Doing business in Curaçao
Due to its strategic location between the Americas and its natural port with deep, still waters Curaçao has always been a center for trade and commerce. Since 1954, it additionally became a true financial center which spurred the development of an infrastructure well suited for international finance, investment banking, shipping registration, mutual funds and others alike.
The business-friendly environment is further defined by the island’s legal system, which is linked to the Dutch Supreme Court in The Hague and the tax system, including treaty eligibility, linked to that of the Netherlands.
Curaçao also has a modern international airport, Hato, which handles many different types of commercial as well as cargo aircraft and handles 23,000 flights a year. Moreover, the island boasts an efficient and reliable communication infrastructure and extensive port facility that strengthens its role as a logistical hub.
National Development Plan
Guided by the United Nations Development Plan (UNDP), Curaçao established its own National Development Plan, which was finalized in February 2016.
Aligned with the 17 Sustainable Development Goals of the United Nations, the government of Curaçao built a framework with short- as well as long-term goals that will allow for increased prosperity in the areas of education, the environment and the community among others. This process will function as a catalyst for change and aims to strengthen the island’s most vital sectors and its society.
Learn more about National Development Plan.
Liquefied natural gas
The island’s local oil refinery, Refineria di Kòrsou (RdK), leases its facility to Petróleos de Venezuela, S.A. (PDVSA). With the lease due to expire in 2019, RdK is seeking opportunities for the future of the refinery with alternative parties.
A request for proposals to build a liquefied natural gas (LNG) import and transshipment terminal has already been issued. According to the tender documents the successful bidder will be required to develop, finance, build and operate the facility. The terminal, which will include LNG storage and regasification units, will be located on the south of the island at Bullen Bay and is scheduled to be operational by 2021.
The Blue Halo Initiative is a comprehensive ocean and coastal management project set up by the government of Curaçao in collaboration with the Waitt Institute and its partners to create and implement sustainable ocean policies. The preservation of the island’s surrounding waters and marine life is of vital importance for the quality of life of the local community as well as for the economy, which is impacted by ocean dependent sectors.
The Waitt Institute has studied these challenges and offered solutions and policy pathways, including plans for monitoring, enforcing and financing new coastal regulations to ensure a brighter future for the ocean environment and its stakeholders.
Learn more about Blue Halo.