||Curaçao has been recognized for decades
as a leading international financial center for international transactions
and international offshore financial corporations. As a result of
focused and large scale investments, the island built the highly efficient
and sophisticated infrastructure required to support the needs of
legal, accounting and financial services practitioners. State-of the-art
telecommunication facilities, the availability of multi-lingual staffs
and regular airline connections to Europe, Latin America and the United
States all combine to make Curaçao the most desirable and suitable
business location in the Caribbean.
low levels of corporate income taxes which are applicable to various
types of financial "offshore" corporations are tailored
to accommodate any specific needs. The fact that in Curaçao
based international corporations are taxed on their worldwide income
has the benefit that in many countries corporate shareholders can
receive the dividend income distributed by the Curaçao corporation
at preferred tax rates in their home country.
Constituting a part of the Kingdom of the Netherlands implies that
in Curaçao based international corporations can make use of
the "Tax Agreement for the Kingdom". Under certain circumstances
this can lead to interesting international tax savings opportunities.
There is also a tax treaty with Norway.
Curaçao's banks, trust offices and other financial institutions
have the resources and technical capabilities to accommodate almost
all requirements of its international clientele.
The financial system is supervised by the Central Bank of the Netherlands
Antilles in an environment of confidentiality, while ensuring security
Legislation is based on the Civil-law system and is rooted in the
Netherlands and other EC countries. Legal disputes may be ultimately
appealed to the Supreme Court in The Hague.
The financial sector endorses the efforts which are undertaken by
most industrialized countries to prevent the financial system from
being abused for criminal purposes. The financial sector of Curaçao
has adopted the Statement of Principles recommended in 1988 by the
International Committee of Banking Regulations and Supervisory Practices
(The Basle Committee). In the footsteps of other industrialized countries
the Parliament of the Netherlands Antilles is preparing legislation
requiring banks and financial institutions to report "unusual"
transactions by their customers to a specially created, independent
reporting office which will be forming part of the Ministry of Finance.
Also legislation is expected, obligating banks to determine the full
identity of a client prior to entering into a client relationship.