ORGANIZACIÓN MUNDIAL
DEL COMERCIOS/DCS/W/ISL/Rev.1
11 de abril de 2003
(03-1995)
Comercio de Servicios Original:  inglés
ISLANDIA
Proyecto de lista refundida de compromisos específicos1
Revisión
El documento adjunto contiene una versión revisada del proyecto de la lista refundida de
compromisos específicos de Islandia, en formato Word.  Este documento no sustituye los
compromisos jurídicamente vinculantes contraídos por Islandia en su Lista de compromisos
específicos (GATS/SC/41;  S/L/29; GAT S/SC/41/Suppl.1; GATS/SC/41/Suppl.2).
Adjunta al proyecto revisado de lista refundida figura la Lista de exenciones del artículo II
(NMF) de Islandia (GATS/EL/41), en formato Word.
El proyecto revisado de la lista refundida y la Lista de exenciones del trato NMF fueron
preparados por la Secretaría, a petición de los Miembros, para facilitar el proceso de las
negociaciones, incluida la presentación de ofertas iniciales.
El documento revisado contiene correcciones a la anotación relativa a los servicios siguientes:
• 1. BUSINESS SERVICES;  A. Professional Services;  i) Veterinary Services:
en la columna Limitations on National Treatment, la anotación correcta para los
modos 3 y 4 es "Ability in the Icelandi c language required" en lugar de "None"
                                                     
1 El presente documento se ha preparado, en inglés solamente, bajo la responsabilidad de la Secretaría
y sin perjuicio de las posiciones de los Miembros ni de sus derechos y obligaciones en el marco de la OMC.S/DCS/W/ISL/Rev.1
Página 2ICELAND – SCHEDULE OF SPECIFIC COMMITMENTS
Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
I. HORIZONTAL COMMITMENTS
ALL SECTORS 
INCLUDED IN THIS SCHEDULE
3) All foreign investment and currency transfers
must be reported to the Central Bank ofIceland
Investment by non-residents in the
manufacturing industry, other than power-
intensive industry, trade services,
communications and fish farming may notexceed 25% of the total investment of therelevant sector without special permission. Total investment by a non-resident or the jointinvestment of financially related non-residents
in enterprises in the above-mentioned sectors
may not exceed 250 mill. ISK within a yearunless a special concession is given.3) Treatment accorded to subsidiaries of third-
country companies formed  in accordance withthe law of an EEA Member State and havingtheir registered office, central administration orprincipal place of business within an EEAMember State may not be extended to branches
or agencies established in an EEA Member
State by a third-country company
Treatment less favourable may be accorded to
subsidiaries of a third-country company formedin accordance with the law of an EEA Member
State having only their registered office in the
territory of an EEA Member State unless theyshow that they possess an effective andcontinuous link with the economy of one of theEEA Member States
All foreign investment of a Foreign State or
companies/organizations owned by a Foreign
State requires a special concession of theMinistry of CommerceManagers and the majority of the members of
the board of directors in all domestic enterprisesmust be  domiciled in Iceland unless exemptedfrom this requirement by the Ministry ofCommerce
Non-residents cannot conclude an agreementon real-estate lease without the permission ofthe Ministry of Justice if the lease is for aperiod exceeding three years and not for use inconducting its normal business activitiesAt least one of the auditors of an Icelandic
limited liability company must be a resident inIceland or a competent resident CPA companyS/DCS/W/ISL/Rev.1
Página 3Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Non-residents may only acquire real estate in
conjunction to their business activities and canonly obtain ordinary proprietary rights linkedto the real estate
Non-residents are thus excluded from
obtaining full property rights of real estate ifunusual rights are linked to it, such asexploitation rights as regards waterfalls,
geothermal energy, etc
Contracts concerning ownership and long-
term use of real-estate by non-residents are notvalid until the Ministry of Justice has endorsedit in writing
Non-residents, natural as well as legal
persons, involved in trade in goods or rental ofvideos, need a trade permit but such regulatedtrade licences are required  for both Icelandicand non-resident providers of service
All provision of services by natural persons,as self-employed or taking part in a businessenterprise with unlimited liability, needs aconcession, by the Ministry of Commerce, ifthe persons involved are non-residentsS/DCS/W/ISL/Rev.1
Página 4Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Movement of Personnel
Temporary entry of service providers
4) Unbound except the temporary entry of the
following service providers as intra-corporatetransferees, which Iceland shall permitwithout requiring compliance with labour
market tests:
Executives:  persons who primarily direct the
management of the organization covered by
the agreement and establish its goals andgenerally have a wide decision-making
authority. Executives would not necessarily
perform tasks related to the actual provision ofthe service.Movement of Personnel
Temporary entry of service providers
4) None for the categories offered under market
access
Managers:  persons who direct the
Organization covered by the agreement or itsdepartment and are in a senior level
responsible of the service providing functions
of the organization by supervising andcontrolling and having also authority to hireand fire personnel or recommend such andother personnel actions.
