Curaçao's financial services sector is quite advanced and many
of the world's leading financial institutions and non-banking financial
intermediaries have offices in Willemstad. The financial sector is
supported by a number of international banks offering a wide scale
of internationally required services. All of the larger international
audit firms are represented in Curaçao. Legal practitioners
and tax advisors are sophisticated in providing expert advice in the
fields of international corporate and tax law. Curaçao's banks,
trust offices, and other financial institutions have the resources
and technical capabilities to accommodate all the requirements of
its international clientele and their various methods of payment.
The commercial banks are also equipped with trust, insurance, and
investment departments that provide local and international services.
The banking system provides both local and international services
in an environment of confidentiality, while ensuring security, credibility,
As part of the further development of Curaçao as an international
financial center, a Securities Exchange became operational in 2000.
The Exchange is called International Financial Center & Exchange
(IFCE) of Curaçao. IFCE serves as an international facility
for member organizations through which the members can have access
to securities exchanges around the world. In addition, IFCE also has
a Securities Trading System, which allows trading members to place
orders for their clients or for their own account. These securities
may include mutual funds and other financial instruments.
In response to the IMF recommendations, the Netherlands Antilles has
introduced a new fiscal framework, which aims at 1) repealing the
tax regime for offshore companies so that the Netherlands Antilles
will no longer be characterized as a tax haven; and 2) concluding
favorable tax arrangements with the Netherlands and other countries
so that investing in the NA becomes more attractive for companies.
April 17, 2002, the Netherlands Antilles and the United States signed
a Tax Information Exchange Agreement.