Curacao
NEWS
FACT FILE
Location Curacao is 40 miles north of Venezuela.
Time Zone Greenwich Mean Time – 4.
Population App. 150,000
Capital Willemstad
Airport Hato International Airport
Language Dutch, English and Papiamentu, Spanish is widely spoken.
Currency Netherlands Antilles guilder (ANG), fixed rate with the US$ at ANG 1.78.
Dialing Code +599 (9)
Centre's Expertise Financial Services, Tourism, Oil Refinery
Political System Autonomous jurisdiction within the Kingdom of the Netherlands with a parliamentary democracy. The King of the Netherlands is represented by a Governor.
Legal System Based on Dutch civil law system with Anglo-Saxon common law influences (such as a Curacao Trust)
Personal Income Tax Residents pay income tax and social premiums on their worldwide income, while non-residents only pay income tax on Curacao sourced income. Income tax rates vary from 12% up to 49%
Corporate Income Tax Corporate residents are taxed on their worldwide income. Non-resident companies are taxed on Curacao sourced income only. Tax rate is 27.5% E-zone companies are subject to 2% income tax. A new export regime has an effective tax rate of app. 4%
Exchange Restrictions A 1% license fee is calculated as a percentage of the gross outflow of money on foreign currency cash transactions. Exemptions are widely available.
Tax Treaties Norway, the Netherlands and Aruba.
Permitted Currencies All currencies are permitted.
Minimum Authorised Capital No minimum capital required
Minimum Share Issues One participating share with full voting rights or one participating share and one share with full voting rights required
Shelf Companies
Incorporation Time Scale 1-5 days.
Incorporation Fees App. ANG 2,250/US$1,250 for theincorporation, without external management.
Annual Fees Annual management service fees vary from US$1,500 to 3,000 depending on the nature of requested service, ie solely domicile or active management.
Minimum Number One director is required, either a corporate entity or a private individual.
Residency Requirements One director should be a local resident, either as a corporate entity of a private individual.
Corporate Directors Corporate directors are allowed.
Meetings/Frequency A minimum of one board meeting a year is required in order to approve the financial accounts unless the Articles of Incorporation determine otherwise.
Disclosure Filing of corporate income tax returns.
Bearer Shares It remains legally possible to issue and hold bearer shares in the case of a Naamloze Vennootschap (NV; Public Limited Company). Shareholders have to be reported in the corporate income tax returns.
Minimum Number One
Public Share Registry N/A.
Meetings Frequency A minimum of one general shareholders meeting a year is required in order to approve the financial accounts unless the Articles of Incorporation determine otherwise.
Annual Return Corporate income tax returns must be filed annually.
Audit Requirements Financial statements must be prepared annually, based on IAS, IFRS or Dutch GAAP
Registered Office Corporate entities have to be registered on the territory of Curacao. Transfer of management and control as well as the statutory seat to and from Curacao is possible.
Domicile Issues Domicile is eventually determined by reviewing effective management and control of the company.
Company Naming Restrictions Restrictions only apply if corporate entities choose names similar to already existing corporate entities.
ARTICLES
What May the Trump Presidency Mean for the Future of International Financial Centres?
  Simplification of the US tax code, FATCA, De-regulation, Immigration: Alicia Nicholls discusses the various implications of US Tax Reform for IFCs. (01/12/2017)
Islamic Finance and the Curacao Private Foundation
  Priscilla Lotman and Tamara Stienstra examine the Curacao private foundation, along with changes occurring in the financial world, such as the growing demand for Sharia’a compliant financial products. (01/07/2013)
Curaçao: An Unintended Consequence
  Priscilla Lotman, Frontshore and Tamara Stienstra, Spigt Dutch Caribbean examine how Curacao has developed into a well known IFC from very humble beginnings. (01/03/2013)
Curaçao – Jurisdiction Overview & Update
  Koen van Baren provides an update on developments within Curaçao since the dissolution of the Netherlands Antilles. (01/04/2012)
Caribbean Review 11/12
  The Caribbean Review featuring in-depth articles, commentaries on all the latest legislative and regulatory issues facing the Caribbean, now available online and in pdf format (01/12/2011)
The Netherlands Antilles as an international financial centre
  Jeroen Adeler details the main features of the Netherlands Antilles corporate tax and legal system and outlines the jurisdiction’s most used incentives. (06/01/2009)
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FURTHER BACKGROUND INFORMATION
  Curacao Tax Treaties
  Curacao currently has 26 tax agreements in place consisting of 4 DTAs and 22 TIEAs. - read more...
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