Iceland´s positive business environment, low tax rates and efficient infrastructure make the country an ideal candidate for an international finance center according to a new report compiled for the Prime Minister by a team of experts. The team recommended a number of measures and government officials hope that the Parliament will finish the legislative reforms before summer.

Why Iceland?
Iceland does not have a long history as a financial center and is much better known for competitively priced sustainable energy and quality seafood. But extensive reforms, including liberalisation and privatisation, has changed the business environment dramatically during the last decade and Iceland is now recognized as one of Europe's most competitive economies.

Iceland is a modern, growing economy, politically stable and internationally competitive in all the important areas for business operations as confirmed by a number of distinguished comparative studies. The nation is young, educated, multilingual and enjoys high living standards with a thriving cultural scene. The labour market is highly flexible with people willing to adopt new technologies. Iceland´s nature is spectacular and the source of both inspiration and green competitively priced energy.

... that a fast growing number of US and Canadian companies are depending on Iceland as an integrated part of administrating their revenue streams?

... that the distance and flying time from New York to Reykjavik is almost exactly the same as to San Fransisco and 900 miles shorther New York-London?

... that there are daily direct flights to Reykjavik from at least 6 major North American Airports or over flights per week?

... that Iceland´s mid-Atlantic location and tariff free access to the European inner market makes it the ideal gateway to Europe

... that Iceland is one of the fastest growing economies in the world with a growth of 7.5% last year?

... that the Icelandic banks have 7% marketshare of all the International European banks and are able to service international investors in line with best practices?

... that all the major international audit and advisory companies have branches in Iceland; KPMG, PricewaterhouseCoopers, Deloitte, Ernst & Young and Grant Thornton?

... that with a equity market capitalisation of 186% of GDP in 2005 the Icelandic Stock market is one of the strongest in the world in relation to the size of the economy?

Please visit the Invest in Iceland website for a simple comparison of corporate taxes in Iceland and USA, Canada, UK, Japan or India.

For more details download the detailed publication "Tax benefits and other advantages of the Icelandic fiscal system"

Invest in Iceland Agency functions as a one-stop information centre for foreign investors:

• Provides information on investment opportunites in Iceland
• Collects data on the business environment
• Arranges site visits and plans contacts with local authorities
• Arranges meetings with local business partners and professional consultants

E-mail: info@invest.is – Tel.: +354 561 5200 – Fax: +354 511 4040

For further information please visit our website : www.invest.is