Q: How hard is it for foreigners to purchase property in Iceland?
A: Citizens living in member states of the European Economic Area (EEA) may acquire property rights in Iceland without the permission of the Minister of Justice. These include; Employees who are citizens of a member state of the EEA and who work as such in Iceland, or have EEA-residence permit; EEA- and EFTA-citizens who have established themselves, or intend to establish themselves, in Iceland in order to engage in independent business operations; EEA- and EFTA-citizens and companies who are domiciled in another member state and have established, or intend to establish, a branch or an agent's office in Iceland, or who intend to render services in Iceland.
Non-EEA citizens must have domicile in Iceland in order to purchase real property in the country and need the minister’s permission.
Q: How hard is it for foreigners to purchase property in Iceland?
A: Citizens living in member states of the European Economic Area (EEA) may acquire property rights in Iceland without the permission of the Minister of Justice. These include; Employees who are citizens of a member state of the EEA and who work as such in Iceland, or have EEA-residence permit; EEA- and EFTA-citizens who have established themselves, or intend to establish themselves, in Iceland in order to engage in independent business operations; EEA- and EFTA-citizens and companies who are domiciled in another member state and have established, or intend to establish, a branch or an agent's office in Iceland, or who intend to render services in Iceland.
Non-EEA citizens must have domicile in Iceland in order to purchase real property in the country and need the minister’s permission.
