If you are from outside the EEA, you are subject to strict regulations under Act No. 19/1966. To own property, you must obtain a formal exemption from the Icelandic Ministry of Justice .
The Ministry generally only grants these exemptions if you have a to the country (like marriage to an Icelander or long-term established residency) or if you are using the property directly for commercial or professional activities (like operating a guesthouse). buy house iceland
Foreign Nationals' Real Property Rights - Government of Iceland If you are from outside the EEA, you
Before you can complete any transaction in Iceland, you must obtain a —a national identification number. This number is required to open a bank account, secure a mortgage, and register a property title. You can apply for one through the official portal at Registers Iceland. 2. Request Ministry Permission (If Required) The Ministry generally only grants these exemptions if
Once you find the right place, you will submit a formal written offer. If accepted, you and the seller will sign a purchase agreement ( kaupsamningur ). At this stage, you will pay a deposit (usually 10% to 20%). 5. Finalize and Register