International organization gives Curaçao big transparency rating!
Curaçao has recently become one of six countries to receive the distinction of being rated by the OECD (Organization of Economic Cooperation and Development) as largely compliant jurisdictions. This rating pertains to the OECD’s updated global standards with regards to their global forum on transparency and exchange of information for tax purposes. The other jurisdictions that received this rating are Andorra, the Dominican Republic, the Marshall Islands, Samoa and the United Arab Emirates.
Curaçao, as part of this group of countries, was appraised to have improved access to information, developed broader agreements for the exchange of information (EOI) when requested, and enhance their tracking of the incoming EOI requests, which are steadily increasing, and how they are being managed. This compliant rating, in addition to Curaçao’s reputable status as a member of the Dutch Kingdom, serves to further accentuate the island’s reliability as a financial jurisdiction for international partners.
This transparency rating also includes…
Further strengthening Curaçao’s reliability as a financial jurisdiction is the fact that this rating also incorporates regulations pertaining to beneficial ownership of legal entities. These regulations pertain to the implementation of the OECD’s standards on ensuring that law enforcement officials are able to gain access to trustworthy information on the ultimate beneficial owners of companies or other legal entities. This prevents lawbreakers from covering their illegal activities behind nontransparent legal frameworks.
As a bank with international clients registered in Curaçao, we at SAI-Bank are thrilled to share this news. This further puts our clients at ease knowing that they are conducting their bank affairs in a jurisdiction that, on top of having a sterling reputation worldwide as a constituent country in the Dutch Kingdom, is now also internationally certified as tax transparent and compliant.
We look to forward to sharing more good news!