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Guidance Living in South Korea
Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.
Trade with the Faroe Islands
How you import to and export from the Faroe Islands.
UK-Faroe Islands trade agreement
The UK has signed a trade agreement with Denmark in respect of the Faroe Islands (the UK-Faroe Islands trade agreement), which is in effect.
This guidance provides information on aspects of trade covered by the UK-Faroe Islands agreement. It is for UK businesses trading with the Faroe Islands.
What the agreement includes
This trade agreement includes provisions on trade in goods (including provisions on preferential tariffs, tariff rate quotas and rules of origin).
Tariff rates on goods
Tariff rates for bilateral trade in goods between the UK and the Faroe Islands continue to apply as set out in the agreement. However, in some cases, the non-preferential applied rates may, in fact, be lower because of changes in the UK’s Most Favoured Nation tariff schedule.
Tariff rate quotas
Tariff rate quotas in the agreement have been tailored specifically to the UK.
Rules of origin
Claiming preferential rates for your exports from the UK
Unless you are permitted to provide an origin declaration, you will need to fill in a certificate of origin to claim preferential treatment.
The UK continues to use the EUR1 and EUR-MED format for movement certificates with trade partners that have mutual FTAs with the EU, including the Faroe Islands. These movement certificates are identical to those previously in use, but the place of origin on the certificate is now marked as the United Kingdom instead of the European Community. EUR1 and EUR-MED certificates of origin that have been updated to show the UK are now available from your usual provider, such as the chambers of commerce.
If you previously used the EUR1 form with a mutual EU trading partner, you can use the new EUR1 form that shows the UK as the place of origin. If you previously used the EUR-MED form with a mutual EU trading partner, you can use the new EUR-MED form that shows the UK as the place of origin.
Using EU materials and processing in your exports to Faroe Islands
You can use EU materials or processing in your exports to Faroe Islands. The UK and Faroe Islands must have fulfilled the necessary requirements set out in the Rules of Origin Protocol. You must also ensure the working or processing you do in the UK goes beyond the minimal operations listed in the agreement and that the other relevant conditions are met.
For example, you cannot simply package or label a product from the EU and export it to Faroe Islands as a good originating in the UK.
The ability to consider materials from, or processing carried out in, another country as originating when incorporated into your product is called cumulation.
Using materials and/or processing from other countries in your exports to Faroe Islands
If both the UK and Faroe Islands has a trade agreement with one of the other countries provided for in the Rules of Origin Protocol, you can continue using materials, and in some cases processing, from that country in your exports to Faroe Islands. You must ensure that the working or processing you do in the UK goes beyond the minimal operations listed in the agreement and the other relevant conditions are fulfilled.
Sending your goods to Faroe Islands through the EU and other countries
Goods transited through the EU – and any other country with whom cumulation is applicable – are not subject to the same restrictions as those in transit through other third countries.
For example, you can split a consignment in the EU when exporting goods to Faroe Islands, provided the goods comprising the consignment have not been entered into free circulation in the EU.
Transit through any other third country is possible provided your goods remain under customs surveillance and do not undergo operations other than unloading, reloading or any operation designed to preserve them in good condition.
Goods in transit and retrospective certificates of origin
If your goods were in transit when the EU-Faroe Islands agreement ceased to apply to the UK, you can obtain a retrospective certificate of origin. This shows that the goods originated in the UK and are eligible for preferential terms if your goods arrived on, or within 12 months after the date the UK-Faroe Islands agreement started to apply.
You can get retrospective certificates of origin from your usual provider.