Aruba: Country and Foreign Investment
Aruba offers an extremely stable and efficient business environment with modern infrastructure and excellent telecommunications. Special fiscal incentives are offered to both companies engaged in offshore activities and to companies engaged in export of non-traditional manufactured products and which are licensed to operate in the Free Zone (see below).
Being a civil law jurisdiction Aruba does not recognize the concept of a trust. There are no specific bank secrecy laws in place and numbered accounts are not permitted. An offshore company requires a certificate of good standing from the Minister of Justice prior to its incorporation and such a certificate will only be offered upon the production of adequate professional references on all the beneficial owners of an incoming entity. Corporate bank accounts cannot be opened without the production of the certificate of good standing.
A number of agreements are in place under which the authorities exchange information with foreign states. Aruba aims to attract quality clients and sustainable economic activity driven by an attractive regime of fiscal incentives. An extensive financial and professional infrastructure is in place and English is widely spoken in business life. Aruba is a relatively cheap jurisdiction in which to operate.
A business license and registration with the chamber of commerce are prerequisites for the carrying out of most types of business activity in Aruba. The issue of a license is not automatic.
All natural and legal persons carrying on business in Aruba are obliged to provide information to the tax office.
Manufacturing exporters in Aruba can benefit from a number of preferential tariff regimes in destination markets. Apart from tariff-free entry into the EU for Aruba-origin goods, Aruba is a designated territory under the US Caribbean Basin Economic Recovery Act 1983. The centerpiece of this program is duty free entry into the USA of a wide range of products grown or manufactured in, and directly imported from, a beneficiary territory provided that at least 35% of the article's customs value is attributable to the beneficiary territory.