Domestic new investment is unrestricted to both resident and non-resident investors.
New investment is defined as an investment made after 31 October 2009 using a new inflow of foreign currency which is converted into domestic currency by a financial institution in this country.
The Central Bank of Iceland must be notified of the currency transaction within three weeks of the Icelandic krónur being bought. The Central Bank of Iceland must also be notified when a new investment is exited.
Arion Bank provides assistance on notifications of new investment and exiting new investments to the Central Bank of Iceland.
The Central Bank of Iceland’s rules on reserve requirements must be observed in respect of new investments.