Specialists:  persons within the organization
who possess knowledge at an advanced levelof expertise or otherwise essential orproprietal to the organization's service,research equipment, techniques or
management.S/DCS/W/ISL/Rev.1
Página 5Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Service sellers:  persons who as
representatives of a service provider covered
by the agreement are seeking temporary entry
for purposes of negotiation for the sale of
services or entering into agreements to sellservices for that service provider, where thisselling activity is not directed to the generalpublic.
Subsidies1
3) None
4) NoneSubsidies1
3) Eligibility for subsidies may be limited to
juridical persons established within the territoryof Iceland.  Subsidies related to research anddevelopment are unbound.
4) Subsidies available only to natural persons may
be limited to Icelandic citizens.
                                                     
1 The definition of subsidies remains to be determined in the context of negotiations under Article XV of the GATS.S/DCS/W/ISL/Rev.1
Página 6Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
II. SECTOR SPECIFIC COMMITMENTS
I. BUSINESS SERVICES
A. Professional Services
(a) Legal Services (CPC 861)
Legal advice activities on
home country law1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section.  Members of the General BarAssociation of Iceland have an exclusive rightto represent clients before all the major courtsin Iceland.2) None
1),3), 4) Icelandic law exam or an equivalent 
thereto, conditions of nationality, or 
previous residency of at least one year when practising legal services as a memberof the General Bar Association in Iceland
Legal advice oninternational law andforeign legal consultancy1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(b) Accounting, auditing and
book-keeping services(CPC 862)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section. Requirement of residence. Icelandicexam for certified accountants required
subject to exemption by the Minister of
Finance.1) None
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 7Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(c) Taxation services
 (CPC 863)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(d) Architectural services
(CPC 8671)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(e) Engineering services
(CPC 8672)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(f) Integrated Engineering
services (CPC 8673)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(g) Urban planning and
landscape architecturalservices(CPC 8674)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(i) Veterinary services 1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section.  Number of veterinarians in ruraldistricts is limited.1) None
2) None3) Ability in the Icelandic language required
4) Ability in the Icelandic language requiredS/DCS/W/ISL/Rev.1
Página 8Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(k) Other 1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
B. Computer and Related
Services
(a) Consultancy services
related to the installation of
computer hardware
(CPC 841)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None
4) None
(b) Software development
(including software
implementation)
CPC 842)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None
4) None
(c) Data processing services
(CPC 843)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) Concession needed if personal-data is to be
processed outside Icelandic jurisdiction
2) None
3) None4) None
(d) Data base services
(CPC 844)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) Concession needed if personal-data is to be
processed outside Icelandic jurisdiction
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 9Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(e) Other 1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) Concession needed if personal-data is to be
processed outside Icelandic jurisdiction
2) None3) None
4) None
C. Research and Development
Services
(a) R&D services on Natural
Sciences (CPC 851)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1),2) A license is needed for the importation of
research equipment.  Natural history specimensmust not be exported from the country unlesspermitted by the Icelandic Museum of NaturalHistory.
3),4) No foreigners are permitted to undertake
scientific research work in the field of natural
sciences without having first obtained aresearch permit issued by the Icelandic Councilof Science field of natural sciences withouthaving first obtained a research permit issuedby the Icelandic Council of Science
(b) R&D services on social
sciences and humanities1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1),2) Archaeological finds must not be exported
from the country unless permitted by theNational Archaeological Council("Þjóðminjaráð")
3),4) All archaeological research whether by
Icelandic or foreign researchers is subject to a
permit granted by the Icelandic ArchaeologicalCommittee ("fornleifanefnd")
(c) Interdisciplinary R&D
services (CPC 853)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) NoneS/DCS/W/ISL/Rev.1
Página 10Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
D. Real Estate Services
(a) Real estate services
involving own or leasedproperty (CPC 821)1) None
2) None3),4) Deposits or liability insurance to cover
loss caused to clients. All licenses to provide
services on sales of real-estate are personalauthorizations.
