- Quick facts about Curacao and its banks
- A historical note
- Corporate account for your offshore company in Curacao
- Documents required for setting up a corporate bank account in Curacao
- Curacao bank tariffs and requirements to non-resident companies
- Is it possible to open a corporate bank account before the company is incorporated? PRE-APPROVAL
- Open a corporate account in Curacao remotely
What can be as fantastic as the nature in the Caribbean? Probably only the banking sector in the region! We invite you to consider the opportunity to open a corporate bank account for your offshore company with a Curacao bank. Offshore Pro Group experts will gladly help you in the process.
The bank that we speak about below offers an extended list of financial instruments to non-resident people and companies. A corporate account with the bank can be of interest for offshore company owners as well as wealthy international investors and trust owners. Curacao banks enjoy a good reputation and financial institutions in many other countries will readily make payments to the accounts with the bank and receive payments from them.
We invite those engaged in high-risk business areas (Forex, gambling, brokerage, and the like) to apply for a consultation on obtaining multicurrency banking services. We will be happy to offer you a choice of banks, payment systems, and account types that can be useful for your foreign companies.
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with seasoned professionals on international banking and where it is best to open non-resident corporate accounts.
Quick facts about Curacao and its banks
You can become a client of the Curacao bank without ever visiting the country if you apply for our professional assistance. Curacao is located in the south of the Caribbean Sea 80 kilometers from the shores of Venezuela. It is one of the Lesser Antilles.
The paradise island of Curacao was discovered in 1499 by Alonso de Ojeda, a Spanish captain. There are two legends about how the island acquired its name.
According to the first legend, when Ojeda reached the shores of Curacao, part of the crew were dying of sea scurvy. So the captain decided to leave the sick on the island and sail on to the coast of South America with the rest of the crew.
On his way back, however, Ojeda was surprised to see that all the sick sailors he’d left on Curacao fully recovered. The local plants contained a lot of vitamin C that helped to cure the sea scurvy. ‘Cura’ is the Portuguese word for ‘cure’ hence the name of the island.
According to another legend, the name ‘Curacao’ is derived from the Spanish word ‘corazon’ that means ‘heart’. If you look at the map, you will see that the shape of the island resembles the shape of a heart. Whichever legend is truer, the beauty of Curacao arrests the eye and its geographical position is just perfect.
A historical note
When Ojeda discovered Curacao, the island became an overseas territory of Spain. Later the Spanish left Curacao due to lack of fresh water on the island. The Dutch overtook the vacant island and they managed to settle it quite successfully.
Beginning the 17th century, African slaves were brought to Curacao by thousands. Slavery was finally abolished in 1863 and a new life began for the islanders.
As far as the recent history of Curacao is concerned, it was part of the Netherlands Antilles until 2010. In October that year, Curacao was granted greater autonomy (it acquired the status aparte). It is still legally a Dutch territory and the Netherlands are responsible for defense and the foreign policy of Curacao.
The Curacao of today is an attractive jurisdiction that is on the OECD ‘white list’. It has a stable economy and a steady political system and its banking sector boasts serious competitive advantages. We invite you to consider the opportunity to solve your personal and corporate tasks with the help of Curacao banks.
Corporate account for your offshore company in Curacao
The Caribbean bank that we are promoting here is an international financial institution and it welcomes clients from different countries of the world to open corporate accounts there. This offshore bank is most often used for asset protection and diversification as well as extension of international client/ partner networks.
Banking in Curacao is attractive for one more reason: the local legislation provides for a high level of banking privacy and legal protection.
If you’d like to open a corporate account with an offshore bank to make and receive international payments, then the bank in Curacao would be one of the best choices. You would be able to make fast transactions in different currencies including the euro and the US dollar. We’d also like to stress that the bank offers wonderful electronic banking opportunities. Its clients use tokens (coding devices), which makes online banking highly secure.
Please look at some other products that we have in the Caribbean. Both personal and corporate bank accounts can be opened there.
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Documents required for setting up a corporate bank account in Curacao
ALL corporate bank account beneficiaries including account owners, signatories, company directors, nominees, and other company officers have to supply the following documents:
- Completed, printed out, and signed application forms for corporate account opening;
- Notarized passport copies for the authorized corporate account users including trusted agents (if any), Directors, Managing Directors, Company owners, etc. Identification documents equivalent to passports will also be accepted. The copies have to be translated into English and translations notarized. The Notary Public’s stamp and signature shall be less than 6 months old.
- Proofs of residential addresses (utility bills, for instance);
- A Letter of Recommendation from your bank and one from a professional (such as an accountant or a notary public). This applies to all corporate account users. The issuers of the recommendation letters shall have been in cooperation with the applicants for two years or more. The Letters shall be less than three months old.
