Being able to assess credit worthiness is gold for lenders and businesses. One of the best ways to verify the credit worthiness of your customers is to run a credit report before selling on account or extending loans. A good credit reporting infrastructure in a community has benefits to banks, retailers and consumers. Studies have […]
Curaçao could not have hoped for a better start at the 10th annual Caribbean Regional Compliance Association, (CRCA), Conference, entitled ‘Chaos – the New Normal’. Minister of Economic Development, Mr. Eugene Rhuggenaath shared the breaking news that Curaçao is now fully compliant with international fiduciary standards. The CRCA conference covered topics related to financial crime […]
Factoring, also called accounts receivable funding, is the purchasing of invoices from a business at a discount in exchange for immediate cash; cash that would normally remain tied up in accounts receivable. Besides providing additional cash flow, a factoring company (factor) also provides collection services and debtor management. The factoring process is continuous, providing you […]
In this era of globalization, it is critical that countries and the businesses that sustain them continuously measure their performance on a global level in order to achieve sustainable competitive advantage. Today more than ever, due to advances in technology and communication, companies and economies now have the capacity to expand their market base across […]
The inner city of Punda, with its 200-year-old buildings, is in need of re-urbanization and some serious image improvement. If this can be done in most European, Central and South American cities, why not revitalize the re-urbanization possibilities of the four sections of which Willemstad consists, Punda, Otrobanda, Scharloo and Pietermaai, with Pietermaai as the […]
Since the 1950’s, the international financial services sector has been an important economic pillar for Curaçao. For over 70 years, Curaçao has shown its strength in its multilingual and highly educated workforce. Nowadays, Curaçao is an established, secure and reliable international financial center. TEXT CURAÇAO INTERNATIONAL FINANCIAL SERVICES ASSOCIATION (CIFA) Due to its long history, […]
As of January 1st, 2015, Customary Salary Rules (in Dutch: gebruikelijkloonregeling) apply to an individual who works for a company in which he holds a so-called substantial interest. Someone holds a substantial interest, for example, if he holds (in)directly at least 5% of the issued capital, either solely or with his partner. Customary Salary Rules […]
Minister José Jardim of Finance of Curaçao made public that the international rating agency Standard & Poor’s has given the island a repeated positive rating. The public finances in the last two years have come together again. Before, there was no perspective because the economy faltered, however now the S & P stated that the […]
Transparency is the motto for Curaçao to acquire a new reputation as an attractive financial and fiscal midshore service center. As keynote speaker at the STEP conference in Curaçao, the former Dutch Finance Minister Jan Kees de Jager said that the development of a favorable tax regime must be determined to meet the requirements of […]
The Curaçao International Financial Services Association (CIFA) and the Curacao International Financial Center (CIFC) held a festive opening of the New Year on 8 January 2016 at the Curaçao Maritime Museum. The event, which served as an opportunity to network and give input to the board on certain topics, was also a gathering of minds […]
