Doing Business in Greenland - Book - Page 3
2 About
Greenland
2.1 Geography
Greenland is the largest island of
the world with a total area of
2,166,086 km² of which approx. 81
% is covered with ice. All towns and
settlements are located along the
coastline and most of the
population lives in the southern
west coast – including the capital
Nuuk. Most towns and settlements
are far apart, and no roads exist
between these why all travel and
transportation to, from and in
Greenland is made by ship,
aircraft, and helicopter.
2.2 Self-Government
Greenland is part of the Kingdom
of Denmark. The Greenland Home
Rule was established in 1979. In
2009, a Self-Government arrangement replaced the Greenland
Home Rule. These arrangements
have provided for transfer of
political competence and responsibility from the Danish
government to the Government of
Greenland.
Greenland has its own parliament
(Inatsisartut) with 31 members.
Elections are held at least every
four years. The parliament enacts
local legislation applicable in
Greenland. The Government of
Greenland (Naalakkersuisut) is the
executive body.
Greenland has taken over the
administration of a number of
areas,
among other things regulation on
tax, the environment, fisheries,
mineral resources, and hydro
power resources.
Denmark still administers certain
matters, including the Constitution,
foreign and defence policies, the
Supreme Court, citizenship and
monetary policy. Greenland may
take over the administration of all
other areas of legislation.
2.3 European Union
Even though Denmark is member of
the European Union (EU) and
Greenland is part of the Danish
realm, Greenland is not member of
the EU. Thus, Greenland is not
obliged to implement EU legislation
which is also not applicable in
Greenland.
Greenland is member of Overseas
Countries
and
Territories
Association to the EU.
2.4 Industries
The economic activity in Greenland
is dominated by few large
industries. Greenland's main source
of income is fishery - and the
country's export widely consists of
fish and seafood (prawns).
Greenland is also working on
development of various industries,
among others tourism, water and
ice, hydropower, and mining.
Greenland has a wide range of
minerals, among other things zinc,
lead, iron ore, coal, molybdenum,
gold, platinum, uranium, copper,
nickel, and rare earth metals as
well as a range of critical metals.
FACTS ABOUT GREENLAND
Official name: Kalallit Nunaat
(meaning “Land of the
Greenlanders”)
Total area: 2,166,086 km²
Distances: North to south:
2,670 km · East to west: 1,050
km · Coastline: 44,087 km
Climate: Arctic to subarctic
Population: Approx. 56.562
inhabitants (2022)
Capital: Nuuk (19.261
inhabitants (2022))
Languages: Greenlandic
(kalaallisut), Danish
National Day: 21 June
(National holiday)
Currency: Danish kroner
(DKK)
Time zones:
Nuuk: GMT -3 (from 25 March
2023: UTC-2)
Thule Air Base: UTC -4
Ittoqqortoormiit: UTC -1
Danmarkshavn: UTC +0.
