Curacao, located in the Caribbean region, is a constituent country of Netherlands. It is composed of main island of Curacao and the smaller uninhabited Klein Curacao Island. Like most of other island countries, Curacao also depends heavily on tourism for its economy. Along with this, this Caribbean country is also providing facilities for foreign investors to setup offshore companies as the government wants diversification of economy. For this purpose, there is complete tax exemption for these corporations in Curacao. It is the reason that such company is commonly known as Curacao Tax Exempt NV Company.
Following are few important benefits that distinguish these tax exempt NV companies from other companies in Curacao and place them among offshore corporations.
- NV companies’ shares can wholly be acquired by foreigners. They can own 100% shares of such corporations
- These offshore companies (Qualified NVs) can get 100% exemption from all types of taxes. On the contrary, other NV companies are required to pay 2% to 3.2% corporate tax. Companies have to disclose their managers, beneficiaries and financial activities to government to be exempted from taxes
- Only a single shareholder and director are required to incorporate Curacao offshore corporation. Both these positions can be taken by a single entity (person or corporation)
- Shareholders and directors can be of any nationality and can reside anywhere in the world
- Company secretary and other officers are not required
- The office of local registered agent can be the NV’s registered office
- Curacao is under Netherlands administration and Dutch is the main language in the country. But English is well understood here and it is the second official language in the country. Documentation of offshore company is conducted in English language
- There is no minimum authorized share capital to establish tax exempt NV Company in Curacao
- In order to accelerate the incorporation process, the government has now eliminated the previous condition of approval from ministry before setting up an NV corporation
- Articles of Associations can be written in any language that makes them easier to understand by foreigner of any legal system
Curacao may not be as confidential location for offshore companies as many other jurisdictions, but it provides several other benefits to NVs. Apart from that, establishing company in Curacao is completely safe as it is an accepted jurisdiction of OECD and other international organizations. For further details and assistance, you can contact DOCS via our landline # 971-4-5586339.