> ## Documentation Index > Fetch the complete documentation index at: https://v2.docs.conduit.financial/llms.txt > Use this file to discover all available pages before exploring further. # Iceland > How to collect KYB documents from business customers in Iceland (ISL) when onboarding through the Conduit API. ## Overview | Field | Value | | ------------ | ---------- | | Region | Europe | | ISO 3166-1 | IS / ISL | | Registry | Skatturinn | | Last updated | 2026-05-06 | ## Identifiers Collect two identifiers from each business customer in Iceland and submit them as strings on the application body. | API field | Local name | Issuer | | ------------------------------- | ------------- | ---------- | | `businessInfo.taxId` | **Kennitala** | Skatturinn | | `businessInfo.businessEntityId` | **Kennitala** | Skatturinn | *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. ## Sector regulators `Seðlabanki Íslands` ## Legal structures | Local name | Abbreviation | Description | | --------------------- | ------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | Einkahlutafélag | ehf. | Private limited company; minimum ISK 500,000 share capital; most common SME vehicle; governed by Act No. 138/1994. Equivalent to a US LLC. | | Hlutafélag | hf. | Public limited company; minimum ISK 4,000,000 share capital; at least two shareholders; freely transferable shares; can list on exchange; governed by Act No. 2/1995. Closest US equivalent: C-Corp. | | Sameignarfélag | sf. | General partnership; all partners bear unlimited joint and several liability for company obligations; separate legal personality upon registration. Equivalent to a US General Partnership (GP). | | Samlagsfélag | slf. | Limited partnership; at least one general partner with unlimited liability and one or more limited partners whose liability is capped at their contribution; governed by Act No. 90/1994. Equivalent to a US Limited Partnership (LP). | | Einstaklingsfyrirtæki | — | Sole proprietorship; a single natural person trading under their own kennitala; no separate legal personality and owner bears unlimited personal liability. Equivalent to a US Sole Proprietorship. | | Samvinnufélag | svf. | Cooperative society; member-owned entity formed for mutual economic benefit; registered with Fyrirtækjaskrá and subject to cooperative-specific legislation. Closest US equivalent: Cooperative. | | Sjálfseignarstofnun | — | Independent foundation (endowment); assets dedicated to a stated purpose with no external owners; governed by Act No. 19/1988. Closest US equivalent: Nonprofit Corporation / Foundation. | | Útibú erlends félags | — | Registered branch of a foreign company; not a separate legal entity — the foreign parent retains full liability; registered with Skatturinn/Fyrirtækjaskrá under the parent's name plus 'branch in Iceland'. Closest US equivalent: Branch/Rep Office. | ## 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. | Evidence area | Documents needed | | ---------------------- | -------------------------------------------------------- | | Legal Registration | Skráningarskírteini | | Constitutive Documents | *All required:* Samþykktir + Stofnskjal | | Tax Registration | *All required:* Kennitala confirmation + VSK-skírteini | | Operating Permit | Starfsleyfi | | Ownership Records | Hluthafaskrá | | Governance Records | *Any one of:* Stjórnarmenn · Fyrirsvarsmenn extract | | Signing Authority | *Any one of:* Samþykki stjórnar · Prókúra | | Address | *Any one of:* Leigusamningur · Reikningur · Bankayfirlit | | Good Standing | Skráningarskírteini | ## 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. | Document | Proves | | ------------------------------------------------ | --------------------------------------------------------------- | | **Skráningarskírteini (Fyrirtækjaskrá extract)** | Legal Registration, Good Standing | | **Samþykktir (Articles of Association)** | Constitutive Documents | | **Stofnskjal (Memorandum of Association)** | Constitutive Documents | | **Kennitala confirmation** | Tax Registration | | **VSK-skírteini (VAT certificate)** | Tax Registration | | **Starfsleyfi (operating permit)** | Operating Permit | | **Hluthafaskrá (shareholders' register)** | Ownership Records | | **Stjórnarmenn** | Governance Records | | **Fyrirsvarsmenn extract (Fyrirtækjaskrá)** | Governance Records | | **Samþykki stjórnar (board resolution)** | Signing Authority | | **Prókúra (commercial power of attorney)** | Signing Authority | | **Leigusamningur** | Address | | **Reikningur (≤90 dagar)** | Address | | **Bankayfirlit (≤90 dagar)** | Address | | **Sector-Specific License** | Starfsleyfi, Seðlabanka leyfi (Central Bank of Iceland licence) | ### 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. ## 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. | Local role | Canonical API role | Description | | ------------------------------------------ | ---------------------- | ----------------------------------------------------------------------------------------------- | | Stjórnarmaður (board member) | `CONTROLLING_PERSON` | Member of the board of directors; governance role; registered in Fyrirtækjaskrá. | | Formaður stjórnar (board chair) | `CONTROLLING_PERSON` | Chair of the board; governance/oversight; no day-to-day operational authority. | | Framkvæmdastjóri (managing director / CEO) | `CONTROLLING_PERSON` | Operational head; day-to-day management; mandatory in hf., optional in small ehf. | | Prókúruhafi (procuration holder) | `LEGAL_REPRESENTATIVE` | Holder of registered Prókúra; broad commercial signing authority; registered in Fyrirtækjaskrá. | | Umboðsmaður (POA holder) | `LEGAL_REPRESENTATIVE` | Holder of notarised power of attorney; scope defined by instrument. | ## 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.