Doing Business in Greenland - Book - Page 20
TThe scope of the Act will be partly
similar to the FDI schemes in
Denmark and other EU countries,
but as something unique to
Greenland, the Act also covers the
mineral resources sector, hydropower
plants,
and
SelfGovernment-owned companies.
The Greenlandic Government may
approve, reject or prohibit foreign
investments, as well as issue orders
for termination. Approval may be
subject
to
conditions,
e.g.
commitments from the investor,
with a reporting obligation.
10.5 Voluntary notification and
approval
There is also a voluntary screening
scheme for the approval of foreign
investments that do not fall within
the mandatory scheme for certain
sectors. Voluntary notification may
concern other both planned and
already
completed
foreign
investments.
20
This ensures that the Government
of Greenland can approve the
investment and thus will not
subsequently be able to intervene
against the investment on the
grounds of a threat to Greenland’s
security or public order. Thus for
investments outside the mandatory
scheme, the Government has the
right
to
investigate
foreign
investments that have not been
notified for approval for up to 5
years after the investment has
been made, and ultimately prohibit
such investment
The bill for the Act on foreign
investment control (FDI) is
expected to be presented for
the
Greenland
Parliament
during the Spring Session 2026.
Helen Kibsgaard
Partner, attorney-at-law
hk@nunalaw.gl
