Email: faroelaw@faroelaw.fo
Phone: +298 669900
Faroe Law
Areas Of Practice
Data Protection
Faroe Law provides legal assistance and practical advice on privacy and data protection. We have attorneys with international certification from IAPP (International Association of Privacy Professionals) on GDPR and privacy. We can assist with:
- Data processing agreements
- Policies, procedures etc.
- Mapping of personal data
- Outsourcing
- DPO Services
- Training of employees
- Data protection compliance audits
Company Law
Faroe Law provides legal services in all company matters, including public limited companies, private limited companies, private companies, partnerships, limited partnerships, etc. Our advice also includes stock exchange regulation.
We assist Faroese, Danish and foreign companies in choosing company form and formation of companies in the Faroe Islands.
In addition, we carry out mergers, de-mergers, conversions, business ownership transfers, etc., on the basis of specific advice, tailored to the clients’ needs.
In connection with company matters, a client will often need additional advice on employment relations, financing and tax implications. Faroe Law provide legal services within all these areas.
Oil and Gas Law
We have experience of oil and gas law, especially through our office in Tórshavn, in the Faroe Islands.
Developments in the oil and gas area are being monitored closely. The Faroe Islands is an area with very promising, long-term hydrocarbon potential. Unlike many other countries with hydrocarbon deposits, the Faroe Islands are a stable and peaceful country but at the same time an area with its own laws and special practice.
Faroe Law regularly advises clients, including other law offices from a number of countries, on these matters.
Property Law
Faroe Law can assist in a wide variety of areas within Property Law.
Telecom / IT
We have specialist knowledge about telecommunications and IT in general.
In 2003 the EU fundamentally changed the legislation on telecommunications as to regulate telecommunications, IT and media under a common regulatory framework. Our neighbouring countries have since implemented the directives and regulations, which consequently has affected the interpretation and practice of the Faroese Act on Telecommunications. We are vastly experienced in this area, both in the Faroe Islands and abroad.
Additionally we are very experienced in terms of constructing and drafting contracts regarding IT and our experience leads us to consider ourselves experts in this area in the Faroe Islands.
Rental Property Law
Faroe Law has commercial lease experience, acting for both landlords and tenants.
We assist our clients during negotiations on concluding the lease and in drafting the commercial lease contract. We draft the documents necessary for assignment of the lease as part of a business ownership transfer.
In connection with assignment of commercial properties, we assist in making a legal assessment of the lease portfolio.
We provide assistance in connection with rent adjustment at market level and their related court cases. Faroe Law also deals with possession and repossession proceedings.
Specific Legal Matters
Faroe Law can assist with specific legal matters within all fields of law.
Building and Construction Law
Faroe Law has experience of providing advice in construction cases, acting for employer and adviser as well as contractor.
Furthermore we assist in drafting construction, adviser and partnering contracts as well as consortium agreements.
We also conduct court and arbitration cases concerning construction matters, including cases before the Building and Construction Arbitration Board.
Bankruptcy and Insolvency Law
Faroe Law has experience of bankruptcy proceedings, from listed companies to minor, single proprietors.
One of our characteristics is that we aim to reconstruct the failing company. Faroe Law has the necessary resources and expertise to organise operations, typically by suspension of payments, so that a total closing down is avoided and the sound parts of the company are maintained for continuous operation and sale. In this way the values of the company are maintained to the advantage of the creditors and staff interests are taken into consideration.
Furthermore, Faroe Law assist creditors in insolvent estates, for example through participation in creditors’ committees, by conducting avoidance cases as well as by advising on securing creditor claims.
Capital reorganisation
Faroe Law assists in reconstructing depressed companies. In critical cases, we are able to provide immediate assistance at short notice in order to avoid bankruptcy. The sooner we are involved, the better the possibility of establishing the basis for a full or partial continuation of the company.
We have close associations with a large number of Faroese and Danish finance houses, which has often proven important in ensuring quick and successful negotiations.
Competition Law
In the area of competition matters, we provide legal assistance concerning distribution agreements, distributor agreements, franchise agreements, chain co-operation and other kinds of co-operation. In addition, we provide legal assistance relating to the observance of merger control rules in connection with business ownership transfer.
Other competition law issues we deal with include competition and customer clauses and unfair competition from former employees and competitors.
Employment Law and employee conditions
We provide legal assistance in all areas of employment law, i.e. concerning the relations between employer and employee.
Faroe Law offers assistance in connection with drafting employment agreements, including executive agreements, as well as in cases concerning termination of employment and equal rights.
We also deal with issues in connection with employee demands for restructuring and reconstruction, the legal positions of employees as a result of business ownership transfer or with employer’s suspension of payments and bankruptcy.
Intellectual Property Law
We provide assistance in the area of trademark rights and copyright, including registration of trademarks and domain names, drafting of licence agreements and entry on the register of trademark licences.
Furthermore, we assist in connection with infringement of trademark and copyright, including the issuing of injunctions.
Marketing Law
Is it legal to use a quotation from a book in an advertisement?
Is it legal to link to another company’s homepage or refer to a competitor’s products?
Is it legal to use information collected from consumers through “direct marketing”?
We assist in evaluating specific marketing initiatives to ensure that the marketing is within the legal framework. We also assist in connection with conflicts on infringement of IP rights, use of pictures in advertising, goodwill free riding, marketing on the internet, etc.
Tax Law
We possess specialist knowledge about Faroese tax law, especially in a commercial context, but also with regards to advising employees, partnerships, associations etc.
Our expertise includes providing advice regarding the taxation of oil and gas activity in the Faroe Islands.
In addition to advising clients locally and abroad, we litigate in the Faroese courts and in the Faroese boards of appeal representing Faroese taxpayers.
EyðfinnurJacobsen, Attorney-at-Law, has written the textbook “Føroyskur Skattarættur” (“Faroese Tax Law”) which was published in 2010.
Legalisation
Eyðfinnur Jacobsen, Attorney-at-Law, has through his work as attorney and official in the Faroe Islands and Greenland, and additionally as an advisor for public institutions attained comprehensive experience, and we are therefore able to offer this service.