Wealthy North Americans Promise to Invest in Iceland

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Wealthy North Americans Promise to Invest in Iceland

David S. Lesperance, the lawyer representing the ten North Americans who have applied for an exemption to be granted Icelandic citizenship for themselves and their children, told the Icelandic media that they have signed a contract where they oblige themselves to invest in industries promoting job creation if their request is granted.

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From the 2008 protests. Copyright: Icelandic Photo Agency.

Lesperance stressed that they are not interested in buying up Icelandic resources, neither in the fishing industry nor in the energy sector. They are not planning to elude the laws on taxation—Iceland is not a tax haven—but they believe their tax money is better spent in Iceland than in their home countries, ruv.is reports.

To prove that his clients are not criminals, Lesperance suggested a third party be obtained to investigate all of their backgrounds. He added they have no connections with Icelandic tycoons, so-called outvasion Vikings, or “disgraced Vikings”, as he refers to them.

In the next ten years, the aspiring Icelanders are planning to invest significant amounts in various local startup companies. They have signed a contract to that effect, Lesperance said, and have even deposited the money they intend to use for the project into an escrow account.

Prime Minister Jóhanna Sigurdardóttir commented in parliament last week that these ten Canadian and American investors’ applications for Icelandic citizenship are concerning and suspicious, ruv.is reports.

They are said to have ISK 1,700 billion (USD 15 billion, EUR 10 billion) at their disposal and have on earlier occasions invested in the energy sector in Russia and elsewhere.

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