Regional Intelligence
Iceland
The Nordics' smallest market, with no wealth tax, a 20% corporate rate and a financial supervisor housed within the central bank.
Family offices
Not separately reported
Avg AUM
Not separately reported
Regulatory body
Central Bank of Iceland (financial supervision)
Tax environment
No net wealth tax; corporate tax 20%; individual capital income tax 22%.
Introduction
Iceland is the smallest Nordic family office market. Private wealth is tied to fisheries, energy, tourism and finance, and professional family office infrastructure is limited, so families often rely on local banks, law firms and advisers elsewhere in the Nordics.
Key Numbers
Corporate tax rate20%
Individual capital income tax22%
Net wealth taxNone
Evaluation
Iceland currently levies no net wealth tax, having abolished an emergency wealth tax that ran from 2010 to 2013. Corporate income tax is 20% and individual capital income is taxed at 22%. Municipal property tax applies to real estate.
Resources Directory
Key Highlights
No wealth tax
Iceland currently levies no net wealth tax.
Low corporate rate
The 20% corporate rate has been in place since 2011.
Central bank supervision
Financial supervision sits within the Central Bank of Iceland.
Small, networked market
Advisory depth is limited, so families often look abroad.
Frequently Asked Questions
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