Questions & Answers

This page contains general information and answers to frequently asked questions on foreign exchange issues.

Further information on foreign exchange matters may be obtained by sending queries to the following e-mail address: cc@cb.is 

Please note that this e-mail address is only to be used for queries about foreign exchange matters. Requests for exemptions from the Foreign Exchange Act, no. 87/1992, must be sent to the Central Bank of Iceland in writing, together with pertinent documentation; cf. the fifth sentence of Article 13(o), Paragraph 1 of Act no. 87/1992.

It is also possible to make telephone queries by calling +354 569 9600 during the Capital Controls Surveillance Unit legal staff members' telephone hours, from 10:00 hrs. to 11:30 hrs. Monday through Friday.

 

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  • Accident benefits or compensatory damages

  • Consolidated entities

  • Cross-border lending and borrowing

  • Cross-border movement of capital

  • Derivatives transactions for planned trade in goods and/or services

  • Direct investment by residents

  • Domestic currency

  • Foreign currency

  • Foreign exchange transactions

  • Cash withdrawals of foreign currency

  • General information on the capital controls

  • Gifts and grants

  • Guarantees

  • Individuals’ living expenses

  • Inheritance

  • Interest

  • Investment in financial instruments issued in foreign currency

  • Legal costs

  • Loan - Amendments to terms and conditions

  • Motor vehicle (transport equipment) purchases

  • Contractual instalments

  • Non-residents

  • Non-resident´s investment in Iceland

  • Prepayment and retirement of obligations

  • Real estate transactions abroad

  • Rental income from real estate in Iceland

  • Repatriation requirements

  • Residents

  • Taxes and public levies

  • Trade in goods and services

  • Trading in derivatives

  • Wages and salaries

  • Dividends

  • Foreign currency purchases and transfers of deposits

  • Importation of foreign currency

  • Loan repayments

  • Transfer of custody of securities issued in foreign currency