In as much as the foreigner seeking to take up any employment or transfer an employee to Iceland, he or she requires any of the many visas and work permits. The moment you have employees who by chance reside in Iceland you will be forced to fulfil all the legal requisites of international employment. Hence as an employer, you will be under obligation to pay all the taxes and all the labor laws. One of them is to communicate with an employer of record service that is an outsourcing company for the recruitment of international employees such as Remote. Therefore, work immigration to Iceland could be relevant since Iceland is known for its beautiful scenery and free economy.
A roadmap to navigate business immigration options in Iceland
The following is a guide on how to go about searching for the best business immigration opportunities in Iceland
Visa options
Iceland, a member of the Schengen Area, offers several visa options for aspiring work immigrants: Like in any other Schengen state, there are several kinds of visas for business immigrants in Iceland.
Schengen Business Visa (C visa)
It also provides a chance for one to make a Business working tour to the country for a few days. Probably to attend a business meeting or a work forum. As a result, the validity of the claims is 90/180.
Long-Term Business Visa (D visa)
This visa is for businesspersons who would like to have a long-term permit in Iceland for business such as establishing or operating a work in the country.
Temporary residence permit
This permit enables one to stay longer in the country and is helpful for any businessman in Iceland. It can also help an individual to acquire another form of a more secure form of shelter in the country.
Eligibility for business visas and permits
While specific requirements can vary, here are some general factors considered for work visas and permits. Among the general conditions that may be considered for the business visas and permits include, but are not limited to:
Genuine business plan
You will need to cook up a business plan that defines your business venture, the probability of success, and the likelihood of transforming the economy of Iceland.
Financial resources
Certification of working capital, personal account, and financial proof of the applicant and the project to be financed for the proposed period is compulsory.
Local Investment (optional)
Nevertheless, some of the work visas or permits may permit the applicant to invest in an Icelandic-registered company regardless of the amount.
Application process
The application process typically involves: Depending on the specifics of the grant, the process of applying for them can be summarized as follows:
Contacting the Icelandic Directorate of Immigration
They give the latest information and processes relating to business visas and permits.
Choosing the appropriate Visa
Depending on your company goals and your company’s duration of stay in the country of your choice, choose the appropriate visa.
Gathering required documents
Stack your passport, detailed business plan, proof of funds to be used in the work and any other document that may be required depending on the type of visa to be applied.
Submitting applications and fees
Enclose the other documents that you have filled in the application form together with the other documents and the processing fees and send the application to the Icelandic Directorate of Immigration.
Interview (Possible)
Sometimes, you will be required to attend an interview with the authorities to confirm your employment purpose and proposal.
Additional considerations
Consider the following:
Business environment
Research the legal structures of the Iceland business environment which may include the laws and regulations and any other factor that would affect your business.
Local support
It is advised that one liaises with an Icelandic lawyer or a work consultant on issues to do with legal formalities and outlook to some business practices.
Icelandic Language
Even though English is used in business and official contexts, Icelandic is used. Hence, it is rather useful to memorize some basic phrases for integration, especially for the one who plans to stay in the country for some time.
Iceland and Golden Visas
To the difference of some of the European countries, Iceland has not implemented a program on the granting of a ‘Golden Visa’ related to the purchase of real estate or otherwise. However, the investment path is still useful to get a business visa or a residence permit, if the business plan implies a large investment in Iceland.
Conclusion
Thus, business immigration could be rather complex. It is always wise to search for the services of an immigration lawyer with an understanding of Icelandic immigration laws that will help him/her in the immigration process.
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