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NEW OPPORTUNITIES IN CURACAO

01-11-2012 05:17 AM CET | Politics, Law & Society

Press release from: Carlo Scevola & Partners

Curacao obtained a self-governed status in 1954 and since then it has attracted businessmen and investors from all over the world to take advantage of its favourable business legislation. Being an autonomous territory under the Kingdom of the Netherlands, Curacao has a stable international reputation and provides high standards of financial services.
Today this jurisdiction is particularly known for its well-regulated online gambling industry. It is possible to obtain one type of e-gaming license which covers all games of chance, skill and sports betting, as well as product operators and software providers. The Curacao e-Gaming Licensing Authority was established in 1996 by the Curacao Department of Justice; it issues e-gambling licenses and supervises this type of business activity.
On the 12th of October 2011 the Parliament of Curacao adopted a new law which allows setting up a trust in Curacao. In this way, a Curacao trust becomes an alternative to the already existent Curacao Private Foundation. Any kind of distributions made by a Curacao trust or private foundation are exempt from inheritance and gift taxes. If a trust or a private foundation does not gain its profits from conducting a business activity, it is also exempt from corporate income tax. However, upon request, a Curacao trust or a private foundation may qualify to pay income tax in Curacao at a fixed rate of 10%.
It is recommended to evaluate whether establishing a private foundation or a trust in Curacao is the right structure in each particular case. Highly qualified and experienced consultant is able to suggest which is the most appropriate structure, give reasons why exactly this particular strucutre is the right solution, and which jurisdiction is the most favourable in each individual case.

Carlo Scevola & Partners (CS&P Fiduciaire) is a Swiss fiduciary company with branches around the world.
It offers a wide range of fiduciary services, including international tax planning, offshore companies formation, trusts, foundations, asset protection, wealth management.

CS&P Fiduciaire
4-6 Avenue Industrielle
Carouge
1227 Geneva
Swtizerland
www.carloscevola.com

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