Property buyers must have ties to the Faroes

08.12.2021 - 11:15
Aktuelt
Property buyers must have ties to the Faroes
Parliament has adopted a law that specifies who may purchase real estate in the Faroes
Archive photo
 

Foreign nationals with no affiliation to the Danish Kingdom can no longer purchase property in the Faroes without specific government permission.

MPs yesterday voted in favour of a proposal which stated that individuals and corporations wishing to purchase real estate in the Faroes must have a personal or commercial affiliation with the Danish Kingdom.

 >> SEE ALSO Faroese houses in demand among foreign investors

To qualify for purchasing property in the Faroes without government permission, a foreign national must have resided within the Kingdom of Denmark for a minimum total of five years.

The provision about the Danish Kingdom is included in the proposal as the Home Rule Law does not allow for discrimination between Faroese citizens and other citizens of the Kingdom of Denmark.

 

Read the Faroese version of this article here.

More Faroese News in English.

Er kopiera
Nýggjastu sendingar í ÚV
Mánadag 17. januar
Við Tórði á túri um staðarnøvn
134177
Mánadag 17. januar
Nón - 17. januar 2021
134169
Mánadag 17. januar
Norðurljóð 17.januar 2022
133666
Mánadag 17. januar
Nogvir spennandi venjarar í Betri-deildini
134160
Mánadag 17. januar
Greidleiki er lítið brúkt
134135
Nýggjastu sendingar í SV
Sunnudag 16. januar
3-2
134104
Sunnudag 16. januar
Hondbóltur: Luksemburg - Føroyar
134089
Sunnudag 16. januar
Hvør veit?
134088
Sunnudag 16. januar
Andakt við Christiani Gabrielsen
134087
Sunnudag 16. januar
Hondbóltur: Italia - Føroyar
134086