THE ART OF BEING LOCAL
IN Iceland

Company formation in Iceland

Iceland is the second largest island state in Europe in terms of area. The main island is the largest volcanic island in the world and is located just south of the Arctic Circle. Iceland is a member of EFTA and the European Economic Area. With its 396,960 inhabitants, Iceland is the most sparsely populated country in Europe and one of the most sparsely populated countries in the world. Over 60 percent of Iceland's population is concentrated in the capital region of Reykjavík. Iceland is one of the leading countries in the world in terms of standard of living and per capita income.

Thorkell Gudjonsson: Experienced executive with a demonstrated history of working in the accounting industry. Skilled in Negotiation, Budgeting, Entrepreneurship, Accounting, and Tax. Strong business development professional with a Cand. oecon focused in Accounting & auditing from Háskóli Íslands. Founder of VIRTUS, now part of ECIT in Iceland which has 110 employees in 15 locations after acquiring accounting and payroll from PwC and KPMG in Iceland in 2024.