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Services · Personal accounts

Personal accounts: Iceland

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Personal account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Company formation · Business account · Investment property · Country taxes · All country programs

FAQ

Can a non-resident open a bank account in Iceland?
In practice it is difficult. Banks are geared to people living or working in the country and almost always want a branch visit and a local ID number. Without a job, studies, property or family in Iceland an application is likely to fail.
What is a kennitala and do I need one for a bank account?
The kennitala is the national ID number used for nearly everything in Iceland, banking included. It is issued when you register your residence, and a limited purpose number exists for specific cases. Without a number you will not get an ordinary account.
Can I open an Icelandic bank account remotely?
For a non-resident, rarely. Identification is normally done in person at a branch, and the electronic ID tools are designed for people living there. Plan a trip and confirm the document list with the bank in advance.
Does Iceland take part in tax information exchange?
Yes, Iceland applies CRS and FATCA, so non-resident account data is sent to your country of tax residence. The crisis era capital controls are gone, but banks look closely at large incoming transfers. Be ready to document where the money came from.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your chances with specific banks, prepare your documents and give you honest timelines. Leave your details and a personal banking expert will get back to you. The first consultation is free.

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