fyrirtækjalög

Fyrirtækjalög refers to company law in Iceland. It encompasses the legal framework governing the establishment, operation, and dissolution of companies in Iceland. The primary legislation in this area is the Companies Act, which outlines the different types of companies that can be formed, their legal requirements, and the rights and responsibilities of shareholders and directors.

Common forms of companies in Iceland include hlutafélag (PLC - Private Limited Company) and Einkahlutafélag (EHF - Private Limited Company). The Companies Act dictates the minimum share capital requirements for each type, as well as rules regarding registration with the Register of Companies, annual reporting, and the holding of general meetings. The law also addresses issues such as mergers, acquisitions, and insolvency proceedings for companies.

Directors are subject to duties of care and loyalty, and their actions are overseen by shareholders and, in some cases, by auditors. The legal framework aims to ensure transparency, protect creditors, and maintain a stable business environment. Amendments to the Companies Act are periodically made to align Icelandic company law with international standards and to address evolving business practices. Understanding fyrirtækjalög is crucial for anyone looking to establish or invest in a business in Iceland.