Corporate Banking

Legal entities

Legal entities of foreign nationality can establish a business relationship with Landsbankinn in order to make deposits. The processing of applications includes the assessment of the applicant's eligibility, due diligence and the establishment of an Icelandic Reg. No. in the event of transactions being made. Transactions are not made for amounts lower than ISK 2,000,000.

For further information please send an email to

Applications which must be filled out by applicant:

  • Application for a savings or foreign currency account for legal entities (0386), Information for business transactions for legal entities (0061) and Power of Attorney to withdraw funds from the account of a legal entity (0244)
  • Power of Attorney to obtain Icelandic Reg. No. for legal entities (0081)
  • Custody Account Agreement for legal entities (0112)

Other documents which must accompany the application:

  • Original certificate of incorporation or equivalent, e.g. from Registrar of Companies (not older than 2 months)
  • Copies of a valid passport of a director, managing director and persons authorised to sign for the entity, issued by public authorities, such as identification attested by a relevant embassy, notary public or another recognised authority
  • Rules on who is authorised to oblige the legal entity
  • Articles of Association
  • Annual financial statements for the most recent financial year or a bank reference
  • Declaration of intent and scope of business, i.e. proposed deposit amount and term of deposit (minimum initial deposit is ISK 2,000,000)