Announcement
21 Oct 2016
On 21 October 2016, the Icelandic parliament passed amendments to its Foreign Exchange Act.
Source
Sign in to access
Number of interventions
4
1 certainly harmful
0 likely harmful
3 liberalising
List of interventions
Implementation date
01 Jan 2017
Revocation date:
No revocation date
Updated: 21 Oct 2016
Controls on commercial transactions and investment instruments
In force
Starting in 2017, the trade in securities will be largely liberalised. Foreign securities investments will no longer require domestic custody and the transfer of custody of securities will be eased...
Sign in to see more
Implementation date
21 Oct 2016
Revocation date:
No revocation date
Updated: 21 Oct 2016
Repatriation & surrender requirements
In force
Furthermore, the amendment scraps the repatriation requirement for foreign currency related to "loans taken abroad by individuals for the purchase of real estate or motor vehicles/transport equipme...
Sign in to see more
Updated: 21 Oct 2016
FDI: Entry and ownership rule
In force
The amendment removes all foreign ownership caps on foreign direct investments.
Sign in to see more
Implementation date
21 Oct 2016
Revocation date:
No revocation date
Updated: 21 Oct 2016
FDI: Entry and ownership rule
In force
At the same time, the amendment introduces the requirement that any foreign direct investment will previously require a confirmation by the Central Bank of Iceland.
Sign in to see more
Threads
See all
This state act is not part of any Thread yet.