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Frequently Asked Questions

Forming part of the Kingdom of the Netherlands, Curaçao is an associate member of the European Community, with the Supreme Court of the Netherlands serving as the highest legal authority, Curacao complies with international standards of integrity and approved by the Organization for Economic Co-operation and Development (OECD) and the Financial Action Task Force (FATF). It also offers protection by high-standard anti-money laundering provisions and high-quality prudential supervision by the Central Bank as regulatory authority and excellent international financial planning options via tax treaty networks.

Curacao has strong knowledge of civil as well as common law structure and independent and high-quality Dutch legal system, free access to foreign currencies, political stability and a strong connection to European law structure.

The Central Bank of Curacao & St. Maarten (the “Central Bank”) supervises, control and promote the efficient functioning of the financial system in the Countries Curacao and St. Maarten and this includes of course, licensed financial and credit institutions in the Island of Curacao.

The Central Bank is the only institution entitled by law to issue paper money in the Countries Curacao and St. Maarten and also is charged with the circulation of coins. The Central Bank supervises banking and other credit institutions to primarily promote the stability, integrity, efficiency, safety, and soundness of the financial sectors of the countries Curacao and Saint Maarten in general and to safeguard the interest of the depositors and other creditors of the banking and other credit institutions in particular. The Central Bank also manages the foreign exchange reserves of the Netherlands Antilles, which includes regulating of the transfer of payments between residents and nonresidents of the Countries Curacao and St. Maarten and acts as the government’s treasurer by receiving and making payments from and to the public through the tax collector’s accounts at the Central Bank.

The Central Bank’s most important objectives are to maintain the external stability of the Netherlands Antillean guilder (NAf.) and to promote the efficient functioning of the financial system in the Countries Curacao and St. Maarten.

FATCA stands for the Foreign Account Tax Compliance Act. It refers to provisions included in the Hiring Incentives to Restore Employment Act signed into law on March 18, 2010 and effective January 1, 2013. It adds a new chapter to the Internal Revenue Code (Chapter 4) aimed at addressing perceived tax abuse by U.S. persons through the use of offshore accounts. The new rules require foreign financial institutions (FFI’s) to provide the Internal Revenue Service (IRS) with information on certain U.S. persons invested in accounts outside of the U.S. and for certain non-U.S. entities to provide information about any U.S. owners.

Any entity making a payment of U.S. source income must consider whether it is subject to FATCA. FATCA may apply to both financial and non-financial operating companies. Due to this breadth, FATCA impacts virtually all non-U.S. entities, directly or indirectly, receiving most types of U.S. source income, including gross proceeds from the sale or disposition of U.S. property which can produce interest or dividends.

U.S. entities, both financial and non-financial, that make payments of most types of U.S. source income to non-U.S. persons will also be impacted as they may now be required to withhold a 30% tax on that income paid to a non-U.S. person under FATCA. This will require the U.S. entities to maintain documentation on those non-U.S. persons and also track how those persons are classified under FATCA.

Yes, there are no limitations to open a bank account in Curacao, as long as the potential individual or corporate customer does comply with Blue Bank’s compliance policies and procedures and is accepted as per the recommendations of the Compliance Department.

Any individual planning to start a relationship with Blue bank must open a money market and/or savings account.

Fill and/or sign and deliver to your assigned relationship manager the following:

  1. Personal Account Opening form.
  2. “Know Your Client” form for each of the authorized signatories.
  3. E-banking User Agreement.
  4. Source of Funds Declaration Form.
  5. Signature Card; duly completed and signed by each authorized signatory.
  6. One legible and certified copy of valid photo identification of each authorized signatory.
  7. One bank reference dated no earlier than 3 months upon submission.
  8. A valid copy of each signatory’s Tax Identification Number and;
  9. Copy of the latest utility Bill.

Fill and/or sign and deliver to your assigned relationship manager the following:

  1. Corporate Account Opening form.
  2. Know Your Client Form. One for each of the said beneficial owners and authorized signatories.
  3. Signature Card dully completed and signed by each authorized signatory.
  4. Signed E-Banking User Agreement.
  5. Source of Funds Declaration Form; duly completed and signed.
  6. Ultimate Beneficial Owner Declaration Form-duly completed and signed by all UBO’s each.
  7. Complete and legible copy of the documents of incorporation / registration of the company: Register or Certificate of Incorporation, Memorandum and Articles of Association. (These copies must be verified by the relationship manager, with the existing Original Documents).
  8. Copy of the Audited Financial Statements of the last year filed with the appropriate Registry.
  9. Copy of Resolution of Appointment of Directors.
  10. Copy of Resolution requesting the opening of a corporate account at Blue Bank International N.V. detailing the authorized signatories on the account.
  11. One legible and certified copy of Valid Photo Identification of each of the said beneficial owners, authorized signatories and management members.
  12. One Bank Reference dated no earlier than 3 months upon submission.
  13. A certified copy of the Tax Identification of the Company.

Requests to wire funds in United States Dollars (USD) into your Blue Bank International N.V. account must be made with your financial institution.

Please note: For your transfer to be credited to your account, your bank must include the sender’s name on the wire. A rejected wire may incur a bank fee. All wires sent from a third party are subject to review, require verification prior to acceptance, and may be returned.

Beneficiary Bank:
Community Federal Savings Bank
Address:
53, 810 7th Avenue New York,
NY NY 10019, U.S.A.
ABA: 026073008
SWIFT: CMFGUS33

Beneficiary:
Euro Exchange Securities UK LTD
Account Number: 2715100759
Address: 107 Great Portland Street, London, W1W 6QG
Reference: 20101.0007 FFC Blue Bank + número de cuenta cliente y nombre + razón/factura de pago

Note: These instructions are subject to change. Make sure to check back for any new transfers.

Last Updated: December 14, 2022