Iceland - Business CustomsIceland - Business Customs
Business Customs
Social and business etiquette in Iceland is similar to that in other western European countries, but there are some noticeable differences.Since Iceland is a small community, access to key people is relatively easy, though it is advisable to schedule appointments in advance. Since even the largest Icelandic corporations are relatively small, you may find the decision-makers in your meeting. Business meetings are usually informal and relaxed, but good preparation is important. Business cards are exchanged upon introduction. Extended small talk is not necessary, and getting straight down to business is appreciated though Icelandic business people can appear willing to spend more time discussing a situation than Americans are used to.
Simultaneous interpretation services are available, but are usually not required unless very detailed or technical work is involved. Most Icelanders doing business in a particular field will understand the relevant English technical vocabulary, but contracts may need to be translated. Icelanders like to combine business with pleasure, so establishing a friendly and personal relationship is a good approach. Business dinners are the preferred form of entertainment. It is considered appropriate to talk business over a meal, unless spouses are present. Icelanders enjoy dressing up and being social. There are no strict rules or formal dining customs that need to be observed. While Americans tend to dress up for work and dress down after work, the opposite is often the case in Iceland, although men in government, banking or business circles generally wear suits. An informal social event such as a business dinner still calls for a jacket and tie. Iceland has cool summers and fairly cold winters, so even in summer, clothing should include a sweater or jacket, a raincoat, and a good pair of walking shoes.
Understanding Icelandic names is important for business and social occasions. Only a small proportion of the population has family surnames, often foreign in origin. Most people have a patronymic, formed from their father’s first name with the ending "–son" or "–dóttir" (e.g. Arnar Jónsson (Arnar is Jon's son) or Anna Jónsdóttir (Anna is Jon's daughter). A woman does not take her husband’s patronymic upon marriage. First names are the names by which people are known, and are thus generally used. Icelandic telephone directories list people in alphabetical order by their first name. Icelanders do not use "Mr." and "Ms." among themselves although they may do so when among foreigners. Icelanders will not feel you are being overly familiar if you call them by their first names.
Travel Advisory
Reykjavík offers a variety of hotel and guesthouse accommodations, many excellent restaurants, cafes, and wide range of cultural attractions. Note that hotel rooms can be difficult to find during the summer tourist season, and that it can be difficult to get a table at the more popular restaurants without an advance booking.
Iceland remains a relatively safe country for visitors. Reykjavík is safer than major cities in the United States although there is occasional street crime, particularly late at night in the city center. Visitors utilizing common sense and good judgment can expect to enjoy their time in Iceland without incidents. Emergency services, including fire, police and ambulance, are available by dialing 112. Emergency service operators speak English.Iceland is home to active volcanoes. If a volcanic eruption occurs while you are in Iceland, you should closely follow any instructions from the local authorities. Be aware that airports in Iceland, including Keflavik International Airport, may need to close in the event of future eruptions. You can find updates on volcanic activity in Iceland though the Icelandic Office of Civil Defense.
State Department Consular Information page for Iceland.
Visa Requirements
U.S. travelers to Iceland must have a valid passport. Iceland is a party to the Schengen agreement. As such, U.S. citizens may enter Iceland for up to 90 days for tourist or business purposes without a visa. The passport should be valid for at least three months beyond the period of stay.
For further information concerning entry requirements for Iceland, travelers can contact The Icelandic Embassy in the U.S. or the Icelandic Directorate of Immigration.Icelandic Embassy, c/o House of Sweden
2900 K Street N.W. #509
Washington DC 20007-1704
Tel: +1 (202) 265 6653.
Web site: http://www.iceland.is/iceland-abroad/embassies
Icelandic Directorate of Immigration
Skógarhlíð 6
105 Reykjavík
Iceland
Tel: +354 510-5400
Web site: http://www.utl.is/
E-mail: utl@utl.is
U.S. Companies that require travel of foreign businesspersons to the United States should be advised that security evaluations are handled via an interagency process. Visa applicants should go to the following links.
