The Útlendingur’s Guide To Getting Shit Done: Start An EHF

So you’ve been gigging, freelancing and contracting and figure there’s got to be a more professional way to organise yourself — not to mention a slightly more lucrative way to manage your salary and taxation. Consider establishing an einkahlutafélag, or ehf.

We turned to accountant extraordinaire Jóel Kristinsson, owner operator of Bókarinn þinn í Skýinu, for the step by step of registering a new private limited company.

The first must have is a kennitala. If you’re an Icelandic resident or citizen, you’ve already got that 10-digit number. The second must have is your rafræn skilríki (electronic ID) to log into your account on RSK.is. From there, it’s just as easy as clicking “Almennt” (general) in the main menu, followed by “Nýskráning” (new registration) under the “Fyrirtækjaskrá” (company registry) heading.

Finally, click “Stofna nýtt einkahlutafélag” (create a new private limited company), fill in all the required information — including the name of your company, the type of business it’ll conduct, the chairman of the board and the responsible accountant — as well as supplementary form RSK 17.27. Once all the paperwork is in order, you’ll receive a bill for 140.500 kr to your personal online banking account to cover the registration fees and your company’s new kennitala.

And bingó! You’re free to rack up debt and swap kennitalas like a real Icelandic business owner — just kidding, only massive assholes do that.

Get more done with our Do Shit series. Follow along here.