The Centre’s establishment was initially partly funded by the University of the Faroe Islands, Faroese Environment Agency and Landsverk. 

The Faroese Environment Agency took over the responsibility and operation of both the land surveying, geodesy and mapping in April 2019, and the hydrographic related activities in January 2020.  The land covers an area of approximately 1399 km², but the ocean jurisdiction covers an area of approximately 300,000 km².

The centre will support the takeover, as well as help develop expertise and knowledge in the field of geospatial sciences in other parts of society.  Short courses are planned, as well as the organisation of talks and meetings to bring together the geospatial society on the Faroe Islands to learn from each other, as well as attend formal classes and lectures.

Further to this, research is underway focussed on geospatial activities.  Gethin Wyn Roberts, who heads the Geospatial Centre, successfully obtained 1million krona of research funding from Granskingarraiðið to investigate a new approach to monitor the health of ships.  This is in partnership with MEST, Havstovan and the Technical University of Graz, Austria.