What are some of the key KYC/AML regulations in Curaçao?

Pursuant to laws and regulations on combating money laundering and terrorist financing, service providers must take reasonable measures to monitor clients and their transactions on a continuous and/or regular basis by means of an established risk profile and risk classification of that specific client.

To assist in the fight against money laundering and terrorism financing, the Government of Curacao established the National Ordinance Reporting Unusual Transactions (NORUT) and the National Ordinance Identification when Rendering Services or NOIS.

There is no banking secrecy legislation as such, but the jurisdiction does not normally respond to requests for help on tax matters or beneficial ownership clarification from anyone other than treaty partners.

Company formations are done by a Notary Public. Once incorporated, an offshore company needs to obtain foreign exchange control exemption and a business licence.

Curaçao is an active and complying member of various international organisations, such as the OECD, the Egmont Group, the Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF).