A bill being considered by the US Congress would allow 3000 foreign workers and investors permanent residency in the Northern Marianas.
The territory's delegate to congress, Gregorio Kilili Sablan, said the bill gave certainty to businesses and would stabilise the labour market.
Currently, businesses have to apply for annual permits for their foreign workers, through a system panned as complex and bureaucratic.
If passed, the bill would have to go to the Senate and US President Donald Trump for approval.