4) Unbound except as indicated in the 
horizontal section1) None
2) None3),4) Condition of one year previous residency in
order to obtain licence to provide services in
residential building and land sales, and otherrelated intermediary services for purchase andsale of real-estate
(b) On a Fee or Contract basis
(CPC 822)1) None
2) None3),4) Deposits or liability insurance to cover
loss caused to clients. All licences to provideservices on sales of real-estate are personal
authorization.
4) Unbound except as indicated in the horizontal
section1) None
2) None3),4) Condition of one year previous residency in
order to obtain licence to provide services inresidential building and land sales, and other
related intermediary services for purchase and
sale of real-estate
E. Rental/Leasing Services
without Operators1) None2) None
3) Leasing services must be provided either by
corporation with a limited liability (leasingcompanies) or registered commercial banks orsavings banks
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) Majority of the board of a leasing company
shall be resident in Iceland. The manager shallbe resident in Iceland and a citizen of a NordicCountry.
4) NoneS/DCS/W/ISL/Rev.1
Página 11Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(a) Relating to ships
(CPC 83103)1) None
2) None3) To be registered in the ship register the ship
must be owned by Icelandic natural or
juridical persons who are resident in Iceland.
Further nationality restrictions on fishingvessels.
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
(b) Relating to aircraft
(CPC 83104)1) None
2) None3) To be registered in the aircraft register the
aircraft must be owned by Icelandic natural orjuridical persons resident in Iceland
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
(c) Relating to other transport 
equipment (CPC 83101 + 83102 + 83105)1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) Residency requirement for car rental services4) Residency requirement for car rental services
(d) Relating to other machinery
and equipment(CPC 832)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(e) Other 1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) NoneS/DCS/W/ISL/Rev.1
Página 12Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
F. Other Business Services
(a) Advertising services
(CPC 871)1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
(b) Market research and public
opinion polling services
(CPC 864)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) Concession needed if personal data is to be
processed outside Icelandic jurisdiction
2) None
3) None4) None
(c) Management consulting
services (CPC 865)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
(d) Services related to man.
consulting (CPC 866)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
(e) Technical testing and
analysis services
(CPC 8676)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
(f) Services incidental to
agriculture, hunting andforestry (CPC 881)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 13Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(i) Services incidental to
manufacturing(CPC 884+885/except for88442)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(k) Placement and supply
services of personnel(CPC 872)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(m) Related scientific and
technical consultingservices (CPC 8675)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(n) Maintenance and repair of
equipment (CPC633+8861-8866; notincluding maritime vessels,
aircraft or other transport
equipment)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(o) Building-cleaning services
(CPC 874)1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) NoneS/DCS/W/ISL/Rev.1
Página 14Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(p) Photographic services
(CPC 875)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(q) Packaging services
(CPC 876)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(r) Printing, publishing
(CPC 88442)1) None
2) None3),4) Nationality or residency requirement of at
least one year for publishing of newspapers or
magazines within the national territory.
Nationality and residency requirement foreditors
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
(s) Convention services
(CPC 87909)1) None
2) None3) None4) Unbound except as indicated in the horizontal 
section.1) None
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 15Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
2. COMMUNICATION
SERVICES
C. Telecommunication
services
(a) Voice telephony(b) Packet-switched data
transmission services
(c) Circuit-switched data
transmission services
(d) Telex services(e) Telegraph services1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) Unbound except as indicated in the horizontal
sectionIceland undertakes 
additional commitments as contained in
the attachment, all 
parts of which are equally binding.
