About Greenland

In Greenland, mineral development is given renewed political attention and priority. Greenland is a stable European democracy, with a Home Rule and strong ties to Denmark. The majority of the population of 56,000 lives in the ice-free coastal area of the country, which is about the size of France. Today the economy relies mainly on fishing, yet the government is also actively pursuing responsible natural resource development. Greenland has a positive outlook toward mineral exploration and development, and has a "one door" mineral policy. There are no restrictions on foreign investment.

Greenland remains relatively unexplored in terms of its mineral potential. However, the Geological Survey of Denmark and Greenland (GEUS) has conducted regional airborne geophysical surveys, and extensive mapping programs over the whole country over the past 50 years.

The corporate income tax is 30%, and assets can be depreciated 100% in the first year of production. Tax losses can be carried forward for an unlimited period and, in certain cases, can be carried back for five years.