Iceland Mag

8 Reykjavik

Iceland Mag

Ask the Expert

How hard is it for foreigners to purchase property in Iceland?

By Sara McMahon

  • Looking to move? Citizens living in member states of the European Economic Area (EEA) may acquire property rights in Iceland without the permission of the Minister of Justice. Photo/Vilhelm Gunnarsson

Q: How hard is it for foreigners to purchase property in Iceland?

A: Citizens living in member states of the European Economic Area (EEA) may acquire property rights in Iceland without the permission of the Minister of Justice. These include; Employees who are citizens of a member state of the EEA and who work as such in Iceland, or have EEA-residence permit; EEA- and EFTA-citizens who have established themselves, or intend to establish themselves, in Iceland in order to engage in independent business operations; EEA- and EFTA-citizens and companies who are domiciled in another member state and have established, or intend to establish, a branch or an agent's office in Iceland, or who intend to render services in Iceland.

Non-EEA citizens must have domicile in Iceland in order to purchase real property in the country and need the minister’s permission. 

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