ISNIC, the Registry for .IS domain extension announced that they are offering Registrants with the choice of renewing their .IS domain names for periods of up to five years. They also mentioned that the initial registrations will remain at one year.
The Registry declared that changes were made to their terms and conditions with regards to the renewal period.
The article 19 of the .IS registration rule now reads:
The domain registration period is at least one year, paid in advance on or before the domain expiration date.
All domain registrations shall be accompanied by a payment.
The company has made the official announcement on their website.