business

Iceland is a modern country with considerably big earnings and strong legal system but at the same time really expensive, therefore is it worth to set up a company in Iceland?

Iceland is expensive. Of course not so much if we live and work there but still. Our situation depends on two factors: where we live and what we do. Naturally, costs of living in Reykjavik are much higher than in smaller towns but so are the salaries. Pattern as everywhere.

Being part of Icelandic labour market is tempting considering high wages but unfortunately it’s mainly reserved for citizens of EU member countries.

Iceland is a tiny island somewhere far away on the Atlantic Ocean close to Greenland . Their consumer market is also really small. And on top of that they have their own national language that almost no one knows. All that doesn’t sound like the best place to do business.