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Thursday | October 19, 2017  

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Curacao with its world heritage capital Willemstad, its size of 444 square kilometres and its approximately 160,000 inhabitants of all nations of the world, lies in the South Western part of the Caribbean Sea, in between Aruba and Bonaire, some 40 miles opposite/North East from the coast of Venezuela, some 2 hours flying from Miami USA, and some 9 hours flying from Amsterdam.

Curacao is lucky to have one of the best naturally protected deep water sea ports right in the middle of the island, in Anna Bay. Curacao’s Hato International Airport with its runway of over 3.400 meters can handle all present wide body airplanes.

For already over 300 years Curacao forms part of the Kingdom of the Netherlands. The Kingdom consist of The Netherlands/les Pays-Bas in Europe (“Holland”) and the Caribbean island territories of Aruba, Bonaire, Curacao, St. Eustatius, St. Maarten (Dutch part) and Saba. The constitutional monarch of the Kingdom is at present Queen Beatrix of Orange.

By October 10, 2010, Curacao will obtain the status of ‘proper state’ (“Land”) within the Kingdom of the Netherlands . At that same date, the present state Netherlands Antilles will be dissolved. The Kingdom Government, residing in The Hague, Holland, will remain responsible for Curacao’s Defence and its Foreign Affairs.

Curacao is a civil law jurisdiction, with a legal and judicial system that is very similar to that of Holland. Contrary to Holland, Curacao is not a member of the European Union, but an associated member. As a result of this, Curacao law does not per definition comprise all the European law and regulations that for many subjects form an integral part of the law of The Netherlands.

All judges in the Kingdom are appointed for life by the Queen and serve fully independent from the Government and its Departments and Services. The Supreme Court of The Netherlands located in The Hague, Holland, also functions as the Supreme Court of Curacao.

The system of government of Curacao is the parliamentary democracy based on the Dutch model. Free elections are held every 4 years. Curacao has full internal autonomy.

Curacao has been an important centre of financial services since the end of WWII. The since then well established financial sector is supported by a number of banks offering a wide range of internationally required banking services. All of the larger international audit firms are represented on Curacao. Legal practitioners, notaries and tax advisors are providing expert advice in the fields of international-, corporate- and tax law.

Because of the implementation of new tax legislation in 2002, Curacao is in compliance with OECD, FATF, EU and AML regulations and is white-listed by the OECD. The number of Tax Information Treaties and Treaties on the Prevention of Double Taxing is rising.

All resident banks, insurance companies and trust services providers need to be licensed by and fall under the supervision of the Central Bank of the Netherlands Antilles.

Civil law notaries appointed by the Queen and attorney’s at law admitted to the bar fall under the correctional oversight of their peer-organizations
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¹In view of this change to ‘proper state’ by 10-10-2010, the contents of this page are reflecting and in that sense previewing this new status of Curacao

 
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