(f) Facsimile services(g) Leased circuit services(o) Other
- Mobile and
personal communicationsservices and systems
Value-added services2
Electronic mail, Voicemail, On-line information
and Data Base Retrieval,
EDI, Code and ProtocolConversion1) None
2) None3) None
4) Unbound except as indicated in the horizontal 
section1) None
2) None3) None
4) None
                                                     
2  Excludes voice telephony, telegraph, telex, packet and circuit switched data services, mobile radio telephony, paging and sat ellite services.S/DCS/W/ISL/Rev.1
Página 16Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
3. CONSTRUCTION AND
RELATEDENGINEERINGSERVICES
A. General Construction Work
for Buildings
(CPC 512)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
B. General Construction Work
for Civil Engineering (CPC
513)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
C. Installation and Assembly
Work (CPC 514+516)1) None2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
D. Building Completion and
Finishing Work (CPC 517)1) None2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 17Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
4. DISTRIBUTION
SERVICES(excluding trade in arms,alcoholic beverages,
tobacco and pharmaceutical
products)
A. Commissions Agents'
Services (CPC 621)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
B. Wholesale Trade Services
(CPC 622)1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
C. Retailing Services (CPC
631+632
6111+6113+6121)1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
D. Franchising (CPC 8929) 1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
E. Other 1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None
4) NoneS/DCS/W/ISL/Rev.1
Página 18Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
6. ENVIRONMENTAL
SERVICES
A. Sewage Services
(CPC 9401)1) Unbound*
2) None
3),4) Environmental operation license required
4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None
3) None
4) None 
B. Refuse Disposal Waste
(CPC 9402)1) Unbound*
2) None3),4) Environmental operating license required4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None3) None4) None
C. Sanitation and Similar
Services (CPC 9403)1) Unbound*2) None3) None4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None3) None4) None
D. Other 1) Unbound*2) None3),4) Environmental operating license required4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None3) None4) None
                                                     
* Unbound due to lack of technical feasibility.S/DCS/W/ISL/Rev.1
Página 19Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
7. FINANCIAL SERVICES
(i) Iceland undertakes commitments on financial services in accordance with the "Understanding on Commitments in Financial Servi ces" (the Understanding).
(ii) Market access commitments with respect to modes 1) and 2) and bound in this Schedule to the extent of the obligations in pa ragraphs 3 and 4 of the Understanding.
A. Insurance and Insurance-
related Services1) The supply of direct insurance is reserved for
Icelandic insurance undertakings or authorizedinsurance undertakings from another EEAMember State.
The supply of insurance broker services is
reserved for insurance brokers authorized bythe Ministry of Commerce or insurancebrokers authorized by competent authorities ofanother EEA Member State.1) None
2) None
3) Insurance undertakings not established in an
EEA Member State require authorization toestablish branch offices in Iceland.2) None
3) Founders of an insurance undertaking must be
Icelandic residents or legal entities registered inIceland, citizens of another EEA Member State residing in an EEA Member State or legal 
entities registered in an EEA Member State.
Any investor, whether resident or non-
resident, who acquires or intends to acquire aqualifying holding in an insurance undertakingmust give advance notice to the InsuranceSupervisory Authority.  The Authority may
refuse the acquisition or the exercise of
ownership if it believes that the acquisitionwill affect the sound functioning of theenterprise.Branch offices of non-EEA insurance
undertakings must be managed by a residentagent.
Insurance brokers must be resident in Iceland or
citizens or legal entities of another EEA
Member State residing in an EEA MemberState.
4) Unbound except as indicated in the horizontal
section.4) NoneS/DCS/W/ISL/Rev.1
Página 20Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
B. Banking and Other
Financial Services
(excluding insurance)1) None
2) None
3) Credit institutions and undertakings engaged
in securities services established in a non-EEAState can establish a branch or a representativeoffice, subject to authorization by the Ministry
of Commerce.1) Domestic financial institutions shall inform the
Central Bank of Iceland of the balances ofservice providers' accounts held by non-residents.
2) None
3) A founder of a credit institution shall be a
natural or legal person resident in Iceland.  The Minister of Commerce can grantexemptions from this requirement.  Citizens and
legal persons of other EEA Member States are 
exempted from the residency requirement
Credit institutions and undertakings engagedin securities services can only be establishedas companies with limited liability.
Commercial banks and savings banks have
exclusive rights to accept deposits and otherrepayable funds from the public.
Public issue of securities shall be conducted
by securities undertakings or other parties
authorized to provide such services.
4) Unbound except as indicated in the horizontal
section.Managers and board members of credit
institutions and undertakings engaged insecurities services and UCITS shall be residentin Iceland.  Citizens of other EEA Member
States are exempted from the residency
requirement.  The Minister of Commerce maygrant citizens of non-EEA Member States thesame exemptions.
Service providers shall inform the Ministry of
Commerce of investments made by non-
residents in business enterprises in Iceland andthe Central Bank of Iceland of investmentsmade by non-residents in securities in Iceland.
