Investing in Iceland? – We support your business activities with professional translations
Iceland is the Earth's largest volcanic island with an area of about 64,000 square miles. It can be counted as part of Scandinavia if you interpret the term loosely. Like the other Nordic countries, Iceland has a high per capita income and is one of the most developed countries of the planet.
However, the Icelandic sector came under pressure in the wake of the financial and economic crisis of 2008. Unlike other countries, this island nation refused to bail out the affected banks – at the expense of international investors. So, when making investments in Iceland, it’s wise to proceed with caution.
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Natural wealth in the farthest reaches of North Europe
Iceland’s greatest economic sector has already been around for many centuries: Fishing is incredibly important for this small country. The sector in its entirety makes up over 40% of Icelandic exports and consists of the fish processing industry, as well as the production and maintenance of fishing equipment. The industry employs up to 20% of the working population.
Another export is aluminum, as this small island is one of the largest producers worldwide. This energy-intensive industry is only possible because Iceland has better conditions for harnessing renewable energy than any other country. With geothermal energy being used for heating, electricity is generated by hydroelectric plants. Iceland is currently examining the possibility of exporting electricity through underwater cables that would allow for a very interesting investment opportunity.
Instant quoteIf you’re also thinking about investing in Iceland, we’re glad to assist you with professional translations into and from Icelandic. Your business partners and clients will be impressed by your appreciation for their culture and language.
The Icelandic language
Icelandic belongs to the Germanic language family and is of high interest to linguists, given that after the island was settled, the language was able to develop in a relatively isolated manner. It still shares strong similarities to Old Norse, which is an extinct Nordic language.
Although almost all Icelanders speak excellent English, a translator is recommended for contracts and other important documents. If you’re interested in investing in the far North, get into contact with us for translation support.
Contact our project managers for more information, or send us your text using the form or via email.
| United Kingdom | Doing business in Iceland |
| Österreich | Geschäftstätigkeiten in Island |
| Schweiz | Geschäftstätigkeiten in Island |
| United States | Doing Business in Iceland |
| France | Faire du business en Islande |
| Nederland | Zakendoen in IJsland |
| Deutschland | Geschäftstätigkeiten in Island |