Information on the establishment of a corporation in Curaçao

 

Select a type of corporation: (Select 1)

1) BV (Private Limited Liability Company): Private limited liability company

2) NV (Public Limited Liability Company): Public limited liability company (applicable for the purpose of public offering, etc.)

 

Local tax rate in Curaçao:

22%

There is no tax rate for income generated outside of Curaçao.

 

When calculating the local tax rate in Curaçao:

Total local expenditure in Curacao/Total expenditure incurred outside of Curacao x 22%

​

Procedure:

1. Submit required documents and pay the fee

2. Notarize the documents in Curacao and proceed with the establishment of the company in the name of the local law firm

3. Incorporate the company

4. Transfer the shares to the client and register the directors

5. Register the documents

6. Complete the registration process and complete the establishment of the company

​

Estimated time required:

2 to 3 weeks

* The Curaçao entity must have at least one local person listed as a director or representative.

 

[Cost Information]

​

1. Incorporation: 6,100 euros

(Included)

1) Government registration (Chamber of Commerce and Registry)

2) Articles of incorporation and incorporation documents

3) Document preparation and notarization

4) Chamber of Commerce and Industry documentation and registration

5) Share transfer and director registration

6) Share documentation and legal record documentation

7) CBIB tax identification number application and acquisition

8) Business license application and acquisition

9) Document delivery

​

2. Local director registration (choose 1)

1) Local director annual fee: 5,800 euros

(Included)

a) Register as a corporate representative with the local government and bank

b) Provide a local address

c) Provide local secretarial services

d) Prepare and submit annual reports

 

2) Annual cost for a local managing director: 7,000 euros

​

(Included)

a) Register as a corporate managing director with the local government and bank

b) Sign a contract if necessary

c) Sign a board resolution if necessary

d) Provide a local address

e) Provide local secretarial services

f) Prepare and submit an annual report

 

3. Accounting/tax reporting: 3,500 EUR (estimated) (billed in January each year)

* Bookkeeping is not included and a final estimate will be provided after confirming the transaction details.

* Curaçao must submit financial statements and income tax returns each year.

 

Requirements and documents to be prepared for incorporation:

1. A copy of the passport of the shareholder/director.

2. Authentication of the original copy of the passport of the shareholder/director.

- Korean passport: A copy of the English passport (issued by the district office or city hall) ( See sample )

- Passport of other countries: Certified True Copy or Notarial Certificate ( See sample )

 

3. Two recent (within the last three months) English-language address verification documents for the shareholder/director (must be from the same address)

- Living in Korea: English copy of resident registration (residence center) + front and back of driver's license scan (View sample)

- Living in another country: Utility bill + bank statement (or equivalent official document) (View sample)

​

4. Expert recommendation letter (Request for expert recommendation letter)

- Those who can sign the recommendation letter: Accountant, lawyer, judicial scrivener, tax accountant, labor consultant, administrative scrivener, insurance agent, financial planner, financial person, doctor, professor, employer, etc. (View sample)

 

5. English resume or LinkedIn profile

 

6. Application for incorporation

​​​

​

Gaming Sub-license Acquisition Guide

​

Required documents for license application:

​

1. English criminal record report of UBO (direct/indirect shareholders and managers of 10% or more) (no criminal record)

2. Domain registration certificate (English)

3. (White Label) Software License Agreement (In the case of self-developed games, separate certification related to game operation prevention is required)

4. Server License Agreement

5. Network Diagram (Operating equipment, location, role of Curacao server, etc.)

6. Terms and Conditions (Separate cost when requested to prepare)

7. KYC/AML Policies and Manual (Separate cost when requested to prepare)

8. A declaration stating that the company will block access by minors and post information on gambling addiction on its website (provided by the company)

9. A declaration on the change of software provider (provided by the company)

10. Registration with the Curacao FIU (Financial Intelligence Unit) (provided by the Company)

11. English business plan (must include all of the following)

 

1) Description of the game

2) Corporate governance

3) Marketing strategy

4) Target market

5) Investment funds to be invested

6) Screenshots of the game screens below

 

a. User account registration and opening page

b. Login/logout

c. Terms and Conditions / Rules and procedures

d. Player Rules

e. Payouts

f. Withdrawing

 

Additional fees (optional):

1) If you need to create or consult on service policy-related documents such as Terms and Conditions, KYC/AML Policies and Manual, 3,000 to 5,000 euros per case

2) Liaison with the master license holder: 1,500 euros per year

3) Accounting and tax reporting in January of each year: 3,500 euros (estimated)

4) Opening an EMI (virtual) account: 500-830 euros

(We can provide you with a list of EMI companies, or you can contact them individually from the list to open an account.)

 

Important Note:

Curaçao is required to submit financial statements and income tax returns every year. If you issue tokens or engage in related transactions, you must convert them into fiat currency and account for them accordingly, and prepare wallet records and transaction documents accordingly. Therefore, it can take a considerable amount of time and cost to complete the closing process. For the issuance and trading of tokens, we recommend St. Vincent LLC, etc. as there is no current regulation on virtual assets and there is no obligation to settle accounts.