Can I get a mortgage on leased land in Nunavut?

Some lenders lend on long-term leaseholds, but terms vary. Ask lenders directly before you commit.

Banking, loans and insurance in Nunavut

Nunavut has no territorial sales tax and no land transfer tax, deposits are protected by CDIC at member institutions, and residents may claim the federal northern residents deductions. Branch access is limited, so online banking terms matter more here.

Deposit protection

Deposits at CDIC-member institutions are covered up to CAD 100,000 per eligible category.

Auto insurance

Auto insurance is mandatory and sold by private insurers, overseen by the territorial Superintendent of Insurance.

Sales and income tax

You pay only the 5% GST. Nunavut has no land transfer tax. Much land is held under lease rather than fee simple, which affects mortgage options.

Local rules by city

Iqaluit

Offers confirmed in Nunavut

These products name Nunavut in the availability terms the provider publishes. Most listings do not state provincial availability yet, so check other categories too.

We are still checking nunavut-specific offers against providers' own websites. Browse the related categories in the menu in the meantime.

Offers the provider lists as nationwide

BDC

BDC Business Purchase or Transfer Loan

Financing to buy, merge with or take over a Canadian business, including some transaction costs.

Repayment: Flexible, with interest-only payments at the start
Eligibility: Business being bought must be Canadian and generating revenue, with an agreed price and clear structure
Uses: Buying a business, competitor or supplier; management or employee buyouts; family transfers; refinancing seller financing
Additional costs: Can include legal fees, moving costs, goodwill and client lists

Full details for BDC Business Purchase or Transfer Loan (opens in new tab)

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BDC

BDC Purchase Order Financing

A loan that pays suppliers directly so a business can fill large customer orders.

Repayment period: Up to 18 months
Payment: Suppliers are paid directly
Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Provinces: Nationwide

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BDC

BDC Technology Equipment Loan

A loan for hardware, software, cybersecurity, digital infrastructure and expert IT advice.

Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses: Servers, computers, software, cloud, AI tools, websites, e-commerce, cybersecurity
Professional services: Can cover IT planning, strategy, security and online sales advice
Provinces: Nationwide

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BDC

BDC Working Capital Loan

A loan for growth projects such as inventory, supplier payments, new markets and hiring, without using everyday cash.

Eligibility: Business based in Canada, generating revenue for at least 12 months, with a good credit track record
Uses: Inventory, suppliers, new markets, product development, IP protection, marketing, hiring and training
Sustainability projects: Energy efficiency and green retrofit projects eligible
Provinces: Nationwide

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Federation of African Canadian Economics

FACE Black Entrepreneurship Loan Fund

Loans up to CAD 250,000 for Black business owners across Canada.

Maximum amount: CAD 250,000
Eligibility: Black business owners
Documents: Business and owner tax returns, personal statement of affairs, photo ID, registration certificate
Provinces: Nationwide

Full details for FACE Black Entrepreneurship Loan Fund (opens in new tab)

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Futurpreneur

Futurpreneur Startup Program Loan

Equity-free startup financing plus mentorship for entrepreneurs aged 18 to 39 starting or buying a business.

Maximum amount: Up to CAD 75,000, including BDC financing, subject to conditions
Age: 18 to 39
Uses: Starting or buying a business
Mentorship: Up to 2 years of one-to-one mentorship

Full details for Futurpreneur Startup Program Loan (opens in new tab)

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Women's Enterprise Organizations of Canada

WEOC National Loan Program

Loans up to CAD 50,000 with business support for women entrepreneurs across Canada.

Maximum amount: CAD 50,000
Term: Up to 5 years
Rate: Fixed, prime plus 4% or less depending on risk
Prepayment: No penalties

Full details for WEOC National Loan Program (opens in new tab)

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Common questions in Nunavut

Can I get a mortgage on leased land in Nunavut?: Some lenders lend on long-term leaseholds, but terms vary. Ask lenders directly before you commit.
Is there sales tax in Nunavut?: Only the 5% GST.

Official sources

Limits and rules can change. Confirm current terms with the provincial body before relying on them. This is general information, not financial advice.