European Regulatory Framework and Tariff-Free Access
Iceland is a part of the European Economic Area (EEA). Although Iceland is not a member of the Euroean Union (EU), the EEA Agreement unites member states into one single market governed by the same basic rules: free movement of goods, capital, services and persons, and competition rules.
Iceland is also a member of WTO, OECD and a number of other trade related organizations.
The benefits of the large market of the EU are many, including access to a large number of suppliers, less beurocracy, huge market to sell goods and services in, and harmonized standards.
A company operating in Iceland follows the rules and standards of the EU requirements.
The procedure of building in Iceland has been implemented from the European Union directive on Environmental Impact Assessment (EIA), so the procedure is mainly harmonized.
Fo further information:
Map of the EU/EEA: