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Curacao

Curacao Flag

Country: Curacao
Region: Caribbean
Currency: Netherlands Antillean Guilder (ANG) (f)
Languages: Dutch, Papiamento
Time Zone: UTC -4

Phone Code: +5999

Communications: Good

Formation Cost: 900 - 2100 USD$
Formation Time: 7-14 days
Maintenance cost: 100 - 300 USD$

Executive Summary: The jurisdiction of Curaçao was created on October 10, 2010 when the Netherlands Antilles was dissolved and became two separate jurisdictions, the second being Sint Maarten. Approximately 450 sq km in size with a population of 147,000, Curaçao lies about 50 km north of Venezuela; Miami is 2.5 hours by air from Curaçao. Curaçao is a country within the Kingdom of the Netherlands with full autonomy in internal affairs, and its legal system is based on the civil code. The official (and used) language is Dutch, but Spanish and English are also widely spoken, particularly in the capital, Willemstad. The currency is the Netherlands Antillean guilder which is fixed against the US dollar at USD1 = ANG1.79. It had been planned to introduce the Caribbean Guilder for Curaçao and Sint Maarten at the same time that the Netherlands Antilles were dissolved. However, the timetable for the switchover has slipped many times, and there is no fixed date for when it will take place. The economy is largely based on tourism, petroleum processing/trans-shipment and offshore finance. There are no government restrictions on foreign-owned businesses in Curaçao, and inwards investment is encouraged. The business environment is fairly sophisticated and there is a good telecommunications infrastructure. Curacao is phasing out its offshore tax regime, but fiscal incentives are available to foreign investors, and there a number of Free Zones, including an ‘E-Zone,’ within which profits are taxed at 2%.

Suitable for: Shipping, Intellectual Property/Licensing, Holding Companies, E-commerce, E-gaming, Property Ownership
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Vehicle Types: Limited liability companies, exempt corporations, foundations, general partnerships and limited partnerships

Capital primary business districts: Willemstad

Good Relationships: Aruba, Brazil, China, India, Netherlands, Norway, Panama, Sint Maarten

Bad Relationships: Burma, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Heavy

Headline tax rates: CIT 34.5%, PIT 13%-49.4%, VAT 5%

Treaty Jurisdictions: Aruba, Netherlands, Norway, Sint Maarten

TIEA Jurisdictions: Antigua and Barbuda, Argentina, Australia, Bermuda, British Virgin Islands, Canada, Cayman Islands, Colombia, Curacao, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, Mexico, New Zealand, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Spain, Sweden, United Kingdom, United States

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