Membership fee

The Vakinn membership fee consists of a one time application fee and an annual fee:

Application fee

The application fee is paid when the company applies for participation in Vakinn. Names of companies that have paid the application fee and are actively working towards certification are published on the Vakinn website as companies under evaluation. 

Bullet The application fee is ISK 35.000. An invoice for the application fee is sent to the company’s online bank when Vakinn has received the application. If the application fee has not been paid on the final due date Vakinn will stop any further work on the application until payment has been made.

bulet  According to a contract between the Icelandic Tourist Board and Hey Iceland, members of Hey Iceland are exempt from paying the application fee. 

Please note:
The application fee is valid for one year. Companies that do not complete the application process within a year must renew their application by resubmitting the application fee.

If a company withdraws it participation in Vakinn for an unspecified length of time, and then wishes to join Vakinn again, it must resubmit its application and resubmit the application fee.

Annual Fee

The annual fee is based on the annual income/turnover of each company and the number of service categories assessed. For determination of the annual fee, participating companies must submit their financial statement annually or a confirmation of annual turnover from the company accountant. Companies paying the maximum annual fee do not have to submit this information. 
Annual fees are collected according to the following rate table: 

1. Annual fee, turnover up to ISK 10 million ISK   45,000
2. Annual fee, turnover ISK 11-20 million ISK   55.000
3. Annual fee, turnover ISK 20-50 million ISK   75,000
4. Annual fee, turnover ISK 51-120 million    ISK   85,000
5. Annual fee, turnover ISK 121-200 million ISK 110,000
6. Annual fee, turnover ISK 201-400 million ISK 125,000
7. Annual fee, turnover over ISK 401 million ISK 150,000
     
  Tourism services other than accommodation, each activity/type of service beyond four  ISK   10,000
  Accommodation: Extra charge for each type of accommodation  beyond one*   ISK   20,000
  Restaurant: Individual listing and certification** ISK   35,000
  Additional initial audit ISK   35,000
  Additional listing on webpage ISK   35,000
  Additional Vakinn sign ISK     4,500
  Flag, extra ISK     3,500
  Vakinn sticker 11,5 x 7,0 cm ISK        500
  Vakinn sticker 8,3 x 5,0 cm ISK        300
  Vakinn sticker 10x10 cm ISK        500

 

*Applies to accommodation units at the same address. For accommodation at different addresses the annual fee is based on the annual turnover of each unit.

**Applies to restaurants that are operated in connection with other services that hold Vakinn certification.

Discounts:

  1. Companies that have been participants in Vakinn for five years are granted a 10% discount on the turnover based annual fee.
  2. Corporate Chains and franchises with a 100% membership are granted a 15% discount on the turnover based annual fee for each member establishment.