4) NoneS/DCS/W/ISL/Rev.1
Página 21Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
9. TOURISM AND TRAVEL
RELATED SERVICES
A. Hotels and Restaurants
(including catering)
(CPC 641-643)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) Condition of licenses is one year previous
residency
4) Condition of licenses is one year previous
residency
B. Travel Agencies and Tour
Operators (CPC 7471)1) None2) None3),4) Deposits or liability insurance to cover
loss caused to clients
4) Unbound except as indicated in the horizontal
section1) None
2) None3),4) Condition of licenses is one year previous
residency of the manager
C. Tourist Guides Services
(CPC 7472)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) The right to exercise the profession is reserved
for resident authorized tourist guides.  Foreign
resident guides may be granted temporarylicense on ad hoc basis.S/DCS/W/ISL/Rev.1
Página 22Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
10. RECREATIONAL
CULTURAL ANDSPORTING SERVICES(other than audiovisual
services)
A. Entertainment Services
(including theatre, live
ands and circus services)(CPC 9619)1) None
2) None3) None
4) Unbound except as indicated in the horizontal 
section1) None
2) None3) Targeted  financial support to specific local, 
regional or national activities.
4) None
B. News Agency Services
(CPC 962)1),2),3) None other than access to management
functions is subject to discretionaryauthorizations by competent authorities
4) Condition of nationality and residency for the
editor of a paper or magazine. Unboundexcept as indicated in the horizontal section1) None
2) None3) None
4) None
C. Libraries, Archives,
Museums and other
Cultural Service
(CPC 963)1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) Targeted financial support to specific local,
regional or national activities
4) None
D. Sporting and Other
Recreational Services
(CPC 964)1) None
2) None
3),4) Gambling, coin machines and like
activities are subject to licensing. Boxing isillegal in Iceland.
4) Unbound except as indicated in the horizontal
section1) None
2) None
3) Targeted financial support to specific local,
regional or national activities
4) NoneS/DCS/W/ISL/Rev.1
Página 23Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
E. Other 1) None
2) None3) None
4) Unbound except as indicated in the horizontal
section1) None
2) None3) Targeted financial support to specific local,
regional or national activities
4) None
11. TRANSPORT SERVICES
A. Maritime Transport
Services
International transport 
(freight and passengers) CPC
7211 and 7212 including
Cabotage transport 1).1) None
2) None
3)(a) Establishment of a registered company for the
purpose of operating a fleet under Icelandic
flag: Unbound except as indicated in the
horizontal section.
    (b) Other forms of commercial presence 2):
         None.
4)(a) Ships' crew:
Unbound except as indicated in the horizontal 
section.
(b) Key personnel employed in relation to a
commercial presence as defined under mode
3(b) above:
Unbound except as indicated in the horizontalsection.1) None
2) None
3)(a) Unbound
  (b) None
4)(a) Unbound
  (b) UnboundS/DCS/W/ISL/Rev.1
Página 24Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Maritime Auxiliary Services
- Maritime Cargo Handling
Services 3)1) None
2) None
3) None
4) Unbound, except as indicated in the horizontal
section1) None
2) None
3) None
4) None
- Storage and Warehousing
Services (CPC 742);Customs ClearanceServices 4);
Container Station and
Depot 5)1) Unbound
*
2) None
3) None
4) Unbound, except as indicated in the horizontal 
section1) Unbound*
2) None
3) None
4) None
- Maritime Agency Services 1) None
2) None
3) None
4) Unbound, except as indicated in the horizontal 
section1) None
2) None
3) None
4) None
- Other Supporting and 
Auxiliary Transport Services 8)1) None
2) None
3) None
4) Unbound, except as indicated in the horizontal 
section1) None
2) None
3) None
4) None
                                                     
*     A commitment on this mode of delivery is not feasible.S/DCS/W/ISL/Rev.1
Página 25Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Auxiliary Services as required by
Maritime Transport Operators:The following services are
made available tointernational maritimetransport suppliers on
reasonable and
non-discriminatory termsand conditions:
1. Pilotage
2. Towing and tug 
assistance
3. Provisioning, fuelling,
watering
4. Garbage collecting,
ballast waste disposal
5. Port Captain´s services
6. Navigation aids
7. Shore-based operational
services essential to shipoperations, incl.
communications, water,
electrical supplies
8. Emergency repair 
facilities
9. Anchorage, berth,
berthing services
10. Container handling,
storage and
warehousing, freight
transport.S/DCS/W/ISL/Rev.1
Página 26Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Where road, coastal
shipping and relatedauxiliary services are nototherwise fully covered in
this schedule, a multimodal
transport operator shallhave the ability to rent, hireor charter trucks and related
equipment for the purpose
of inland forwarding ofinternational cargoescarried by sea, or have
access to and use of such
multimodal activities forthe purpose of providingmultimodal transport
services.
