ANNOUNCEMENT 28 Jan 2012In January 2012, the government of Iceland announced changed rules for foreign investors.
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The Icelandic National Broadcasting Service (speech of the minister available in Icelandic)
On 28 January 2012, the Icelandic Minister of the Interior, Ögmundur Jónasson, announced that he will submit a bill to the government proposing the non eligibility of foreigners to own properties in the country, unless they have a legal domicile there. The new measure would also apply to EEA citizens, who are currently free to acquire property in Iceland.
The measure, if implemented, is expected to have an adverse impact on foreign direct investment in real estate.