Corporate - Other issues

Last reviewed - 06 December 2023

United States (US) Foreign Account Tax Compliance Act (FATCA)

In relation to the US FATCA, a Model 1 Intergovernmental Agreement (IGA) is treated as 'in effect' by the US Treasury as of 29 June 2014. The United States and Greenland have reached an agreement in substance, and Greenland has consented to disclose this status. In accordance with this status, the text of such IGA has not been released, and financial institutions in Greenland are allowed to register on the FATCA registration website consistent with the treatment of having an IGA in effect, provided that the jurisdiction continues to demonstrate firm resolve to sign the IGA as soon as possible.