Iceland 1930

Bibliographic data

Monograph

Identifikator:: 1830571079

URN:: urn:nbn:de:zbw-retromon-221162

Document type:: Monograph

Title:: Iceland 1930

Edition:: 2. ed.

Place of publication:: Reykjavík

Publisher:: Ríkisprentsmiđjan Gutenberg

Year of publication:: 1930

Scope:: 193 S.; Tab., Kt., Taf.

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Foreigners in Iceland

Collection:: Economics Books

165 Patents. Foreigners and Icelanders enjoy the same right as regards aking out patents for their inventions (Act No. 12, June 20th, 1923). THE RIGHTS OF FOREIGN COMPANIES AND OF COMPANIES EMPLOYING FOREIGN CAPITAL In cases where the right of a person to follow a trade or pursuit in Iceland, to own real estate there, or enjoy other privileges, is made conditional on domiciliation, — a company, in order to acquire the same right, must, besides complying with the above stipulation, have a venue in Iceland, and all its directors are generally required to be domiciled there. In joint stock companies, engaging in commerce, in- dustrial activities or trade, more than half the share capital must be in the hands of persons residing in Iceland. None but Icelandic sub- jects may be the founders of companies purposing to carry on fish- curing business in territorial waters; and in the case of a company intending to pursue fishing inside the limits, more than half the shares shall be held by Icelandic subjects. A foreign joint stock company, which, though domiciled abroad, has the right to engage in activities in Iceland, requires registration ere it can commence operations there. But before such a company can be filed in the Companies’ Registry, certificates must be produced to show ‘hat it has observed the provisions of the laws by which such companies are governed in their home country. In all its dealings the company shall be guided by Icelandic law to which, if necessary, it may be made a menable. Further, the company is required to engage the ser- vices of some person entitled to carry on the same kind of business that the company itself intends to start. In addition to this, it must own a property in Iceland to the value of at least 10 000 krénur, as securi- ty for any engagements it mav make in the country (Act No. 77, June 27th 1921). FOREIGNERS’ LIABILITY TO TAXATION IN ICELAND Foreigners residing in Iceland are liable to be taxed according io the same rules as apply to Icelanders. On the other hand, non- residents, foreign or native, are faxed by the State on income derived rom capital owned or business done in Iceland; on salary or other income of similar nature received from the State or any public insti- ‘ution; and on dividend paid on shares held in Icelandic joint stock ompanies or other business enterprises. A further tax is pavable to

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