| LLC | PLC | Branch Office | Rep Office | |
|---|---|---|---|---|
| Local Name | Anpartsselskab | Aktieselskab | Agentschap | Representatief |
| Company Setup Time | 10 days | 15 days | 15 days | 15 days |
| Bank Account Opening | 10 days | 10 days | 15 days | 15 days |
| Government Grants Available | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Greenland limited liability company (anpartsselskab or ApS)
- A limited liability company (LLC) in Greenland may be established with;
- One shareholder,
- One director, and
- A share capital of USD 19,000. A wholly foreign owned entity is also permitted in most of the corporate sectors. For an LLC a minimum of one director shall be locally resident in Greenland, or a citizen of Canada or any other Nordic country (Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, Greenland and Åland). For helping our customers fulfilling these conditions, we may provide our services in offering passive nominee shareholder or director who will be resident.
- The LLC in Greenland shall provide a registered address of the entity to the Greenland government for completion of the registration. Once the registration is complete, the entity shall provide yearly audited financial reports and it shall appoint;
- 1 government approved public accountant, and
- A statutory auditor.
The Greenland public limited company – PLC (aktieselskab or A/S)
- The requirements for incorporating a Public Limited Company (PLC) in Greenland are as follows;
- 3 directors,
- 1 shareholder, and
- A minimum share capital of USD 75,000. Ownership by foreign investors is not prohibited in most of the business sectors.
- As per the corporate laws of Greenland, a minimum of one out of three directors shall be local resident of Greenland, or should be a citizen of Denmark or any other Nordic country (Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, Greenland and Åland). If required, we can provide passive nominee shareholder and/or director services, who shall be Greenland resident.
- The PLC shall deliver a registered address of the company for the process of registration to the government of Greenland. Once the registration is complete, the entity shall submit yearly audited financial statement to the Tax Authority of Greenland. For this purpose, it must appoint;
- An approved public accountant, or
- A statutory auditor.
The Greenland branch (filial)
- Registration of a branch office in Greenland has a requirement of 1 shareholder and 1 director. Only a company with a legitimate listed office in the European Union, the United States of America, Canada or the Nordic countries (Denmark, Finland, Iceland, Norway, Sweden, the Faroe Islands, Greenland and Åland) may register a branch office in Greenland. The director shall be listed in Greenland.
The Greenland representative office
- The rep office in Greenland shall be incorporated only for
- Market survey or
- To maintain and build contacts and enter the market, and
- Promotion and marketing of the business of the holding company.
The branch office is not allowed to participate in business or manufacturing operations. A local resident representative shall be appointed and this office shall not be subject to the payment of business taxes in Greenland.