US EditionWary of US investors, Greenland lawmakers push to pass foreign investment screening law
Legislation aims to protect housing and public order by requiring disclosure and review of foreign investments, with 20,000 residents in Nuuk potentially affected, officials said.
- A sudden rush of U.S. buyers in Nuuk during January 2025 accelerated Greenland's territorial parliament's push for foreign investment screening legislation presented in October.
- Balancing economic need and security, Greenland's leaders said last year, property limitations were precautionary measures, not linked to specific info, to control Nuuk's housing supply while considering U.S. investment.
- The draft requires investors to disclose funding and mandates review for key sectors including infrastructure, information technology, mining, hydroelectric power, and government-controlled enterprises, while Danish oversight excludes U.S. military operations.
- Business Minister Naaja Nathanielsen told Reuters the screening law was not a U.S. response, while Greenland's administration had tightened property rules by February 2025 and reported no formal application from Drew Horn, former senior Trump administration official.
- Originally aimed partly at Chinese investment, the screening law avoids singling out nations and encourages allied cooperation, while Greenland MPs warn, `If someone is working for Trump, we will find out with this screening law.
7 Articles
7 Articles
Wary of US investors, Greenland lawmakers push to pass foreign investment screening law
A surge in property interest from U.S. buyers in Nuuk early last year prompted lawmakers to rush through curbs on foreign purchases and shifted the focus of Greenland's upcoming foreign-investment screening law, lawmakers and other people familiar with the matter said.
A proposed law would allow authorities to investigate the origin of funds. This was prompted by distrust of US investors.
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A sudden wave of American property buyers in Greenland's capital city prompted lawmakers to quickly implement foreign investment restrictions. The activity coincided with President Trump's renewed interest in asserting control over the Arctic territory.
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