In this article, we’re sharing how to open an offshore bank account in Curaçao for foreign non-resident individuals and entities.
In the following sections, we’ll break down your offshore banking options in Curaçao, including who can open a Curaçao bank account, the benefits of offshore banking in Curaçao, and the key reasons why you might want to consider banking here in the first place.
If you want access to our free series on banking in the island country of Curaçao, click the link above and unlock our team’s expert take on Curaçao banks, Curaçao banking requirements, personal and business banking in Curaçao, and much more.
You can also use the table of contents and jump to the section that matches your offshore banking needs in Curaçao below.
Table of Contents
- Open an Offshore Bank Account in Curaçao
- Who Can Open an Offshore Bank Account in Curaçao?
- Benefits of Offshore Banking in Curaçao?
- Frequently Asked Curaçao Banking Questions
- Ready to Open an Offshore Bank Account?
Open an Offshore Bank Account in Curaçao
An offshore bank account in Curaçao can be opened by both foreign non-resident individuals and entities. To open accounts successfully in Curaçao, applicants will need to select suitable Curaçao banks, complete AML and KYC procedures, and make a qualifying deposit.
Unlike a number of other banking jurisdictions, Curaçao has stable banks, and strong correspondents, and requires low deposits to open accounts. That said, there are common financial threats and risks to banking in Curaçao and service restrictions you need to consider. Likewise, if you don’t select the right bank, the accounting expenses and Curaçao banking costs can be high and account opening can be challenging.
However, if you can successfully navigate Curaçao account opening, you will be able to unlock a jurisdiction that offers a layer of financial privacy through international banking. Of course, privacy is just one of the many financial advantages and Curaçao banking benefits you can access when opening offshore accounts in the country.
Like other offshore jurisdictions, the Curaçao banking services and financial options are supplemented by a wide range of Curaçao service providers. The non-banking services available in Curaçao include offshore company formation, estate planning, investment management, and various business licenses including gambling and gaming.
This combination of services, remote opening, and licensing makes Curaçao a suitable jurisdiction for anyone seeking related banking services. With this in mind, let’s look at who can open an offshore bank account in Curaçao in the next section of the article.
Who Can Open an Offshore Bank Account in Curaçao?
In order to determine who can open an offshore bank account in Curaçao, each applicant needs to consider their client profile, perceived risk, their rationale for banking in Curaçao, and their ability to meet the necessary documentation and Curaçao banking requirements imposed by each bank.
That said, both foreign non-resident individuals and entities are eligible to open offshore bank accounts in Curaçao. This includes individuals and entities with existing ties to Curaçao, planned future ties to Curaçao, and no ties to Curaçao whatsoever.
Of course, individuals with residency in sanctioned countries or countries that are generally considered blacklisted will not be eligible to bank in Curaçao. Likewise, citizens of these countries regardless of their residency may struggle to open accounts with Curaçao banks in general.
Similarly, foreign non-resident entities that are registered in or operate from sanctioned or blacklisted countries will not be able to open an offshore bank account in Curaçao.
Not surprisingly, there are important nuances when opening offshore bank accounts in Curaçao for each client type. With this in mind, let’s explore offshore bank accounts in Curaçao for individuals, companies, and wealth management entities below, starting with Curaçao bank accounts for individuals.
Curaçao Offshore Bank Account for Individuals
Foreign non-resident individuals can open offshore bank accounts in Curaçao. That said, there are only a handful of regulated financial institutions and lists of banks in Curaçao that accept foreign non-residents.
Additionally, many non-residents will find that the specific services offered by banks in Curaçao do not meet their international banking requirements.
With this in mind, selecting the right Curaçao banks to apply to is an important first step toward offshore banking in the country.
In short, whether you’re planning on opening an account with one of the prominent financial leaders, the largest banks in Curaçao, or a smaller banking group, you need to select Curaçao banks that offer the services you require and that will open accounts for you.
