WhatsApp quoteVAT De-registration is cancelling a VAT registration when a business closes or falls below the threshold, and it applies to businesses that cease taxable supplies or drop below AED 187,500 in turnover. The Federal Tax Authority's EmaraTax portal makes VAT De-registration a digital process, but the questions it asks are precise and the supporting documents must match your licence exactly. For most clients, the most common businesses Icelanders open through GoldenKey are in seafood exports, aviation, geothermal technology and software, although VAT De-registration supports almost any activity. In our experience, icelanders are a very small community, mostly in aviation, seafood and technology, so the VAT De-registration authority, the banks and the immigration officers see Icelandic applications every day and process them without hesitation.
Why VAT De-registration
GoldenKey prepares the EmaraTax application for VAT De-registration, uploads the documents and follows up with the FTA until the certificate is issued. The steps for VAT De-registration are: apply within 20 business days of becoming eligible, file a final return, settle outstanding tax and penalties and then receive the de-registration confirmation. From day one, many Icelandic founders run VAT De-registration companies alongside an existing business in Iceland, using the UAE entity for international invoicing and regional sales.
Documents required
Here is what you will need for vat de-registration for Icelandic-owned companies; GoldenKey checks every item before submission.
- Trade licence and certificate of incorporation
- Customs code and import records where applicable
- Memorandum of association showing shareholders
- Turnover evidence such as invoices, contracts or financial statements
- Bank account letter or IBAN certificate
- Passport and Emirates ID of the authorised signatory
Pricing
Put simply, pricing for vat de-registration for Icelandic-owned companies depends on the package you choose; every option below includes GoldenKey's service and the government fees stated. All prices for vat de-registration for Icelandic-owned companies are indicative, shown in AED and confirmed in writing before you pay.
| GoldenKey service fee | AED 1,500 |
|---|
FTA VAT de-registration for businesses ceasing or falling below threshold
Request this servicePrices are indicative, in AED, exclusive of 5% VAT where applicable, and confirmed in writing before payment. Last updated 2026-10-06.
Why the UAE
The UAE's reputation as a trading hub means international customers and suppliers already trust a UAE licence, which shortens sales cycles for vat de-registration for Icelandic-owned companies. In short, since 2021, most mainland activities have allowed 100% foreign ownership, and free zones have always offered it, so vat de-registration for Icelandic-owned companies no longer requires a local partner.
Why GoldenKey
In short, you deal with one named case manager from the first call until your VAT De-registration licence, visa and bank introduction are complete, and that consultant answers your WhatsApp messages personally. In short, most of our VAT De-registration customers come to us through referrals from other business owners, so we take pride in keeping every promise we put in writing. We speak the languages our clients speak, including English, Arabic, Hindi, Urdu and Malayalam, and we can arrange Russian, French and Mandarin support for vat de-registration for Icelandic-owned companies.
Tell us about your plans for vat de-registration for Icelandic-owned companies and GoldenKey will come back to you shortly with a clear price, a document checklist and a realistic timeline.
Frequently asked questions
Does VAT De-registration apply to a new company with no revenue yet?
Not applicable until a company is registered; a company that never reached the threshold has nothing to de-register.
What happens if I miss the VAT De-registration deadline?
Day to day, late registration attracts a fixed penalty, and late filings add further penalties. If you are already late, GoldenKey can register you and advise on penalty reconsideration where grounds exist.
Can GoldenKey act as my tax agent?
Yes. GoldenKey can prepare and submit filings on your behalf and handle FTA correspondence, so you have one point of contact for licence, visa and tax matters.
Is there a double taxation agreement between Iceland and the UAE?
Crucially, the UAE has double taxation agreements with more than 130 countries. Whether Iceland is covered and how it applies to you depends on the current treaty position, which GoldenKey checks with a tax adviser before you rely on it.
Can a Icelandic citizen own 100% of a company in VAT De-registration?
Yes, it can. Icelanders can own the full share capital of a VAT De-registration company with no local partner, exactly like any other nationality.
