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07. Sep 2026Ministry of Industries, Business and Industry

Responsible business conduct

Responsible business conduct Ministry of Industries Responsible business conduct ensures that companies and investors operate in line with the needs of society. It means that innovation, investment, and operations are carried out responsibly and meet the highest quality standards across the entire value chain, wherever in the world. Responsible business conduct is about taking responsibility for a company’s activities and working to limit negative impacts on people, the environment, and society

04. Aug 2026Ministry of Industries, Ministry of Justice, Consumer Affairs

Consumer Affairs

Consumer Affairs Ministry of Industries Ministry of Justice Ministry of the Environment, Energy and Climate Consumer affairs are a concern in many areas of public administration. The traditional definition of a consumer is an individual who purchases goods or services, with the purchase not comprising part of a commercial activity, from a seller who sells the goods or services on a commercial basis. Consumer affairs include all issues which are covered by this definition and, as a result, they are part of the tasks of all state agencies directly or indirectly responsible for public supervision of business and commercial activities

31. Jul 2026Ministry of Industries, Business and Industry

Business and industry

Hari Business and industry Ministry of Culture, Innovation and Higher Education Ministry of Industries Industrial activity in Iceland has always been based to a major extent on utilisation of natural resources, such as fisheries, agriculture and energy-intensive industry. In recent decades the variety of industrial and business activity has increased greatly in tandem with rapid technological advances, growing emphasis on innovation and the creative sector, and a very substantial increase in tourism. The state's role is to prepare the ground for vital, varied and entrepreneurial business throughout Iceland, based on sustainable resource utilisation, and which is capable of taking advantage of the newest technological advances

21. May 2026Ministry of Industries, Business and Industry

Management strategy and harvest control rules

Management strategy and harvest control rules Ministry of Industries The management strategy for Icelandic fish stocks, in general, is to maintain the exploitation rate at the level which is consistent with the Precautionary Approach and that generates maximum sustainable yield (MSY) in the long term. Harvest Control Rules (HCR) are set by the managers of the fishery, in the case of Iceland by the government and are based on knowledge on the state of the stock and take account of the managers objectives, the nature of the resource and uncertainties. The main aim HCRs is thus to: Decrease the risk of short term interests influencing the level of exploitation

20. May 2026Ministry of Industries, Business and Industry

Competition

Competition Ministry of Industries The objective of the Competition Act is to promote effective competition in economic activities and thereby increase the efficiency of the productive factors of society. The Competition Authority is responsible for achieving the objectives of the Competition Act by opposing unreasonable barriers and restrictions on freedom in economic activities, by opposing harmful oligopolies and restrictions of competition and by facilitating the entry of new competitors to the market. The role of the Competition Authority includes the following: To enforce the requirements and prohibitions of the Competition Act and, as applicable, Articles 53 and 54 of the EEA agreement, and to permit exceptions pursuant to the Competition Act

07. May 2026Ministry of Industries, Business and Industry

Company Law / Accounting / Auditing

Company Law / Accounting / Auditing Ministry of Industries The topic of Company Law, including registration of companies, accounting and auditing, falls under the auspicies of the Ministry of Industries. This includes matters concerning the Company Register and the Register of Annual Accounts, but the registers are operated by the Iceland Internal Revenue and Customs. Here under also falls legislation on certain types of NPOs

24. Mar 2026Ministry of Industries, Business and Industry

Industrial Property Rights

Industrial Property Rights Ministry of Industries The Icelandic Patent Office is a government agency under the auspices of the Minister of Industries and Innovation. The Office was established on 1 July 1991 and assumed responsibility for the patent and trademark department of the Ministry of Industry. The Office's organisation and scope of operation are defined by Advertisement No 187/1991 and Regulation No 188/1991

19. Mar 2026Ministry of Industries

Organizational chart

Organizational chart Ministry of Industries The Ministry of Industries consists of five offices. The objective of the ministry’s organisational structure is to strengthen policy development and improve coordination of actions in implementing the policies of the ministry and the minister. Office of the Permanent Secretary The Office of the Permanent Secretary is responsible for coordinating the ministry’s projects and managing large strategic initiatives

13. Mar 2026Ministry of Industries

Industry

Industry Ministry of Industries Recent technological developments have resulted in the continuous growth of knowledge-based industries and services. The five fastest-growing industrial sectors in Iceland over the past few years have been in the information and communication technology (ICT) industry: health technologies (including pharmaceuticals), biotechnology, genetics, biomedical engineering and IT-based equipment production for food processing. After years of effort, developments in these fields have progressed from research to profitable operations

11. Mar 2026Ministry of Industries, Business and Industry

Business Iceland

Business Iceland Ministry of Industries Business Iceland is a public-private partnership established to improve the competitiveness of Icelandic companies in foreign markets and to stimulate economic growth through increased export. The goals of Business Iceland are promoting Iceland as a tourism destination, assisting in the promotion of Icelandic culture abroad, and introducing Iceland as an attractive option for foreign direct investment. Business Iceland also assists Icelandic companies seeking to grow internationally through competence building programs as well as international events, such as trade fairs, press trips, and trade delegations

