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Legal market overview

The mood among law firms in Iceland is cautiously optimistic: for many, the lifting of capital controls at the end of 2015 marks an end to the tough economic conditions that have dominated the Icelandic market, and has fuelled anticipation of positive growth in banking and transactional corporate work. There was some growth in M&A activity in 2015, although the jury is still out on how much foreign investment the country will see. While the country’s emergence from fiscal constraints has resulted in a slowing of restructuring and insolvency work, it remains a key area of activity for Iceland’s law firms.

Abuse of dominance cases and merger control issues continued to be key drivers for law firms’ dispute resolution and competition practices, while the resurgent market for new homes led to growth in construction work for many practices. There is a strong market for boutique TMT and IP firms, which have benefited from continued activity around data protection issues.

Lex Law Offices and LOGOS are consistently top-ranked firms.

Firms in the spotlight


The firm was founded in 1998 by Baldvin Bjorn Haraldsson and Asgeir A Ragnarsson, and was the first law firm in Iceland to build its practice exclusively on servicing the business sector. This focus has allowed BBA’s lawyers to gain substantial experience and a level of expertise which is second to none in Iceland in, among other areas, corporate law, finance law and general business law.

Arnason Faktor

Arnason Faktor was formed in 2006 when two leading intellectual property firms in Iceland, A&P Arnason and Faktor Patentbureau, merged. Faktor Patenbureau was founded in 1969 and has been extensively engaged in intellectual property protection in Iceland ever since. A&P Arnason traces its roots back to 1985 and has been a pioneer in the promotion of intellectual property protection in the Icelandic industry and business community. Arnason Faktor is the largest intellectual property consultancy firm in Iceland with 27 employees. It has offices in Reykjavik, Copenhagen and Munich.

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