C. Air Transport Services
Maintenance and repair of
aircraft and parts thereof1) Unbound*
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None
3) None4) None
Sales and marketing 1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) For distribution through CRS of air transport
services provided by CRS parent carrier:unbound
2) None
3) For distribution through CRS of air transport
services provided by CRS parent carrier:unbound
4) None
                                                     
*  Unbound due to lack of technical feasibilityS/DCS/W/ISL/Rev.1
Página 27Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
Computer Reservations
System1) None
2) None
3) None
4) Unbound except as indicated in the horizontal
section1) For obligations of parent or participating 
carriers in respect of a CRS controlled by an air carrier of one or more third countries: unbound
2) None
3) For obligations of parent or participating 
carriers in respect of a CRS controlled by an air carrier of one or more third countries:
4) None
Road Transport Services
(a) Passenger transportation
(CPC 7121+7122)1) None
2) None3),4) Authorization required for commercial
land transport services.  Numerical quotas
may be imposed as well as exclusive licensesfor certain areas or routes.
4) Unbound except as indicated in the horizontal
section1) None
2) None3) None
4) None
(b) Freight transportation
(CPC 123)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
(c) Rental of commercial
vehicles with operator
(CPC 7124)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
(d) Maintenance and repair of
road transport equipment(CPC 6112+8867)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) NoneS/DCS/W/ISL/Rev.1
Página 28Modes of supply: (1) Cross-border supply (2) Consumption abroad (3) Commercial presence (4) Presence of natural persons
Sector or Sub-sector Limitations on Market Access Limitat ions on  National Treatment Additional Commitments
(e) Supporting services for
road transport services(CPC 744)1) None
2) None3) None4) Unbound except as indicated in the horizontal
section1) None
2) None3) None4) None
H. Services auxiliary to all
modes of transport
(b) Storage and warehousing
services
(CPC 742)1) Unbound*
2) None
3) None4) Unbound except as indicated in the horizontal
section1) Unbound*
2) None
3) None4) None 
(c) Freight transport agency
services
 (CPC 748)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
(d) Other
(CPC 749)1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
I. Other Transport Services 1) None
2) None
3) None4) Unbound except as indicated in the horizontal
section1) None
2) None
3) None4) None
                                                     
* Unbound due to lack of technical feasibility.S/DCS/W/ISL/Rev.1
Página 29
Additional Commitments by Iceland
Scope
The following are definitions and principles on the regulatory framework for the basic
telecommunications services underpinning the market access commitments by Iceland.
Definitions
Users mean service consumers and service suppliers.
Essential facilities mean facilities of a public telecommunications transport network and
service that
(a) are exclusively or predominantly provided by a single or limited number of suppliers;
and
(b) cannot feasibly be economically or technically substituted in order to provide a 
service.
A major supplier is a supplier which has the ability to materially affect the terms of
participation (having regard to price and supply) in the relevant market for basic telecommunications
services as a result of:
(a) control over essential facilities;  or(b) use of its position in the market.
1. Competitive safeguards
1.1 Prevention of anti-competitive practices in telecommunications
Appropriate measures shall be maintained for the purpose of preventing suppliers who, alone
or together, are a major supplier from engaging in or continuing anti-competitive practices.
1.2 Safeguards
The anti-competitive practices referred to above shall include in particular:(a) engaging in anti-competitive cross-subsidization;(b) using information obtained from competitors with anti-competitive results;  and(c) not making available to other services suppliers on a timely basis technical 
information about essential facilities and commercially relevant information which are necessary for them to provide services.
2. Interconnection
2.1 This section applies to linking with suppliers providing public telecommunications transport
networks or services in order to allow the users of one supplier to communicate with users of another
supplier and  to access services provided by another supplier.S/DCS/W/ISL/Rev.1
Página 30
2.2 Interconnection to be ensured
Within the limits of permitted market access, interconnection with a major supplier will be
ensured at any technically feasible point in the network.  Such interconnection is provided1:
(a) under non-discriminatory terms, conditions (including technical standards and 
specifications) and rates and of a quality no less favourable than that provided for its 
own like services or for like services of non-affiliated service suppliers or for its 
subsidiaries or other affiliates2,
(b) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that are transparent, reasonable, having regard 
to economic feasibility, and sufficiently unbundled so that the supplier need not pay for network components or facilities that it does not require for the service to be 
provided;  and
(c) upon request, at points in addition to the network termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary additional facilities.
2.3 Public availability of the procedures for interconnection negotiations
The procedures applicable for interconnection to a major supplier will be made publicly
available.