11. Mar 2026Ministry of Industries, Business and Industry

Road Map for Tourism in Iceland

Road Map for Tourism in Iceland Ministry of Industries A Road Map for Tourism in Iceland was published in late 2015, emphasizing the following seven key elements: coordination, providing a positive visitor experience, reliable data, nature conservation, skills and quality, increased profitability and a better distribution of tourists. The goal is to ensure that tourism in Iceland becomes exemplary and to firmly establish the country as an attractive and sustainable destination for tourists in harmony with the landscape and its people. A Tourism Task Force was established on the basis of the Road Map with a lifetime of five years, from late 2015 until the end of 2020

11. Mar 2026Ministry of Industries, Business and Industry

Restrictions on investments by non-residents in Iceland

Restrictions on investments by non-residents in Iceland Ministry of Industries Non-residents are permitted to invest in business enterprises in Iceland within the limitations stipulated in Article 4 of the Act No 34/1991. Article 4 Investment by non-residents in Iceland is subject to the following restrictions: Only the following may conduct fishing operations within the Icelandic fisheries jurisdiction according to existing laws on Fishing Rights within the Icelandic Territorial Waters, or own or run enterprises engaged in fish processing: 1

11. Mar 2026Ministry of Industries, Business and Industry

The EEA Agreement

The EEA Agreement Ministry of Industries Iceland is a member of the European Economic Area. The Agreement on the European Economic Area, which entered into force on 1 January 1994, brings together the Member States of the European Union (EU) and the three EEA EFTA States — Iceland, Liechtenstein and Norway — in a single market, referred to as the "Internal Market". The EEA Agreement provides for the inclusion of EU legislation covering the four freedoms — the free movement of goods, services, persons and capital — throughout the 31 EEA States

11. Mar 2026Ministry of Industries, Business and Industry

International policy

International policy Ministry of Industries The international policy of Iceland is supported by two key pillars. Firstly, the United Nations Convention on the Law of the Sea (UNCLOS) and secondly, the principle of sustainable development, enshrined at the 1992 United Nations Conference on Environment and Development in Rio. This is further supported by the view that responsibility for the conservation and utilisation of marine ecosystems should primarily be with States whose greatest interests are directly at stake

10. Mar 2026Ministry of Industries, Business and Industry

Licences and home sharing

Licences and home sharing Ministry of Industries According to the Tourism Administration Act, no. 73/2005, it is the task of the Icelandic Tourist Board to issue licences and register operations for travel agencies, tour operators, booking services and information centers, and monitor these activities in order to ensure that requirements for operations are met. According to the Act on Restaurants, Accommodation and Festivities, no

09. Mar 2026Ministry of Industries, Prime Ministers Office, Natural Resources

Natural resources

Natural resources Ministry of Industries Ministry of the Environment, Energy and Climate Prime Ministers Office Iceland is rich in natural resources, which provide to a significant extent the basis for the Icelandic society and economy. Knowledge of the nature and situation of resources at all times is of key importance for ensuring their sustainable utilization. To this end the government has enacted a variety of legislation which is intended to secure their sustainable utilization and operates institutions whose primary role is to gather data on and assess the current situation of the country's natural resources and advise the government on their development and exploitation

09. Mar 2026Ministry of Industries, Business and Industry

Aquaculture

Aquaculture Ministry of Industries History of Aquaculture Initially based on the on-rearing of salmonids for release into rivers, aquaculture efforts in Iceland gradually developed into larger-scale rearing of fish for the consumer market. While the history of fish farming in Iceland stretches back more than a century, the industry has until recently been struggling in finding its way forward. The first aquaculture experiments in Iceland began in the 1950s in small ponds and land based tanks as well as experiments with ocean ranching of Atlantic salmon

09. Mar 2026Ministry of Industries, Business and Industry

Processing and products

Processing and products Ministry of Industries Advances in production Fishery products and processing methods in Iceland were developed from a practical point of view: How to preserve the landed catch, given the local conditions. Thus, drying, curing (such as shark), smoking and later salting became the traditional way of preserving the catch. The key production processes of today are: freezing, salting, drying, reduction (fish meal and fish oil), canned products and fresh products

06. Mar 2026Economic affairs and public finances, Ministry of Finance and Economic Affairs, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Outlook Revised To Positive On Strengthening Fiscal Position; 'A+/A-1' Ratings Affirmed

On March 6, 2026, S&P Global Ratings revised the outlook on its long-term ratings on Iceland to positive from stable. At the same time, the long- and short-term foreign and local currency sovereign credit ratings were affirmed at 'A+/A-1'.

