Practice Areas

LOCAL attorneys provide legal services relating to competition law.

When mergers and acquisitions take place, notifications to the competition authorities is often required. LOCAL attorneys offer advice in the preparation of notifications and correspondence with the competition authorities.

LOCAL attorneys have extensive experience and knowledge in the field of contract law and provide legal advice on drafting, reviewing and negotiating all types of agreements.
LOCAL attorneys have extensive experience in providing advice in relation to corporate and commercial law.

LOCAL attorneys provide assistance in regards to the sale and purchase of shares in companies, mergers and acquisitions. LOCAL attorneys have extensive knowledge and experience in drafting, reviewing and negotiating transaction documents.

It is important to perform a due diligence review as a part of the acquisition or merger of companies. LOCAL attorneys perform due diligence reviews relating to change of ownership of companies where the target company or its assets are evaluated and investigated.

When mergers and acquisitions take place, notifications to the competition authorities is often required. LOCAL attorneys offer advice in the preparation of notifications and handling of other necessary correspondence linked to such projects.

LOCAL attorneys advice their clients with the preparation of offers, execution of due diligence reviews, commercial agreements, agreements on the sale and purchase of shares, loan agreements, financial collateral agreements, intercreditor agreements, shareholders agreements and all other agreements which are necessary to conclude and finalize a successful transaction.

LOCAL attorneys provide general advice in the fields of corporate and commercial law. LOCAL attorneys advise on issues relating to the establishment of a company, de-merger and dissolution of a company and change in corporate form as well as all the preparation of all necessary legal documents.

Legal Due Diligence Review

LOCAL attorneys have extensive experience and knowledge in the performance of legal due diligence reviews. During a legal due diligence review the legal status and structure of a company is examined thoroughly as well as all the company’s assets and obligations. Due diligence review is a way to spot if a company´s structure and operations are in accordance with laws and regulations as well as the company´s articles of association. Furthermore, a legal due diligence review confirms if a company legally owns assets stated in a company´s financial statements as well as reveal company´s liabilities. A legal due diligence review may limit risks associated with a target company during acquisition or merger.

It is common and advisable to perform a legal due diligence review in connection to sale and purchase of shares and mergers and acquisitions as the process may clearly bring forth the status of a company and may provide valuable information on the identified target and assists in the determination whether an acquisition is advisable.

Tax Due Diligence Review

LOCAL attorneys specialize in the performance of tax due diligence reviews on companies. With the performance of tax due diligence the possible tax implications of a proposed acquisition may be identified. The review may include tax issues relating to mergers and acquisitions, income tax, tax on capital gains, transfer pricing and VAT.

LOCAL attorneys provide advice to companies, businesses and institutions relating to corporate governance. LOCAL attorneys provide advice to company boards and executives in fulfilling their obligations effectively.

Corporate governance refers to the structures and processes for the direction and control of companies. Corporate governance concerns the relationships among the management, Board of Directors, controlling shareholders, minority shareholders and other stakeholders. Good corporate governance helps companies operate more efficiently, improve access to capital, mitigate risk and safeguard against mismanagement. It makes companies more accountable and transparent to investors and gives them the tools to respond to legitimate stakeholder concerns such as sustainable environmental and social development. Corporate governance also contributes to development. Increased access to capital encourages new investments, boosts economic growth, and provides employment opportunities.

LOCAL attorneys are certified independent auditors of corporate governance by the Icelandic Chamber of Commerce and the Centre of Corporate Governance. Companies that pass the evaluation process will be granted the nomination of Excellent Corporate Governance.

LOCAL attorneys provide services in the field of intellectual property (IP) law and information technology (IT) law.
LOCAL attorneys specialize in litigation before the district courts of Iceland and the Supreme Court

LOCAL attorneys have experience in litigation before the EFTA court and offer expert advice in the field of arbitration.

LOCAL attorneys provide assistance and advice regarding Icelandic and international tax law. LOCAL attorneys represent companies and individuals before the tax authorities and provide dispute resolution before the courts of Iceland.

LOCAL attorneys provide the services of acting as VAT representatives/VAT agents for non-resident VAT taxable persons in Iceland. LOCAL attorneys will therefore act as the local representative of the non-resident company, managing with queries and filing obligations of the company for dealings with the Icelandic tax authorities.

According to the Icelandic VAT Act an Icelandic VAT representative of a foreign VAT taxable person in Iceland shall prepare VAT returns every two months. Each VAT period is 2 months. The VAT periods are the following:

  • January-February (VAT to be filed and paid on the 5th of April)
  • March-April (VAT to be filed and paid on the 5th of June)
  • May-June (VAT to be filed and paid on the 5th of August)
  • July-August (VAT to be filed and paid on the 5th of October)
  • September-October (VAT to be filed and paid on the 5th of December)
  • November-December (VAT to be filed and paid on the 5th of February)

Please contact the attorneys of LOCAL attorneys if you require further information.

 

Administrative law

LOCAL attorneys have extensive knowledge of administrative law. LOCAL attorneys handle interests of individuals and companies in dealing with the Icelandic government and public institutions.

Bankruptcy and insolvency law

LOCAL attorneys have extensive knowledge of the Icelandic bankruptcy law and experience in the liquidation of companies. LOCAL attorneys have experience in the winding-up proceedings of financial institutions have sat on the resolution board of a financial institution following the liquidation of said financial institution.

Debt Collection

LOCAL attorneys assist and advice in the process of debt collection, both to individuals and companies.

Employment and labour law

LOCAL attorneys provide assistance and advice in relation to employment law. The attorneys of LOCAL attorneys provide advice to employees, executives, unions and employers. LOCAL attorneys provide representations regarding employment law before Icelandic courts and the EFTA court.

EU Law

European law has become increasingly important in the Icelandic legal environment. The attorneys of LOCAL attorneys are well versed in the application of European law and the interpretation of the regulations of the European Union. Furthermore, the attorneys of LOCAL attorneys are experienced in proceedings before the EFTA court.

Family Law

LOCAL attorneys provide legal advice to individuals in connection with marriage and cohabitation. Furthermore, LOCAL attorneys provide advice in relation to divorce and termination of cohabitation.

LOCAL attorneys provide legal advice in the field of children´s right. LOCAL attorneys provide advice in custody and child protection.

Inheritance Law

LOCAL lawyers provide advice in relation to inheritance law. The attorneys of LOCAL attorneys assist in estate and inheritance matters.

Real Estate and Rental Lease Law

LOCAL lawyers provide legal advice in connection with real estate transactions. The attorneys of LOCAL attorneys are certified real estate agents. Furthermore, the attorneys of LOCAL attorneys have extensive experience of providing legal assistance and advice regarding real estate purchases, for example, due to defects and completion of settlements and sales contracts.
Furthermore, the attorneys of LOCAL attorneys provide advice in relation to lease law, such as drafting, reviewing and negotiating of lease agreements and their enforcement.

Employee Relocation

LOCAL attorneys provide assistance and advice in connection with foreign applications for residence or work permit in Iceland. LOCAL attorneys provide both local and international corporations with legal advice in this regard. Furthermore, LOCAL attorneys advice on and prepare applications for Icelandic citizenship.

Tort law

LOCAL attorneys have experience in the field of tort and offer assistance and advice in the fields of insurance and tort against insurance companies due to traffic, work and other accidents. LOCAL attorneys have represented many cases before the Icelandic courts in the field of tort.

The values of LOCAL attorneys are Professionalism, Quality and Trust!

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