Iceland eases crisis controls

Iceland has eased restrictions on investments abroad for households and has opened up for outward direct investments in another step towards removing its almost eight-year-old capital control regime.

In a bill introduced yesterday, the country’s government proposed individuals be allowed to invest 100 million kronur (€755,000) in securities a year and also to buy at least one property abroad.

Outward foreign direct investments will be unrestricted, but subject to confirmation by the central bank, the government said. A slew of other restrictions were also eased and limits will be lifted further in January, according to the bill.