2.4 Transparency of interconnection arrangements
It is ensured that a major supplier will make publicly available either its interconnection
agreements or a reference interconnection offer.
2.5 Interconnection:  dispute settlement
A service supplier requesting interconnection with a major supplier will have recourse, either:(a)  at any time or(b) after a reasonable period of time which has been made publicly knownto an independent domestic body, which may be a regulatory body as referred to in paragraph
5 below, to resolve disputes regarding appropriate terms, conditions and rates for interconnectionwithin a reasonable period of time, to the extent that these have not been established previously.
                                                     
1 Suppliers of services or networks not generally available to the public, such as closed user groups, have
guaranteed rights to connect with the public telecommunications transport network or services on terms, conditions and rates
which are non-discriminatory, transparent and cost-oriented.  Such terms, conditions and rates may, however, vary from theterms, conditions and rates applicable to interconnection between public telecommunications networks or services.
2 Different terms, conditions and rates may be set in Iceland for operators in different market segments, on the
basis of non-discriminatory and transparent national licensing provisions, where such differences can be objectively justified
because these services are not considered "like services".S/DCS/W/ISL/Rev.1
Página 31
3. Universal service
Any Member has the right to define the kind of universal service obligation it wishes to
maintain.  Such obligations will not be regarded  as anti-competitive per se, provided they are
administered in a transparent, non-discriminatory and competitively neutral manner and are not more
burdensome than necessary for the kind of universal service defined by the Member.
4. Public availability of licensing criteria
Where a licence is required, the following will be made publicly available:
(a) all the licensing criteria and the period of time normally required to reach a decision
concerning an application for a licence and
(b) the terms and conditions of  individual licences.
The reasons for the denial of a licence will be made known to the applicant upon request.
5. Independent regulators
The regulatory body is separate from, and not accountable to, any supplier of basic
telecommunications services.  The decisions of and the procedures used by regulators shall be
impartial with respect to all market participants.
6. Allocation and use of scarce resources
Any procedures for the allocation and use of scarce resources, including frequencies, numbers
and rights of way, will be carried out in an objective, timely, transparent and non-discriminatorymanner.  The current state of allocated frequency bands will be made publicly available, but detailed
identification of frequencies allocated for specific government uses is not required.S/DCS/W/ISL/Rev.1
Página 32
ATTACHMENT
NOTES TO MARITIME TRANSPORT
”Reasonable and non-discriminatory terms and conditions” means, for the purpose of multimodal
transport operations, the ability of the multimodal tran sport operator to arrange for the conveyance of its
merchandise on a timely basis, including priority over  other merchandise which has entered the port at a
later date. A ”multimodal transport operator” means the person on whose behalf the bill of
lading/multimodal transport document, or any othe r document evidencing a contract of multimodal
carriage of goods, is issued and who is responsible for the carriage of goods pursuant to the contract of
carriage.
1. ”Cabotage” is defined as maritime transport of  goods and passengers between ports in Iceland.
2. ”Other forms of commercial presence for the s upply of international maritime transport services”
means the ability for inte rnational maritime transport service suppliers of the other Members to
undertake locally all activities which are necessary for the supply to their customers of a partially or
fully integrated transport service,  within which the maritime transport constitutes a substantial element.
(This commitment shall however not be construed as limiting in any manner the commitments
undertaken under the cross-border mode of delivery).
These activities include, but are not limited to:(a) marketing and sales of maritime transport and related services through direct contact with
customers, from quotation to invoicing, these servi ces being those operated or offered by the service
supplier itself or by service suppliers with which the service seller has established standing business
arrangements;
(b) the acquisition, on their own account or on behalf  of their customers (and the resale to their
customers) of any transport and related services, including inward transport services by any mode,
particularly inland waterways, road and rail, nece ssary for the supply of the integrated service;
(c) the preparation of documentation concerning transport documents, customs documents, or other
documents related to the origin and character of the goods transported;
(d) the provision of business information by any m eans, including computerised information systems
and electronic data interchange (subject to th e provisions of the annex on telecommunications);
(e) the setting of any business arrangements (includi ng participation in the stock of a company) and
the appointment of personnel recruited locally (or, in the case of foreign personnel, subject to the
horizontal commitment on movement of personnel) with any locally established shipping agency;
(f) acting on behalf of the companies, organising th e call of the ship or taking over cargoes when
required.