State Department Visa Website: https://travel.state.gov/content/visas/en.html
The Consular Section of the Reykjavík Embassy: https://is.usembassy.gov/
Currency
The local currency is the Icelandic Krona. It is advisable to exchange ISK back into other foreign currency before departure from Iceland as the ISK is not exchangeable outside IcelandCurrency. The local currency is the Icelandic Krona. It is advisable to exchange ISK back into other foreign currency before departure from Iceland as the ISK is not exchangeable outside Iceland.Access to ATM is widely available.
VISA and Mastercard credit cards are widely accepted, but American Express is not accepted at all stores.Telecommunications/Electronics
Telecommunication services are modern and readily available. High speed internet connections are available at all business hotels, and prepaid SIM-cards are also widely available. Both 3G and 4G are available and the local cellphone companies have roaming contracts with all the major international cellphone companies.
All electric appliances run at 220volts and sockets are European standard. Convertors for U.S. to European sockets are readily available at hardware stores in Iceland and are also sold at the duty free store upon arrival to Keflavik airport.
Transportation
Three airlines fly between Iceland and the United States. Icelandair (www.icelandair.com) destinations include Boston, Washington DC, Minneapolis, Denver, Seattle, Portland Oregon, Chicago, Anchorage, Orlando, New York, Philadelphia, and Tampa. Delta airlines (www.delta.com) flies to and from New York all year around and to Minniapolis during the summer. WOW Air (www.wowair.is) lies to Boston, San Francisco, Los Angeles, Washington DC, Chicago, Miami, New York, and Pittsburgh. Travelers can take Fly Bus (https://www.re.is/flybus/) or Airport Express (airportexpress.is/) from Keflavik Airport to their hotel destination. A return bus ticket costs about $50 and takes about 50-75 minutes from the airport to your hotel. Private taxis are also available at the airport, but are significantly more expensive. Reykjavik’s public transportation system consists of buses running to all areas of the city. Local cabs are readily available at taxi stands throughout the downtown area or by telephone. Prices depend on the length of journey and the time of day. No tipping is required. Rental cars are available at the airport and in Reykjavík, but are expensive. Gasoline costs about $6.00 per gallon.
Language
There is virtually no language barrier for U.S. visitors to Iceland. Icelandic business executives and government officials are fluent in English and almost all Icelanders speak English to some degree.
Health
A visitor to Iceland faces no special health risks as the overall health conditions are excellent. No special inoculations are required. All milk and tap water is safe to drink. Since Iceland is entirely surrounded by the ocean, it has a fairly moderate, maritime climate year round. Diagnostic laboratories and specialists in all fields of medicine are available, though there may be a wait time to see certain specialists. Hospitals are well-equipped, and maternity hospitals and clinics are available. Most doctors and dentists speak English. Tourists should expect to pay for services provided at time of service. Most medicines are available locally. They may not, however, be the same brand names as those used in the United States and prices are generally higher than in the United States. Tourists should bring a supply of any medicine that they know they will need. In case of medical emergency, dial 112.
Local Time, Business Hours and Holidays
Icelandic work schedules are similar to those in the United States although many offices close early in the summer. Business activity slows down considerably from mid-June through mid-August as Icelanders take their summer holidays. Other slow times of year are the Christmas season and the weeks before and after Easter in the spring.
Office hours: 9 am – 5 pm. Business hours for stores are from 10-18.
There are an increasing number of grocery and convenience stores that are open 24/7.
Temporary Entry of Materials or Personal Belongings
There are no restrictions on entry or exit of personal computers or laptops, software, or encrypted data. Commercial samples and exhibit items may be subject to customs duty. Samples may be imported into Iceland duty-free if they are of little or no commercial value, or have been made unfit for use. Otherwise samples will be subject to duty. See more under Chapter 5, Customs Regulations.
Travel Related Web Resources
Airport Express (https://airportexpress.is/)
Delta Airlines (www.delta.com/)
Flybus (https://www.re.is/flybus/)
Iceland Naturally (www.icelandnaturally.com)
Icelandair (www.icelandair.com)
Icelandic Directorate of Immigration (www.utl.is)
Icelandic Embassy to the U.S (http://www.iceland.is/iceland-abroad/)
Icelandic Tourist Board (www.ferdamalastofa.is/)
State Department Visa Website (travel.state.gov/)
U.S. Embassy in Iceland (https://is.usembassy.gov/)
Visit Reykjavík (http://www.visitreykjavik.is/)
Wow Air (www.wow.is)