According to Icelandic law No. 19/1966, non-EEA citizens and companies are not allowed to acquire ownership or usage rights over real estate in Iceland without prior authorization from the Minister of Justice.
To obtain such an exemption, the applicant must either be legally residing in Iceland or appoint a local representative (agent) who is domiciled in the district where the property rights are to be registered.
At Arnthorsson, we act as local representatives for foreign buyers who wish to purchase land, lots, or real estate in South Iceland.
Contact us if you need assistance with the exemption application or require a local agent in Iceland.
