Curacao is one of the five islands that were previously part of a single autonomy – the Netherlands Antilles. After October 10, 2010, the islands of Curacao and St. Martin received the status of self-governing states with significant autonomy as part of the Kingdom of the Netherlands, and the islands of Bonaire, St. Eustatius, and Saba became part of the Kingdom of the Netherlands as municipalities.
The jurisdiction of Curacao is chosen for a stable political system, tax incentives for foreign entrepreneurs, the absence of prohibitions on gambling, and many other advantages. The island receives budget revenues from tourism, oil refining, and offshore business.
Business companies provide their services for Curacao company formation. Businesses can count on a wide range of banking services and the ability to remotely manage their assets through the official website or app.
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Forms of incorporation for a company in Curacao
Curacao offers a choice of the following options for organizational and legal forms of activity:
– NV – open company with limited liability;
– NABV – a private company with limited liability;
– PF – private/family fund;
– BV – closed private company with limited liability;
– general partnership with unlimited liability;
– partnership with limited liability.
Benefits of registering a company in Curacao
It is profitable to do business in Curacao because you can use preferential agreements when exporting to Europe (which makes it possible to use the status of overseas countries and territories) and the United States (in accordance with the agreement of the Caribbean countries). In addition, the offshore territory provides for a simplified way of registering a legal entity/company, reduced tax rates on entrepreneurial income, and simple business reporting.
Consider the main advantages of registering a company in Curacao.
Low tax rates
The jurisdiction of Curacao allows registered companies to deduct only 2% of the profits if the company is engaged in e-commerce abroad. There are also no import duties on imported goods. There is no currency control. Zero taxation is provided for BV companies that conduct foreign economic activity outside of Curaçao. But a local office and director is required. The most common legal forms are BV and PF, they are also used to register a Curacao gaming license.
Easy business process
The minimum requirements for registering foreign companies in Curacao are:
– 1 resident director;
– 1 shareholder;
– resident correspondent;
– annual meetings in Curacao (through a representative).
After registering an insurance or banking company in Curacao, the legal entity will have to file an annual financial report without conducting a financial audit. There are no separate reporting requirements, internal reporting is recommended.
Simplified incorporation method
Registration of a company in Curacao does not require personal presence, this can be done through a representative. The total incorporation period does not exceed 2 weeks, the package of documents provided is minimal. The jurisdiction meets the needs of foreign businessmen and simplifies the registration procedure.
To open a company in Curacao, you will need:
– information about the beneficiary – their identification number. This information is not disclosed and is kept in a closed registry. This is necessary to consolidate data on the ultimate owners and reduce the risk of laundering money obtained by criminal means;
– recommendation from a financial institution;
– data on income;
– information about the future activity of the company;
– confirmation of the address;
– statement.
Specific documents may vary from case to case, but they should always contain information about the interested parties, legal entities involved in the incorporation for a company in Curacao, constituent documents describing the future activities of the business.
Benefits of Curacao Gambling License
1. Stable legislative base. Gambling licenses in Curacao have been issued since 2002, which allows businessmen to be confident in the stability of the legal framework within which their business operates.
2. Soft licensing requirements. The license commission puts forward minimum requirements for the software used in the gambling business, up to the point that casinos can use programs that have not left the beta testing stage.
3. A small set of necessary documents. To obtain a gambling license in Curacao, you need to provide the bare minimum of information – data on business owners, on the financial condition of the enterprise and on the percentage of revenue.
4. One license for all types of gambling business. Having received a license for one type of gambling business, for example, a poker room, you can then open a slot machine hall, lottery or bookmaker.
5. Low tax rates. With a Curacao license, only the tax on net gains is 2%, and the corporate income tax is 0%.
Tax incentives for companies in Curacao
Foreign investors who want to invest in opening a company in Curacao are usually interested in tax incentives. They are provided with investment allowances, a free zone tax regime, favorable VAT (one of the lowest in the world) – 6%, income tax exemption for foreigners and no withholding taxes on specific income repatriated to the countries of origin of investors.
