Curaçao has had a strong grip on Covid-19 cases over the past few months. After a slight increase at the beginning of the year 2022, it has again managed to establish control.

With many countries in the region still dealing with the economic consequences of the pandemic, Curaçao is already well on its way to recovering its income and business, achieving significant growth in tourism and other areas.

Similarly, Curaçao’s authorities are forecasting significant economic growth by 2022, thanks to foreign investment and pandemic control.

You can learn about this and much more in our latest news section.

The Curaçao Government introduces a new Digital Nomad Visa

Only a year ago, Curaçao launched the “Home in Curaçao'' program. Thanks to this initiative, workers will be able to live and work on the island for an initial period of six months, with the possibility of renewal for another 6 months!

To access this program, only an online application is required, which costs only $294. Sam Kruiner, from the Curaçao Investment and Export Promotion Agency (CINEX) offered an interview where he explained the main points of this new program. Kruiner said that the program eases the entry to Curaçao of these groups: Remote Workers/Digital Nomads, Hibernators, and Investors.

The officer said that Digital Nomads find in Curaçao a different place with a pace of life that suits them wonderfully, where they can adapt and live togetherwhile continuing with their jobs remotely. 

Undoubtedly, this is an important option and a great opportunity for those who wish to try a new lifestyle, besides representing a great adventure, where they will get to know new cultures, traditions and ways of living.

The Curaçao Government set new international travel restrictions from December 31st, 2021.

Although cases and contagions on the island have been kept under control, according to government sources, new restrictions and regulations have been established for travelers considering going to the island. 

First of all, the Curaçao government categorized all countries within its "very high risk" list in terms of the threat of contagion, so if you are planning to travel to Curaçao in the near future, you must comply with a series of preconditions.

To enter Curaçao, you must complete a digital immigration card before traveling and a Passenger Locator Card (PLC) within 48 hours prior to departing for the island. These travelers must also have proof of a negative result from a PCR test taken 48 hours before their flight and must take an antigen test on their third day in Curaçao.

In any case, the Curaçao authorities will accept the DCC (Digital Corona Certificate) of Curaçao, Aruba, Bonaire, Saint Maarten, Saba, St. Eustatius, and the EU as official proof of vaccination, and allow holders of these documents to travel to the island with such proof of completed vaccination.

The government of Curaçao did not provide an estimated date for the lifting of these restrictions, which became effective from the beginning of the current year 2022. But they assured that they are monitoring the international situation and that the content of the different lists of countries (very high risk and very low risk) will vary depending on how these countries handle the sanitary crisis.

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Curacao keeps up its tourism rebound

According to information from the Curaçao Tourist Board, The tourism sector has continued to recover, as shown by the figures for last December. This Dutch Caribbean Island had a total of 265,000 visitors during 2021.

Although these figures remain below the 2019 numbers (last pre-pandemic year), Curaçao authorities have affirmed that the island culminated an excellent year in terms of tourism and that they are on the right track to match and exceed the 2019 numbers. “We are satisfied with the progress made in the last months of the year, recovering from the slow start. The collective effort from our local stakeholders combined with our international partners in our main markets made the last six months of the year a success. Assuming the trend continues, we forecast an even better tourism performance in 2022”, the Curaçao Hotel and Tourism Association said in a statement.

This is promising news for the Curaçao tourism sector and all international investors. Let's remember that Curaçao, being a tourist paradise in the Caribbean, with wide recognition for its transparency in business, is one of the main financial centers in the region, with important commercial ties with the United States, the European Union, and many other jurisdictions.

If the authorities forecasts for 2022 come true, we could be talking about a promising sector for new investments. Keep an eye on it.

Economic growth is projected to accelerate across the monetary union in 2022

The monetary union of Curaçao and Saint Maarten experienced important growth in 2021. Real GDP expanded by 4.0% in Sint Maarten, and Curaçao registered a slighter expansion of 1.7%, as the country went into a 6-week lockdown in March-April 2021 because of a rise in COVID-19 cases. By 2022, economic growth is expected to continue, with considerable increases in GDP for Sint Maarten (14.6%) and Curaçao (6.6%).

But what is really important about this growth is that Curaçao's estimated real GDP expansion in 2021 was boosted by external net demand. It contributed positively to real GDP due to an increase in exports of both goods and services. In particular, foreign exchange income from both tourism and ship refurbishing increased.

According to this, several sectors, like tourism and real estate could have an important boost during 2022, thanks to private investment and several projects. However, “this recovery is surrounded by high uncertainty, of which the main downside risk is the emergence of new COVID-19 variants combined with travel restrictions that could dampen the further recovery of tourism activities in Curaçao and Saint Maarten”, said CBCS President Richard Doornbosch in the presentation of the Second Quarterly Bulletin for 2021.

In any case, although there are good forecasts, it is necessary to keep in mind that the Covid-19 pandemic is not over and that it could still disrupt the plans of different investors.

Curaçao pre-selects refinery contractors while waiting for PdV.

The Curaçao owned company RdK has shortlisted potential companies to operate the oil plant on the island and is awaiting a meeting with the former administrator of the plant, the Venezuelan oil company PDV.This facility has been out of operation since the contract with the Venezuelan oil company expired in December 2019.

The Curaçao company stated that it will be receiving bids and proposals for a new lease until the end of February 2022. In addition, RdK noted that more than 20 companies have shown interest in the oilfield site.

Curaçao has not made public the list of companies that are in this pre-selection, which among other issues, seeks to reactivate the production of oil facilities. This is not the first time that RdK has sought to replace its former partners in the management of the plant, but so far, they have not been able to establish a new agreement with any other company. Former suitors include China's GZE, Germany's Klesch, and a consortium led by the Dutch contractor Corc.

Investors and companies from all over the world are waiting to see what will happen with this oil plant located in one of the most stable and potential countries in the Caribbean, which only increases its attractiveness. The next few weeks will be crucial to know the course of this important industry in Curaçao.

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If you have a business in a country other than your own, or if you intend to start one, it is more than necessary for you to be aware not only of the existing laws and regulations but also of the latest news concerning this country. You should be aware of the businesses performance and economic development .

With that in mind, visit our website or contact us to keep up to date with each and every news in Curaçao. You will need it!

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