Guide to Doing Business
Prudential supervision of credit institutions is aimed at promoting the stability, integrity, efficiency and safety of the financial system of the countries of St. Maarten and Curaçao and safeguarding the interests of the deposit holders and other creditors. The National Ordinance on the Supervision of Banking and Credit Institutions provides the Central Bank with the legal basis for supervising credit institutions, both onshore and offshore.
Pursuant to the above mentioned National Ordinance, a banking license from the Central Bank is required to operate as a credit institution in St. Maarten and Curaçao. In order to be considered for such a license, the applicant must comply with certain requirements set by the Central Bank, which are laid down in the aforementioned National Ordinance.