When we think of the Caribbean, we always think of its paradisiacal beaches, landscapes, and history, combined with a beautiful European touch thanks its Dutch heritage. Undoubtedly, a jewel in the middle of the sea. But what we are most interested in about Curaçao is its advantages for the incorporation of offshore companies.

Curaçao is a small island located in the Caribbean Sea, belonging to the Kingdom of the Netherlands. Together with Aruba and Sint Maarten, it became an autonomous territory in 2010. Its small size, landscapes, and attractions have turned it into an important tourist destination for the whole continent and the world, this being one of its primary sources of income, thanks to its impressive tropical climate.

Set up as a parliamentary democracy, led by a prime minister with the King of the Kingdom of the Netherlands as head of state, this small country combines natural beauty with business acumen. With English, Dutch, Papiamento, and Spanish as common languages, its capital, Willemstad, is the country's leading business center, not to mention its designation as a UNESCO World Heritage Site.

Curaçao has a very open economy and relies heavily on tourism and offshore financial services. The lack of significant natural resources has meant that most of its goods are imported, which has made it necessary to create incentives for foreign investment in the country. And it has paid off.

Being an attractive offshore destination has a history behind it. Curaçao's offshore financial sector was born in the mid-20th century when Dutch companies sought a safe place to flee the Nazi occupation of Europe. Since then, this country has improved and developed advanced business infrastructure, much better than its neighbors.

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Lifestyle

The lifestyle in Curaçao, if you are a tourist, is more than impressive. Its standard of living is among the highest in the Caribbean, thanks to an economy based on oil refining, financial services, and tourism. Curaçao's 150,000 inhabitants come from more than 40 countries, which deepens a substantial cultural mix that only adds to the attractiveness of this small Caribbean island.

Beaches, historical sites, gastronomy, casinos, and much more make Curaçao a "must visit" for those looking for new life experiences. Most of the essential activities occur in the capital, Willemstad, home to all kinds of businesses.

The cultural mix ranges from a cosmopolitan aspect of the country, given its reputation as a "business paradise", to a very Latin American sensibility, loaded with good humor, friendly people, and a great atmosphere. With all this mix, there is no room for intolerance of any kind. Economic stability, security, and a very well-developed economic system make Curaçao a real place for dreamers.

To live in Curaçao legally, some licenses must be processed for the opportunities offered, such as residence and work permit. Those are under the guardianship of the Curaçao Chamber of Commerce and Industry.

Economy

Curaçao has made the most of its limited natural resources, and developed a reasonably strong economy based on tourism, oil processing, and, of course, financial services. The latter is particularly important to us.

Financial services in Curaçao are stipulated under the legal frameworks of the Trademark National Decree of 2000 and the Trademark National Ordinance of 1996. These legislative frameworks are all in turn supported by the laws of the Kingdom of the Netherlands.

Moreover, Curaçao has an excellent natural harbor that can accommodate large tankers, and the port of Willemstad hosts a free zone and a dry dock. Most of the supplies for oil for the refinery are imported from the United States and Asia. 

An imminent guarantee for investors in this island is that, as part of the Kingdom of the Netherlands, Curaçao is protected by a well-developed European country. The support Curaçao has received during the pandemic to mitigate its impact on tourism has ensured stability for its nationals and investors.

A foreign investor has plenty of options to invest its capital in the island. Curaçao offers licenses and national companies as an option to be officially part of the economic system.

Business Environment

The capital, Willemstad, is the main center of international business operations in Curaçao. The city has one of the best-developed telecommunications infrastructures in the region, making this small country a great place to consider when planning your next investment.

To encourage foreign investment, the government does not impose restrictions on foreign-owned companies. On the contrary, the Curaçao government heavily promotes such businesses abroad in search of the high profits they can make.

In addition to the freedom to set up businesses through licenses and companies on the island, the government has developed other attractions to attract foreign investors. One of these attractions is the economic free zones.

In Curaçao, there are free zones in the port of Willemstad, the international airport Hato-Curaçao and the industrial park. These free zones are considered some of the region's best trade and distribution facilities, trusted by more than 30 million consumers. But what makes them so good? Let's take a look at some of their advantages.

These zones function as distribution centers for import and export activities. Curaçao's main trading partners are America and the EU. Where's the beauty? No customs duties are imposed on the import, transshipment, and export of goods; foreign exchange transactions in respect of goods in the free zones are exempt from commissions. In addition, the tax on profits generated by export is only 2%. Import, export, and transit of goods are entirely tax-free, and special tax incentives are offered to free zone companies.

These are pretty good advantages for foreign investors. Those interested in doing business in these zones must apply to the local authority before being granted permission to conduct business. If the applicant gets the green light, they still have to respect some quality, prices, and distribution criteria. This is an excellent option for investors.

Curaçao has made a great effort to develop a stable, functional, and attractive commercial and exchange structure for those willing and able to invest in it, promoting great benefits and few restrictions. That is why in combination with its paradisiacal landscapes, its Caribbean lifestyle, and its financial advantages, Curaçao is the ideal country for you and your investments.

What can we do for you?

In Mundo, we have a wide network of experts who are working day and night to provide insights for business opportunities that may arise around the globe. 

Curacao is no exception. Our partners in this paradisiac island can provide you a full list of world-class services, including the following:

- Asset management

- Investment advice

- Trading on the Dutch Caribbean Securities Exchange (DCSX)

- Creating a company 

- Setting up an account

- Getting financial licenses (including gaming licenses)

Curaçao is a desirable destination for tourism and the search for new experiences. But its business sector also has enormous advantages to offer.

At Mundo, we are here to answer any questions you may have about starting your next business. Without a doubt, this Caribbean paradise is a wise choice.

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