Guide to Doing Business
Under the laws of Curaçao each company needs to have:
- A license for the managing directors to act as such;
- A license to carry out business.
Pursuant to the Business Establishment Rules (Vestigingsregeling voor bedrijven), a business license application can be denied in the interest of public policy and also, if in the opinion of the government of Curaçao, the public interest so dictates. Business licenses are issued on the condition that the business for which they have been granted must have commenced within six months of the date of the granting of the business license. Foreign legal entities also have the possibility to request the government for a business license for the purpose of establishing a branch office of the foreign legal entity to conduct a business in Curaçao.
For some international or cross border transactions a specific or general foreign exchange license or exemption may be required. In other cases, the acquisition of a business in Curaçao by a non-resident requires a foreign exchange license or a written notice to the Central Bank of Curaçao and St. Maarten. Such licenses and notices are for the purpose of enabling the Central Bank to monitor the changes in local and foreign currency reserves.