CURACAO

Name of country

• CURACAO

Region

• Caribbean, an island in the Caribbean Sea, 55 km off the coast of Venezuela

Population

• 151,885 (July 2021 est.)

General Introduction

• Global citizens from all over the world share one goal: they want visa-free travel, financial security, privacy, and family safety. This is where citizenship preparation comes into play. This government initiative, known as citizenship by investment or an investor permit program, provides qualifying applicants and family members with residency or citizenship in exchange for an investment in the nation’s prosperity. While there are a few programs that use their own variations of this concept, the Curaçao Investor Permit Program is certainly one of a kind. Foreign investors can find themselves sitting in an island paradise, sipping a cocktail and watching the sun set over crystal-clear blue waters in exchange for foreign direct investment. Furthermore, after five years, Dutch/EU citizenship is possible.

Wifi Speed

• 28.23 download speed
• 8.82 upload speed

Electrical outlet

• Curaçao standard current outlets provide 110-130 Volt at 50Hz.

Per Capita GDP 

Real GDP per capita

• $24,500 note: data are in 2017 dollars (2019 est.)
• $25,100 note: data are in 2017 dollars (2018 est.)
• $25,475 (2017 est.)

Climate

• tropical marine climate, ameliorated by northeast trade winds, results in mild temperatures; semiarid with an average rainfall of 60 cm/year

Residence-by-Investment

• In an effort to increase foreign direct investment, the government of Curaçao issued the Guidelines Investors Permit 2014 in 2014. As a result, Curaçao has opened the door for high-net-worth investors to obtain a residence permit in Curaçao and, in theory, Dutch (EU) citizenship after five years. The Curaçao investor permit consists of residency and/or eventual citizenship programs for real estate and business venture investments.

Investment

1. A 3-year program for investments with a minimum capital of 280,000 USD;

This investor permit program offers a residence permit of three years and requires a minimum investment of at least USD 280,000 in real estate or (own) business ventures. After three years the residence permit can be renewed if the conditions are still met.

2. A 5-year program for investments with a minimum capital of 420,000 USD;

This investor permit program offers a residence permit of five years and requires a minimum investment of at least USD 420,000 in real estate or (own) business venture. After five years the investor permit can be renewed if the conditions are still met. At this point, the investor becomes eligible for Dutch citizenship and passport through which the investor becomes an EU citizen providing (under the Dutch passport visa-free travel to 156 countries including amongst others the Schengen countries, United States of America, Canada, and the United Kingdom).

3. An Indefinite program for investments with a minimum capital of 838,000 USD;

This investor permit program offers an indefinite residence permit and requires a minimum investment of at least USD 838,000 in real estate or (own) business ventures. After five years the investor becomes eligible for Dutch citizenship and passport through which the investor becomes an EU citizen providing (under the Dutch passport) visa-free travel to 156 countries including amongst others the Schengen countries, United States of America, Canada, and the United Kingdom.

Processing Time

• Between 4 to 5 weeks.

Key Benefits

• Live in a beautiful Caribbean nation with high living standards
• EU passport in five years
• The whole family is eligible
• Dynamic investment options
• Excellent international trade relationships
• Visa-free travel to 174 nations with Netherlands citizenship

Requirements

• High-net-worth individuals must check the following boxes in order to obtain a residence permit:
• Have enough financial resources to invest and enough means to support yourself as a Curaçao resident.
• Have a clean criminal record and a good demeanor
• Do you have a private health insurance policy?
• Curaçao has piqued your interest.
• Demonstrate that the investment was made legally and that it has a genuine economic benefit to the country.
• In addition, in order to qualify for a residence permit, the investor must make a minimum investment.

Procedures and Time Frame

• The application process for Curaçao Investor Permit Program is very straightforward and easy.

Step 1: Decide on your investment

As the first step, you should decide which investment type you’re going to apply for. You can choose to go with the investment amount of $280,000, $420,000, or $838,000 in exchange for a  residence permit that is valid for a different period.