3. ”Maritime cargo handling services” means activities exercised by stevedore companies, including
terminal operators, but not including the direct activ ities of dockers, when this workforce is organized
independently of the stevedoring or terminal ope rator companies. The activ ities covered include the
organisation and supervision of:
- the loading/discharging of cargo to/from a ship;
- the lashing/unlashing of cargo;
- the reception/delivery and safekeeping of car goes before shipment or after discharge.S/DCS/W/ISL/Rev.1
Página 33
4. ”Customs clearance services” (alternatively ”customs house brokers´ services”) means activities
consisting in carrying out on behalf of another pa rty customs formalities concerning import, export or
through transport of cargoes, whether this service is the main activity of the service provider or a usual
complement of its main activity.
5. ”Container station and depot services” means activ ities consisting in storing containers, whether in
port areas or inland, with a view to their stuffing/s tripping, repairing, and making them available for
shipments.
6. ”Maritime agency services” means the activities consisting in representing, within a given
geographic area, as an agent the business interests of one or more shipping lines of shipping companies,
for the following purposes:
- marketing and sales of maritime transport and re lated services, from quotation to invoicing, and
issuance of bills of lading on behalf of the compan ies; acquisition and resale of the necessary related
services, preparation of documentation, and provision of business information;
- acting on behalf of the companies organising the call of the ship or taking over cargoes whenrequired.
7. ”Freight forwarding services” means the activity consisting of organising and monitoring shipment
operations on behalf of shippers, through the acquisiti on of transport and related services, preparation of
documentation and provision of business information.
8. ”Other supporting and auxiliary transport servi ces” means freight brokerage services; bill auditing
and freight rate information services; transportati on document preparation services; packing and crating
and unpacking and de-crating services; freight inspect ion, weighing and sampling services; and freight
receiving and acceptance services (including local pick-up and delivery).
_______________S/DCS/W/ISL/Rev.1
Página 34ICELAND - LIST OF ARTICLE II (MFN) EXEMPTIONS
Sector or SubsectorDescription of measure
indicating its inconsistency
with Article IICountries to which the
measure appliesIntended durationConditions creating  the need for
the exemption
ALL SECTORS
Measures aimed at promoting
Nordic cooperation such as:
- guarantees and loans to
investment projects and exports(The Nordic Investment Bank)- financial support to R&Dprojects (The Nordic IndustrialFund)
- funding of feasibility studies for
international projects (The NordicFund for Project Exports)- financial assistance tocompanies* utilizing
environmental technology (The
Nordic Environment FinanceCorporation).Denmark, Finland, Iceland,
Norway and Sweden
(*) Applies to East European
companies, which are co-
operating with a Nordic
company.Indefinite To maintain and develop Nordic
Cooperation
Audiovisual services;transmission ofaudiovisual programmesMeasures that are adopted for the
implementation and in conformitywith the regulations such as the
EC Television Broadcasting
Directive (no. 89/552) and whichdefine programmes of Europeanorigin in order to extend nationaltreatment to audiovisualprogrammes meeting specific
origin criteriaParties to the Council of Europe
Convention on TransfrontierTelevision or other European
countries with whom an
agreement may be concludedIndefinite The promotion of cultural identity
within the broadcasting sector inEurope, as well as achievement of
certain linguistic policy objectivesS/DCS/W/ISL/Rev.1
Página 35Sector or SubsectorDescription of measure
indicating its inconsistency
with Article IICountries to which the
measure appliesIntended durationConditions creating  the need for
the exemption
Audiovisual services;production anddistribution of
cinematographic works
and television programmesMeasures that are adopted for the
implementation of benefits inconformity with such support
programmes as MEDIA and
EURIMAGES to audiovisualprogrammes and suppliers tothese programmes, meetingspecific European origin criteriaEuropean countries Indefinite Preservation and promotion of the
regional identity of the countriesconcerned
Support programmes for theproduction and distribution ofcinematographic works andtelevision programmes (TheNordic Film and TV Fund)Denmark, Finland, Norway and
SwedenIndefinite To maintain and develop Nordic
cooperation
Measures based upongovernment-to-governmentframework agreements, andplurilateral agreements, on co-production of audiovisual works,which confer National Treatment
to audiovisual works covered by
these agreements, in particular inrelation to distribution and accessto fundingAll countries with whom
cultural cooperation may bedesirable (agreements alreadyexist, or are being negotiated,with the following countries:France, Canada)Indefinite (The promotion
of cultural links betweencountries cannot be timebound)The aim of these agreements is to
promote cultural links between thecountries concerned
__________