Corporate application documents:
- Notarized copies of the Certificate of Incorporation and the Certificate of Good Standing (if the company has been in existence for more than one year);
- Notarized copy of the Memorandum and Articles of Association or Company By-Laws;
- Register of Company Directors and Shareholders;
- Notarized copies of Share Certificates if the company has registered shares and a copy of Trust Declaration if the company has corporate shareholders;
- A notarized copy of the resolution appointing Directors;
- A notarized copy of the Power of Attorney if the company has corporate Director(s);
- Company owners’ signature samples;
- Letter of Undertaking (if the company has bearer shares);
- Agreement of Limited Liability if the company is an LLC.
Please note that all the documents shall be in English (translated if necessary) and all of them shall be notarized. Within 14 days after submitting electronic copies, you have to supply paper copies to the bank.
Curacao bank tariffs and requirements to non-resident companies
We would like to draw your attention to the fact that similarly to the majority of financial institutions in the world, the Curacao bank follows the international rules (sanctions, FATF requirements, and so on) and conforms to the Curacao banking regulator’s requirements as well as those put forward by correspondent banks.
Please note that companies domiciled in jurisdictions sanctioned by OECD or FATF or those having business relations with companies domiciled in these jurisdictions cannot obtain services from the Curacao bank.
Offshore bank in Curacao: corporate account maintenance costs for a foreign company in 2022-2023.
Curacao bank tariffs for non-resident companies
|Corporate account opening||Free|
|Maintenance fee (per month)||30|
|Commission if the deposit drops below USD 10,000||30|
|Inactive corporate account||50 per month|
|Closing corporate account||150|
|Incoming international payments (excluding correspondent expenditures)||20|
|Outgoing international payments (including correspondent expenditures)||20|
|Online transactions (commission)|
|US$ 30,000 or less||165|
|From US$ 30,001 to US$ 60,000||195|
|From US$ 60,001 USD to US$ 100,000||245|
|More than US$ 100,000||1.61% but not more than US$ 500|
|Other banking services|
|Letter of Recommendation from the bank||150|
|Transaction examination||intra – 60inter – 90|
|Token (token fee)||75|
|Credit commission – corporate account closure||1% of the credit amount before payment|
If you would like to learn about other banking services available in the Curacao banks and the fees, please contact Offshore Pro Group experts. You are also welcome to find out about other possibilities to open a foreign bank account.
Is it possible to open a corporate bank account before the company is incorporated? PRE-APPROVAL
Some of our clients wonder how they can open a corporate bank account for the prospective foreign/ offshore companies before the companies are fully registered. Our answer is:
- It is impossible to open a corporate account for a company that has not been formed yet.
- If the company has already been established, opening a foreign bank account for it is possible. Please mind, however, that the process takes time and the answer is not always going to be affirmative. The bank’s security service is going to conduct due diligence checks and much will depend on the company sphere of activities, reputation, the country of incorporation, and other factors.
- This said, however, you can apply for a PRE-APPROVAL to the bank even before your company is incorporated. Moreover, you can apply for this service to several banks in one go.
This will enable you to find out if your prospective company looks attractive to foreign banks. If your application for banking services is pre-approved, it does not automatically mean that you’ve got the ultimate approval. But the pre-approval should increase your confidence in obtaining the banking services when all your corporate documents are ready for submission.
The Curacao bank is also prepared to consider an application for pre-approval. You will have to supply the following information:
- The main business objectives of the company;
- Reasons why you’d like to set up a corporate bank account in Curacao;
- Reasons why you want a corporate account with an offshore Caribbean bank;
- Intended amounts of incoming and outgoing payments per month/ per year;
- The company founder(s)’ nationality;
- Company clients/ partners’ jurisdictions.
- The term of the company’s existence. We’d like to note at this point that your company has to have at least some history to be able to obtain banking services in Curacao. An option to consider is buying a shelf company. Your company will not have clients or partners but it will have a term of existence.
- Company shareholders’ nationalities and places of residence;
- Names and contacts of main suppliers/ partners.
Please apply for our PRE-APPROVAL service and find out what banks are likely to take you onboard when you register a foreign company.
Open a corporate account in Curacao remotely
A step-by-step guide on opening a corporate bank account in Curacao with our professional support:
- The first thing that you have to do is tell us you want a corporate bank account in Curacao. Please write to email@example.com and request a professional consultation on setting up a corporate account with a foreign bank.
- Then we will sign a service agreement and you will cover the cost of the service in any way you prefer: by a bank transfer, a credit card, through a payment system, in almost any currency including the Bitcoin and other cryptocurrencies. The service cost is 3,999 EUR.
- Then you have to supply the application documents that we have listed above. Our specialists will double-check the application document package and add (or request from you) any missing papers if necessary.
- When you receive a confirmation from the Curacao bank, you will be able to fully use the services of one of the best offshore banks in the world.
If you have any questions remaining, we will be happy to answer them when you get in touch with us. You are also welcome to find out about the full range of our services if you are looking for something different.