This invention relates to a fast drying iodine complex solution having film forming capability and skin substantivity which solution consists essentially of:(a) between 1 and 25 wt % polyvinyl pyrrolidone/iodine (PVP/I) complex;(b) between 5 and 15 wt % vinyl pyrrolidone/vinyl acetate copolymer (PVP/VA);(c) between 0.5 and 1.5 wt % non-plasticizing polyethylene glycol (PEG);(d) between 35 and 75 wt % C.sub.1 to C.sub.4 alkanol;(e) between 12 and 35 wt % deionized water and(f) between 0 and 2.5 wt % of 1-vinyl-3-(E)-ethylidene pyrrolidone, based on total composition.The invention also relates to the method of preparing the film forming solution which has a drying time of less than 5 minutes.