Commercial fishing permits

General fishing permits are of two types: 

• General catch quota permit allowing fishing with all legal fishing gear. 

• Hook-and-line permit  allowing hook and line fishing only. 

Boats that have a hook and line permit need to be:

• Less than 30bt

• Shorter than 15 meters

• It is only legal to fish with hook and line

• It is not allowed to move quota fish from the hook and line system to the general catch quota system unless it is equal amounts in cod equivalent between the system.

Conditions for commercial fishing permit

• Applicant needs to be operator of a vessel

• Commercial fishing permits may only be granted to fishing vessels holding certificates of seaworthiness and registered in the Registry of Vessels of the Icelandic Transport Authority or the special registry for boats less than six meters long.

• Operator of vessel does not have financial debt towards the Directorate of Fisheries.

• Icelandic owner ship on vessel
  

Validity and revocation of commercial fishing permits

The permit is valid from its issue date as long as fishing vessel lands a catch within twelve months. The permission is revoked:

• if the ship has not landed catch for twelve months consecutively

• if vessel is no longer registered at the Registry of Vessels of the Icelandic Transport Authority

• if a ship is taken off the register of the Icelandic Transport Authority

• if owners or operators of a vessel do not qualify to fish in the Icelandic exclusive fishing zone that is stipulated in Icelandic laws regarding investment of foreign parties in business operations and laws about fishing and processing for foreign vessels in Icelandic exclusive economy zone.  
  

Payment for permits is during the application process. The permit costs 22.000 ISK