Step 2: Start your application

If all your documents are ready, you can proceed and start your application. Make sure there is no missing document as this will delay the process. 

Step 3: Get your Curaçao residence permit

Once your application has been approved, you can expect to get your first residence permit. Now, you can start to enjoy your new life on the island.

Step 4: Renew your residence permit

If your residence permit is valid for three years, you’ll be eligible for renewal after this period is over. If it is valid for five years, you can renew it at the end of five years. Note that you’re also eligible to apply for Dutch citizenship at the end of five years.

Step 5: Get Your Dutch Passport

Curaçao Investor Permit program is a route to Dutch citizenship if you keep your investment and abide by the residence rules. Dutch passport gives you visa-free access to over 185 countries, including the US, Canada, and the UK.

Natural Resources

• calcium phosphates, protected harbors, hot springs

Ethnic Groups

• Curacaoan 75.4%, Dutch 6%, Dominican 3.6%, Colombian 3%, Bonairean, Sint Eustatian, Saban 1.5%, Haitian 1.2%, Surinamese 1.2%, Venezuelan 1.1%, Aruban 1.1%, other 5%, unspecified 0.9% (2011 est.)

Languages

• Papiamento (official) (a creole language that is a mixture of Portuguese, Spanish, Dutch, English, and, to a lesser extent, French, as well as elements of African languages and the language of the Arawak) 80%, Dutch (official) 8.8%, Spanish 5.6%, English (official) 3.1%, other 2.3%, unspecified 0.3% (2011 est.)

note: data represent most spoken language in the household

Religion

• Roman Catholic 72.8%, Pentecostal 6.6%, Protestant 3.2%, Adventist 3%, Jehovah’s Witness 2%, Evangelical 1.9%, other 3.8%, none 6%, unspecified 0.6% (2011 est.)

Median Age

• total: 36.7 years
• male: 34.4 years
• female: 39.5 years (2020 est.)

Urbanization

• urban population: 89.1% of total population (2021)
• rate of urbanization: 0.57% annual rate of change (2020-25 est.)

Physician density

• 0.56 physicians/1,000 population (2013)

Government type

• parliamentary democracy

Unemployment Rate

• 13% (2013 est.)
• 9.8% (2011 est.)

Taxes

Headline Personal Income Tax Rate (highest marginal tax rate) 

• 46.5% 

Headline Corporate Income Tax Rate (excluding dividend taxes)

• 22%

On 30 December 2019, the Curaçao government passed legislation that introduces a territorial tax system, economic substance rules, anti-abuse provisions and a reduced corporate income tax rate for certain business activities that the government seeks to attract and promote. The new legislation was effective from 1 January 2020.

Territorial tax system

The most important change made by the legislation is the replacement of the worldwide tax system (with exemptions for certain foreign-source income) with a territorial tax system where only income from Curaçao sources will be subject to corporate income tax (also referred to as profit tax).

The following income will be deemed to be Curaçao-source income: 

• Income from business activities carried out in Curaçao;
• Income from business activities carried out in Curaçao through a permanent establishment (including services performed with respect to real estate located in Curaçao);
• Income from the leasing or renting of Curaçao-situs property (immovable and otherwise) or rights therefrom that are used in Curaçao;
• Income of financial services companies from lending to or depositing funds with residents or from insuring risks located in Curaçao; and
• Passive income (e.g. dividends, interest, rents, royalties) where the recipient is resident in Curaçao, including passive income from financial institutions such as banks and insurance companies.

The following would be considered foreign-source income:

•  Income from business activities carried on outside of Curaçao; and
• Income of financial services companies from lending to or depositing funds with nonresidents or from insuring risks located outside of Curaçao.

Reduced corporate income tax rate 

A reduced corporate income tax rate of 3% (from the standard 22% rate) has been introduced for certain types of domestic activities (subject to economic substance requirements).

To align with the reduced 3% corporate income tax rate on the above activities, the tax incentive rate on certain investment projects (requiring a minimum investment of ANG 5 million) has been increased from 2% to 3%.