Arctic Fishery Alliance

Ownership Structure

The HTAs from the four communities and the four community trusts entered into a partnership agreement that enables increased participation in the commercial fishery for more residents of Nunavut. It also strengthens the economic fibre of communities in the Nunavut high Arctic which is an important step in Canada’s goal of protecting northern sovereignty.

The AFA is structured as a limited liability partnership (LP) with the HTAs and the communities as owners. The LP structure offers tax advantages by reducing taxes on fisheries profits, thereby leaving more funds to reinvest in the fishing enterprise and for community development projects.