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Overview
Curaçao is one of the oldest and most politically stable providers of regulated eGaming services.
Incorporation & obtaining license: 2-4 weeks
Minimum paid up capital: No minimum capital requirement
License fee: USD 1,000.00
Overview
An E-zone is an area within Curaçao in which, amongst others, international trade and trade supportive services may be performed by, but not limited to, electronic communication and information equipment (“e-commerce”). The activities of these companies must, in principle, be focused on trading with or providing services to non-residents of Curaçao. The turnover generated through trading with or providing services to residents of Curaçao may not exceed 25% of the turnover per item. If business is conducted with residents of Curaçao, the company generally has to file a request with the competent authorities. If permission is granted, the company will receive a list of conditions that will have to be met.
A request should be filed with the local authorities in order to be admitted into an E-zone. To apply for an E-zone status it is essential that the company is established and registered in the E-zone. In most cases this implies an office with co-workers, or the establishment of a server or a combination of both. Permanent establishment and/or services from the E- zone guarantee such a status. According to the OECD permanent establishment is established provided that the server is located in Curaçao.
Local Data Center can assist in the purchase of a server.
The most important requirements which need to be complied with are:
- ▪Ultimate beneficial ownership of the legal entity should be disclosed (upon request) to the tax authorities;
- ▪Only legal entities with a capital divided into shares may perform activities in an E-zone;
- ▪The activities must in principle be focused on trading or providing services to companies or persons located outside Curaçao;
- ▪The business activities of the legal entity must contribute to the economic growth of Curaçao either by generating foreign currency or employment;
- ▪The financial statements of the entity are required to be drawn up in accordance with generally accepted accounting standards and need to be reviewed by a qualified auditor;
- ▪Transfer price calculations for goods and services rendered in inter-company relations should not deviate substantially from generally accepted methods, like the OECD transfer pricing guidelines.
Comprehensive Guide to Company Incorporation
General information
Company structure
- ▪At least two shareholders (can also be a legal person, no nationality restriction or residency restrictions) [later membership interests can be legally transferred to one person]
- ▪Only one director (can only be natural person, no nationality or residency restrictions)
Confidentiality
- ▪Beneficial owners’ details – Not part of public record
- ▪Shareholders’ details – Are part of public record
- ▪Directors’ details –Are of public record
Taxation
- ▪0% tax on gross bets
- ▪2% corporation tax for e-Zone companies that retain annual compliance
- ▪No VAT, Sales Tax or import duties
- ▪No restriction on dividend withdrawals.
Accounting requirements – Basic reports should be submitted.
Secretary – Required
Registered Agent – Required
Registered office – Servers should be located in the Curacao EZone
Local employees – Not Required
N.B.
- ▪Restricted connections for company name: name of state, national or local government.
- ▪Any name that implies illegal activity or implies royal or government patronage is restricted.
- ▪Registrar may reject any name which it considers undesirable or contrary to the public interest.
- ▪Company name is restricted to be identical or similar that of an existing company.
- ▪In case when foreign language is used for company name the translation must be provided to Registrar which will ensure conformity to above listed restrictions.
In order to obtain a license, the following steps will be carried out:
Curacao company registration
- ▪Drafting a power of attorney authorizing members fr om our staff to process the license
- ▪Registering a company
- ▪Preparation of all necessary documents for
- ▪Sending all documents for signature of the client and for them to be notarized and legalized in country wh ere client is residing
- ▪Opening offshore bank account
- ▪Drafting of Business Plan for the Company
- ▪Account opening in a European Bank for operational purposes
In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents.
For that reason, please provide us with the following documents.
For bank:
(Each beneficial owner, shareholder, director, authorised signatory and secretary must provide)
- ▪A notarized copy of valid passport
- ▪A copy of proof of residential address (ex. utility bill that is not older than 3 months)
- ▪A notarized copy of Letter of Reference form Bank, Attorney or Accountant
For local regulatory authority:
(Each beneficial owner, shareholder, director, authorised signatory and secretary must provide)
- ▪Original certified copy of valid passport of the ultimate beneficial owner (“UBO”)
- ▪One Original bank reference letter on behalf of the ultimate beneficial owner(s)
- ▪One original professional reference letter on behalf of each ultimate beneficial owner
- ▪Original certified copy of a utility bill or any other instrument/document that verifies the place of the main residence of the UBO(s)
- ▪Management and Indemnity Agreement duly signed by each of the UBO(‘s)
- ▪Source of wealth statement executed by the UBO(’s)
- ▪Detailed description of business activities and purpose
- ▪Completed client application form
- ▪Contact details of each of the UBO(‘s)
N.B.
- ▪If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
- ▪Please ensure that notarization is in English language if not then please provide with notarized English translation.
Additional documents may be requested by the regulatory authority or local Bank at any point to certify specific information.