Act on commercial farming (No. 6 of 2009).

The Act aims to contribute to Greenland's self-sufficiency by promoting an efficient and competitive agricultural industry through long-term activities as well as through initiatives with positive socio-economic impact. It provides business promotion loans and credits to individuals or companies engaged in farming activities, such as purchase of machinery, keeping of animals etc.
Granting of such subsidies require that projects are technically sound, with a long-term economic viability and proportioned to the expected financial returns. Applying candidates must be between 21 and 65 years of age and currently engaging in agriculture activities. Grants are awarded according to the size of the agricultural area and the nature of work planned and paid out when documentation of the completed work has been submitted. Grants for the construction or acquisition of self-built constructions cover a maximum of 95% of documented costs of materials used while extension of existing constructions may be subsidized with a maximum of 75% of documented costs of materials used. Grants may be given for a maximum of 25 years.
The Act consists of 10 Chapters: Purpose and principles of business (1); Definitions (2); Guiding principles for the allocation of business promotion loans and grants (3); Details concerning of commercial promotion loans (4); Modalities for funding (5); Particulars on credit management (6); Conditions for business promotion loans (7); Repayment of grants for construction or acquisition of commercial buildings and self-built house (8); Debt reduction and cancellation of commercial promotion loans (9); Common provisions (10).