirmed with news site Kjarninn that the company would be leaving but would not disclose to where or comment any further.
Reynir emailed a number of MP's earlier this year and expressed his concern and encouraged the government to take action to improve the operating conditions of Icelandic companies. Draconian capital controls were introduced in the autumn of 2008 to stabilize the crisis hit economy. None of the MP's he contacted responded to his email.
Reynir told mbl.is that the reason for the move is the state of the Icelandic economy. He said that they hope to move the company this year, but the the capital controls could possibly interefere with the move and delay it. A location has not been decided upon, but Reynir confirmed it would be in Europe.
60 people currently work at Creditinfo's headquarters in Reykjavik and Reynir said that all employees would keep their jobs. Only a small number of people will be required to relocate with the company, all of which who have requested to be relocated.
Creditinfo is now a part of an everygrowing group of Icelandic entrepreneurial companies that plans on relocating because of the economic situation and currency restrictions. Other companies include Marel, CPP and Össur, whose foreign shareholders have all put a pressure on getting them to move out of Iceland.
Currency restrictions in Iceland are one of the main reason Creditinfo plans on relocating to mainland Europe. Creditinfo's Chairman says the company is being pushed out of Iceland because of the currency restrictions.
Iceland's leading local credit information provider, Creditinfo, has annonced that the company will be moving out of Iceland this year. The company's chairman, Reynir Grétarsson, confirmed with news site Kjarninn that the company would be leaving but would not disclose to where or comment any further.
Reynir emailed a number of MP's earlier this year and expressed his concern and encouraged the government to take action to improve the operating conditions of Icelandic companies. Draconian capital controls were introduced in the autumn of 2008 to stabilize the crisis hit economy. None of the MP's he contacted responded to his email.
Reynir told mbl.is that the reason for the move is the state of the Icelandic economy. He said that they hope to move the company this year, but the the capital controls could possibly interefere with the move and delay it. A location has not been decided upon, but Reynir confirmed it would be in Europe.
60 people currently work at Creditinfo's headquarters in Reykjavik and Reynir said that all employees would keep their jobs. Only a small number of people will be required to relocate with the company, all of which who have requested to be relocated.
Creditinfo is now a part of an everygrowing group of Icelandic entrepreneurial companies that plans on relocating because of the economic situation and currency restrictions. Other companies include Marel, CPP and Össur, whose foreign shareholders have all put a pressure on getting them to move out of Iceland.
