Faroe IslandsKey facts
- Region
- Nordics
- Corporate tax
- 18%
- VAT
- 25%
- Currency
- DKK
- Time zone
- WET
- Language
- Faroese / Danish
- Avg. engagement cost (year 1)
- €13,754
Key advantages
- 18% corporate tax.
- Part of the Kingdom of Denmark.
- Strong fisheries industry.
Entity types
| Type | Full name | Tax | VAT | Min. capital | Setup time | Best for |
|---|---|---|---|---|---|---|
| Sp/f | Private limited company | 18% | 25% | DKK 80.000 | 3–5 weeks | SMEs |
Frequently asked questions
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Company type· Faroe Islands
Get advice on starting up in Faroe Islands
Klaus Garde Nielsen advises on jurisdiction choice, structure and practical setup.
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