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|Tax Year Dates:||1st January – 31st December|
Greenland is an autonomous territory within the Kingdom of Denmark. The vast proportion of the country is within the Arctic Circle, and around 80% of it is covered in ice. As the largest island in the world, it will come as no surprise to learn that Greenland’s chief exports are fish; non-fillet frozen fish, crustaceans, and processed fish. Greenland is also thought to possess around 13% of the world’s undiscovered oil reserves, and 30% of the world’s natural gas reserves. So far these reserves have been unobtainable, however, due to the effects of climate change, it’s thought that they could be accessed in the not too distant future. It’s for this reason that countries like the US and Russia want to establish their presence in the country.
From a business perspective, expansion into Greenland could give your company an ideal strategic position, as it makes it a suitable stopover point between the US and Europe. There are two international airports; Kangerlussuaq Airport which offers flights to Copenhagen in Denmark, and Ilulissat Airport has flights to Reykjavik in Iceland.
Company owners considering expansion into this part of the world must be fully aware of Greenland’s employment law. Our experts at IRIS FMP have a wealth of experience in navigating international HR and payroll law and are able to offer the guidance you need to ensure a seamless and fully compliant expansion venture.
Details correct at time of publication. You should not rely on these details without first seeking professional international advice.