25. Feb 2026Legislation, Acts of Parliament, Ministry of Industries

Act No 50/2007 respecting Partherships

25 February 2026 / Ministry of Industries Act No 50/2007 respecting Partherships Act No 50/2007 respecting Partherships. Tags Acts of Parliament Ministry of Industries Go back Disclaimer: This section of the site details available translations on legislation relating to the Government Offices in Iceland. In case of any discrepancies between the translations and the original text in Icelandic, the original text as published in the Icelandic Legal Gazette prevails

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Fitch Upgrades Iceland to ‘A+’; Outlook Stable; Withdraws Ratings

Fitch Ratings has upgraded Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘A+’ from ‘A’. The Outlook is Stable. Fitch Ratings has subsequently withdrawn all ratings.

06. Feb 2026Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland reduces the number of solicited credit ratings

The Republic of Iceland has solicited credit ratings from three credit rating agencies: Fitch Ratings, Moody’s Ratings and S&P Global Ratings.

29. Dec 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

New Medium–Term Debt Management Strategy through 2030

The Ministry of Finance and Economic Affairs has published its Medium-Term Debt Management Strategy (MTDS) for 2026–2030. The MTDS describes arrangements for Treasury debt financing over the period and sets forth targets and criteria for the implementation of debt management.

14. Oct 2025Ministry of Finance and Economic Affairs, Economic affairs and public finances, Ministry of Culture٫ Innovation and Higher Education, Ministry of Industries, Ministry of Justice, Ministry of Infrastructure, Prime Ministers Office, Ministry of Health, Ministry of Social Affairs and Housing, Ministry of Education and Children

Iceland Publishes Its First Impact and Allocation Report on Green and Sustainable Financing

The Government of Iceland has released its first Impact and Allocation Report, detailing the use of proceeds and environmental benefits of the country’s green and sustainable bond issuances.

09. Aug 2024Reports, Ministry of Health, Ministry of the Environment, Energy and Climate, Ministry of Industries

National Action Plan (NAP) on Antimicrobial Resistance 2025-2029

09 August 2024 / Ministry of Health Ministry of the Environment, Energy and Climate Ministry of Industries National Action Plan (NAP) on Antimicrobial Resistance 2025-2029 National Action Plan (NAP) on Antimicrobial Resistance 2025-2029 Tags Ministry of Health Ministry of the Environment, Energy and Climate Ministry of Industries Go back

31. Aug 2023Ministry of Industries

Stricter conditions and increased supervision a precondition for continuing hunting of fin whales

Today, Minister of Food, Agriculture and Fisheries Svandís Svavarsdóttir will issue a new Regulation intended to improve the framework for the hunting of fin whales. The Regulation comes in response to the results of the Icelandic Food and Veterinary Authority’s 2022 control report on the hunting of fin whales, the opinion of the Animal Welfare Advisory Board and the report by a working group on the evaluation of ways to decrease the number of irregularities involved.

01. Dec 2022Legislation, Business and Industry, Acts of Parliament, Ministry of Industries

Act No 82/2019 on the registration of beneficial owners

01 December 2022 / Ministry of Industries Act No 82/2019 on the registration of beneficial owners Act No 82-2019 on the registration of beneficial owners Tags Business and Industry Acts of Parliament Ministry of Industries Go back Disclaimer: This section of the site details available translations on legislation relating to the Government Offices in Iceland. In case of any discrepancies between the translations and the original text in Icelandic, the original text as published in the Icelandic Legal Gazette prevails

01. Dec 2022Legislation, Business and Industry, Acts of Parliament, Ministry of Industries

Act on annual accounts

01 December 2022 / Ministry of Industries Act on annual accounts Disclaimer: This section of the site details available translations on legislation relating to the Government Offices in Iceland. In the event of any discrepancies between the translations and the original texts in Icelandic, the original texts, as published in the Icelandic Official Gazette, shall prevail. Act on annual accounts 2006 No

14. Feb 2022Ministry of Industries, Fisheries

Norwegian capelin fisheries in Icelandic waters

The current Framework Agreement between Greenland/Denmark, Iceland and Norway on the conservation and management of capelin is from 2018. The parties meet annually for a coastal State consultation and adopt an Agreed Record for each fishing season. This agreement also has bilateral annexes between the parties and Annex III describes the measures for access and technical conditions in the capelin fisheries between Iceland and Norway. Different annexes have different elements. Technical conditions for Greenlandic and Faroese vessels in the capelin fisheries are subject to bilateral agreements between Iceland and Greenland and Iceland and the Faroe Islands.

25. Nov 2021Legislation, Acts of Parliament, Ministry of Industries

Act No 110/2021 on Non Profit Organisations

25 November 2021 / Ministry of Industries Act No 110/2021 on Non Profit Organisations Act No 110/2021 on Non Profit Organisations. Tags Acts of Parliament Ministry of Industries Go back Disclaimer: This section of the site details available translations on legislation relating to the Government Offices in Iceland. In case of any discrepancies between the translations and the original text in Icelandic, the original text as published in the Icelandic Legal Gazette prevails