Aruba: Country and Foreign Investment
This page was last updated on 20 Feb 2019.
Aruba offers a very stable and efficient business environment with modern infrastructure and excellent telecommunications. The government offers special financial incentives both to companies engaged in offshore activities and to companies that export non-traditional manufactured goods that are licensed to operate in the Free Zone.
As it is a civil law jurisdiction, Aruba does not recognize trusts as a concept. There are no specific banking secrecy laws in place and numbered accounts are not permitted. An offshore company requires a certificate of good standing from the Minister of Justice to be incorporated; such a certificate will only be offered if adequate professional references on all the beneficial owners of an incoming entity can be produced. Similarly, an entity wish to open a corporate bank account must provide a certificate of good standing.
A number of international agreements are in place, under which the Aruban authorities exchange information with foreign states. Aruba aims to attract quality clients and sustainable economic activity driven by an attractive regime of financial incentives. An extensive financial and professional infrastructure is in place and English is widely spoken in the sphere of business. Aruba is a relatively cheap jurisdiction in which to operate.
A business licence 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 licence is not automatic. All natural and legal persons carrying on business in Aruba must 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 centrepiece 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.