Curaçao Welcomes Foreign Investors with Fast Tracked Residential Permits

By implementing fast track residency permits for high net worth individuals, Curaçao´s government ensures that the immigration process does not get in the way of investment in the island’s future.

TEXT KATY BRANUM

Curaçao’s history has been built on people that came to the island, saw opportunity and acted upon it. From the early Spanish, to the Dutch, to the Shell Refinery, to the development of the offshore business sector and to where we are today, we are all working together towards Curaçao’s strong future. It is this melting pot that drives Curaçao’s economy, and why it makes absolute sense to encourage others who would like to join us to come forward.

Recognising the needs of the modern businessperson and to help encourage high net worth investors to invest in Curaçao, the Government has implemented a fast track residency permit process so that bureaucracy does not get in the way of business.

This is a refreshing approach, as many savvy business people who consider investing in the Caribbean often come to the island only to find themselves wrapped up in a sluggish process and red tape. This result is in not being able to secure the necessary visas in a timely manner, thus greatly impeding their ability to stay on island and their confidence to invest. Esther Cheri, Interim Director at the Immigration office explains, “By quickly obtaining residency approval, the investor can have the peace of mind to continue with their projects without worrying about the airport immigration and coming and going from Curaçao.”

The most natural applicant for the Curaçao residential permits are those that would like to buy a second home in Curaçao and/or would like to invest in a business venture here. The benchmark for this investment is a minimum investment of ANG 500,000, which is equivalent to approximately USD $283,000. For an investment of ANG 1.5 million an investor can be immediately granted a residence permit for an indefinite period.

The funds that the investor is using to invest in Curaçao must be from a legitimate source and not obtained from illegal activities. There are no restrictions on country of origin, however the applicants have to genuinely intend to invest in Curaçao for a lawful purpose, and be a bonafide foreigner to be eligible for this permit. Nelson Navarro, Minister of Justice, explains, “The goal of the investor permit is to facilitate the investment in Curacao by high net worth foreigners, thus contributing to our economy.”

Nelson Navarro, Minister of Justice, explains, “The goal of the investor permit is to facilitate the investment in Curacao by high net worth foreigners, thus contributing to our economy.”

In addition to the submitting the completed application form and paying the required registration fee, the applicant must have a valid passport, be able to prove supporting funds as per their bank statement, and have valid health insurance. Once submitted, the residential permit approval will be received within two weeks. An initial permit will be offered for one year and then an automatic renewal will occur if conditions have not changed. For larger investments, residency permits can be issued for longer periods depending on the investment amount.

The application process and paperwork are available in English and Spanish, as well as Curaçao’s official languages. This process is designed to be straightforward so that applicants can complete the process themselves without the need to engage with a third party, such as an immigration consultant or similar to assist them.

Those investors who are already on island on a temporary residence visa could qualify for this new visa and, if eligible, should make use of the ‘Investor Permit 2014’ to adjust their status.

Investors are already taking advantage of this new process. One businessman from the USA receiving approval in less than a week expressed his appreciation, via email:

“Many pay lip service to serving the needs of the international investor everybody is trying to attract, while Curaçao delivers the goods! Across the Caribbean basin there are boundless opportunities to invest in the island economies that compete relentlessly for sources of fresh capital, but few, if any, match the interest so eagerly expressed with the thoughtful and efficient service that Curaçao makes accessible to all prospective investors. Service, which the fiercely competitive environment we face today, can make all the difference when an investment decision is made.

“In short, Curaçao ‘gets it.’ “

For more information and application forms please visit: https://www.gobiernu.cw/pap/investorspermit