Investor Screening Act withdrawn from spring session

The new investor screening act, which is intended to prevent foreign investments from posing a threat to Greenland's security, has been withdrawn from the spring session before the second reading. This is stated in the Inatsisartut.

The bill was for first reading during the autumn session on November 11 and was then referred to the Industry and Minerals Committee. According to the plan, the bill should have been on the agenda as item 22.

According to Sermitsiaq's information, the bill has been withdrawn from the session because the new Naalakkersuisut and the department want to get all the details and considerations in place before presentation.

Lack of general legal basis

The purpose of the Investor Screening Act is to ensure that Naalakkersuisut has the authority to prohibit, reject and revoke inappropriate investments, and must be seen in the light of increased globalization.

There is currently no general legal basis that makes it possible to screen foreign investments in Greenland based on considerations of Greenland's security and public order and, if necessary, to take action. There is also no sector-specific legislation that makes it possible to screen foreign investments based on the same considerations.

Shall be applied to all foreign investors

According to the proposal, which was in consultation from September 15 to October 13, the law shall be applied to all foreign investors, both individuals and companies.

Especially sensitive sectors and activities include companies within the defense sector, IT security functions or the processing of classified information. In addition, companies that produce products with a dual-use function and companies that produce critical technology. In addition, critical infrastructure, hydroelectric power plants, the mineral resources sector and self-governing companies are covered.

It is expected that the Investor Screening Act will be finalized in the autumn session of 2026.