Iceland

Iceland

Liberalization of capital control on Krona-denominated assets

01 Jan 2017

The Icelandic Parliament passed a Law removing capital controls on households and businesses. Among the measures that entered into force on 1 January 2017 are: (1) Foreign outward direct investment is unrestricted but subject to confirmation by the Central Bank of Iceland; (2) Individuals are permitted to purchase one piece of real estate per year.