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Overview

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Identifiers

Collect two identifiers from each business customer in Iceland and submit them as strings on the application body. Tax ID: 10-digit; format DDMMYY-XXXX; for companies the day component is offset by +40. Serves as both entity ID and tax ID. VSK-númer (5-digit VAT number) issued separately on VAT registration via form RSK 5.02. Registration number: 10-digit; format DDMMYY-XXXX; for companies the day component is offset by +40. Serves as both entity ID and tax ID. VSK-númer (5-digit VAT number) issued separately on VAT registration via form RSK 5.02.

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Sector regulators

Seðlabanki Íslands

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How documents combine

For each evidence area, this table shows whether the listed documents are alternatives (any one of) or a bundle (all required). The artifact-by-artifact lookup follows below.

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Documents to collect

The physical documents you’ll collect from your customer, with the evidence area each one proves. One document can prove multiple areas — for example, Brazil’s Cartão CNPJ covers both tax and business-registration proof, so it appears once with both areas listed.

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Collection notes

  • Legal Registration: Searchable at skatturinn.is/fyrirtaekjaskra/leit/; confirms Kennitala, legal form, address, status.
  • Constitutive Documents: Both required at incorporation; submitted to Skatturinn via forms RSK 17.20 (hf.) / RSK 17.21 (ehf.); must be in Icelandic.
  • Tax Registration: Kennitala is the primary entity/tax ID. VAT certificate issued separately after RSK 5.02 registration; threshold ISK 2,000,000 annual turnover.
  • Operating Permit: Issued by municipality (e.g. Reykjavík Public Health Authority) or sector regulator; required for food service, manufacturing, hospitality. Not all businesses require one — verify per activity.
  • Sector-Specific License: Banks, payment institutions, insurance undertakings, investment firms: licence from Central Bank of Iceland (Seðlabanki) per Act No. 92/2019.
  • Governance Records: Board members and authorised representatives listed in Fyrirtækjaskrá; publicly searchable.
  • Signing Authority: Prókúra granted by board, registered in Fyrirtækjaskrá; prókúruhafi (procuration holder) is the self-evidencing signing authority. Third-party POA via notarised umboðsmaður.
  • Address: Conduit universal policy: lease (no time bound) OR utility bill OR bank statement, with utility/bank dated within 90 days. Same evidence satisfies both registered-address and operating-address checks.
  • Good Standing: Iceland does not issue a separate Certificate of Good Standing; a current Vottorð úr fyrirtækjaskrá (Skráningarskírteini) from Skatturinn — purchasable from the Fyrirtækjaskrá online shop — confirms current registration, Kennitala, legal form, board, and status. Request issuance within 30 days for banking use.

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Person roles

When you submit a person on the application body, set their role to one of Conduit’s canonical BusinessPersonRole values. Use this table to map a local corporate-governance title onto the right canonical role.

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Notes

  • Single identifier: Kennitala serves as both the registry number and the corporate tax ID — collect one certificate; both businessInfo.taxId and businessInfo.businessEntityId take the same value.
  • Act No. 82/2019 uses “at least 25 per cent” — not “more than 25 percent.” A holder of exactly 25% qualifies as a raunverulegur eigandi. Apply this comparator precisely; it is the inclusive boundary, unlike the German/UK models.
  • Kennitala is the single entity identifier — there is no separate company registration number. The same 10-digit number functions as entity ID, tax ID, and registry key. For companies, the day component of the date is offset by +40 (e.g. a company registered on the 5th has “45” as the first two digits).
  • FME no longer exists as a separate authority. The Financial Supervisory Authority merged into the Central Bank of Iceland (Seðlabanki Íslands) on 2020-01-01 per Act No. 92/2019. All financial sector licences and supervisory decisions now issue from the Central Bank.
  • Operating permits (Starfsleyfi) are sector- and municipality-specific — there is no single national general business licence. Many businesses require no operating permit beyond Fyrirtækjaskrá registration; only regulated activities (food, manufacturing, hospitality, healthcare) require a starfsleyfi from the competent authority.