Departure formalities
Before moving from the Faroe Islands, there are several formalities and arrangements that you need to deal with.
When moving from the Faroe Islands to another Nordic country, the relocation must be reported to the municipality where you will be living.
The relocation will not be registered in the Faroe Islands until the municipality to which you are moving has informed the municipality in the Faroe Islands.
When moving from a Faroese municipality to a country outside the Nordic region, the Faroese municipality must be notified before you leave.
When moving abroad for less than six months, the registered address in the Faroe Islands can be retained unless you rent out your house or flat.
It is advisable to keep information about the Faroese ID-number in case you will be in touch with Faroese authorities later on.
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It is possible to keep the Faroese bank account and internet bank after leaving the Faroe Islands. It is important to keep the bank account open for approximately one year in case you receive reimbursements for e.g. tax or deregistration fees.
Mortgage loans in the bank can be kept as long as the debts are paid. If you sell your house, the loan must be paid back.
Car loans in the bank must be paid back when the car is deregistered.
You will receive a pre-completed tax statement , which contains an overview of your income and deductions in March after having left the Faroe Islands. If the pre-completed statement is incorrect, you will have to submit a tax return containing the correct information.
Excess tax, if any, will be paid out to your Faroese bank account.
It is important that you inform the Faroese Tax Office if you change your address after having left the Faroe Islands.
Employees with an employment contract will get unused holidays paid out as salary when they leave their job.
Hourly-paid employees get 12 percent of their wages earned from April 1st to March 31st, paid out as holiday pay on May 2nd.
Overtime work is paid by the hour, and employees with a fixed salary will have holiday pay for overtime work paid out on May 2nd.
Foreigners who have holiday pay due must keep their Faroese bank account until they have received their pay.
If you want to take your Faroese registered car with you when you leave the Faroe Islands, you will have to deregister it.
When derigestering the car, you are entitled to a refund on part of the paid registration duty. The amount will be transferred to your Faroese bank.
Nordic citizens who are moving from the Faroe Islands to another Nordic country can have their membership of the Faroese Unemployment Scheme transfered to an unemployment scheme in the country they are moving to.
In order to get transferred to an unemployment scheme in another Nordic country, you will have to obtain a certificate from the Faroese Unemployment Scheme proving your membership three weeks before you leave. The certificate and pay slips from your employer must be handed over to the unemployment scheme in the country you are moving to within 8 weeks after your membership of the Faroese Unemployment Scheme has expired.
In order to get unemployment benefit in the country you are moving to, you must be able to document that you have been employed for a certain period of time. The length of the period varies from country to country.
If a parent moves from the Faroe Islands to another Nordic country while being on paid leave from the Parental Leave Fund, she or he can receive payments from the fund until the end of the parental leave period. The parents can choose to receive payments from the parental fund in the country they are moving to instead.