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Fees and timelines in 2023

Fees

payment by instalmentGreenland LLC setup costs in Year 1 will amount to US$6,500 and annual company costs in Year 2 and thereafter will amount to US$3,500. The average fee per engagement amounts to US$14,000 including i) Greenland company incorporation, ii) corporate bank account setup, iii) legal registered office and iv) all government registration fees.

Different Greenland entity typesCostDraft invoice
Tax resident LLCUS$14,000View invoice PDF
PLCUS$16,000View invoice PDF
Branch of a foreign companyUS$15,000View invoice PDF
Representative officeUS$12,400View invoice PDF

Other fee considerations

Timelines

The average Greenland company registration period is 10 weeks as outlined below:

ServiceLLCPLCBranchRep Office
Engagement planning1 weeks2 weeks2 weeks1 week
Company incorporation period2 weeks4 weeks4 weeks2 weeks
Bank account approval3 weeks3 weeks4 weeks4 weeks
Internet banking approval1 week1 week1 week1 week
Engagement completion1 week1 week1 week1 week
Total engagement period8 weeks11 weeks12 weeks9 weeks

greenland business registration engagement period timeline

  • Preparing a detailed project plan;
  • Our Client confirms the corporate structure;
  • Collecting due diligence from our Client.
  • Our Client signs the corporate bank account opening forms;
  • Healy Consultants prepares a business plan;
  • Healy Consultants visits the bank for interview;
  • The Bank Legal and Compliance Department review and approve the banking application;
  • The Bank Front Office email corporate bank account numbers to our client.
  • The Bank Operations Department mails the internet username and passwords to our Client;
  • Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.
  • Healy Consultants confirms all Client due diligence is received;
  • Healy Consultants couriers to our Client the complete original company and bank account documents;
  • Our Client completes our web page feedback survey;

Contact us

For additional information on our company registration services in Greenland, please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal
bank of greenland bureau of minerals and petroleum DCCA GER Government of Greenland
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