Greenland’s parliament has adopted legislation limiting foreigners’ right to own property on the vast Arctic island, following mounting interest from U.S. investors on the Danish territory coveted by President Donald Trump.
The text was adopted late Thursday by 21 votes, with six lawmakers abstaining.
Non-Danish citizens and foreign companies will only be allowed to buy property or land-use rights if they have been permanent residents and paid all their taxes in Greenland for the previous two years.
“People with Danish nationality can buy a property and land-use rights in Greenland,” the new law specified.
Earlier this year, a survey conducted by Danish daily Politiken showed there was growing U.S. interest in acquiring property in Greenland.
Since returning to the White House in January, Trump has repeatedly said the U.S. needs the strategically located, resource-rich island for security reasons, and has refused to rule out the use of force to secure it.
The new legislation means only people and companies from Greenland, the Faroe Islands and Denmark will be allowed to buy property and land-use rights in Greenland.
The new law is due to enter into force on Jan. 1.