Not surprisingly, the top-ranking financial entity and the best bank in Curaçao will be different for each applicant seeking Curaçao offshore accounts. But generally speaking, individuals seeking a jurisdiction with the following characteristics might want to consider opening in Curaçao.
Why Open a Curaçao Offshore Bank Account as an Individual?
- Clean offshore banking reputation
- Low account opening deposit requirements
- Low ongoing balance requirements
- Remote opening is available to most clients
- Accepting most nationalities and residencies
If you’re interested in setting up an individual account to access Curaçao personal banking, you can click this link to access our free guide now. On the other hand, if you are looking for a Curaçao bank account for companies, the following section will be relevant to you.
Curaçao Offshore Bank Account for Companies
Foreign companies can open an offshore bank account in Curaçao. However, companies generally have fewer Curaçao banks to choose from than individuals.
Additionally, most Curaçao banks ask companies to demonstrate their ties to Curaçao before opening accounts. For example, “ties” can include commercial relationships like Curaçao suppliers, Curaçao customers, Curaçao contractors, or Curaçao-based employees.
In other words, does your company have a clear reason to open a Curaçao bank account, a requirement to transfer a payment or send money to Curaçao, or other justification for needing to bank in the country?
Likewise, if your business has a specific need to transact in the ANG (the currency of Curaçao), this could be enough to open accounts at certain (not all) Curaçao banks.
Of course, applicants also need to select Curaçao banks that offer the services their companies require and deposits their company can afford. Generally speaking, Curaçao banks ask foreign companies for a minimum deposit of USD 10,000.
All things considered, companies seeking a banking jurisdiction with the following characteristics might want to consider opening offshore accounts in Curaçao.
Why Open a Curaçao Offshore Bank Account for a Foreign Company?
- Accepting of certain high-risk industries (gaming and gambling)
- Accepting of offshore and foreign companies
- Interim banking solutions available for offshore companies
- Squeaky-clean banking jurisdiction reputation
- No proof of local presence is required at certain banks
- Low account opening deposits (compared to other offshore jurisdictions)
If you want to establish a corporate account to access Curaçao business banking for an offshore entity, you can click this link to access our free guide now.
On the other hand, if you are looking for a Curaçao bank account for wealth management purposes, the following will be relevant to you.
Curaçao Offshore Bank Account for Wealth Management
Individuals looking for a Caribbean banking jurisdiction to access wealth management services for themselves or wealth management entities might consider Curaçao as an option.
However, it’s important to point out that Curaçao is not a wealth management jurisdiction. Instead, Curaçao is more often associated with offshore personal and business banking.
That said, certain Curaçao banks do offer private banking and investment services. However, the level of service and sophistication is going to be considerably lower than more traditional private banking jurisdictions elsewhere in the Caribbean and Europe.
However, if you would like to enroll in personalized services like Curaçao private banking, you can click this link to access our free guide now.
Alternatively, if you are interested in exploring the broader benefits of offshore banking in Curaçao, continue reading to see why Curaçao might be worth exploring further.
Benefits of Offshore Banking in Curaçao?
The benefits of offshore banking in Curaçao are similar to those available in other offshore banking jurisdictions. These benefits include remote opening, multi-currency accounts, online account management, and more.
However, Curaçao does have a number of unique offshore banking benefits to offer as well. These unique Curaçao banking benefits include a clean country reputation (non-blacklisted), the possibility to open accounts remotely, no proof of local ties required, and support for certain gaming and gambling entities.
Here is a closer look at the offshore banking benefits you can unlock in Curaçao as a foreign non-resident.
Benefits of Offshore Banking in Curaçao
- Clean reputation (non-blacklisted)
- Possible to open accounts 100% remotely
- No proof of local ties required
- Accepting certain high-risk industries
- Low minimum deposit requirements
- Low minimum balance requirements
- Accepting of certain gambling entrepreneurs
- And more
Frequently Asked Curaçao Banking Questions
Below are a few of the most common questions we receive about opening offshore accounts in Curaçao. If you have further questions you would like answered, don’t hesitate to contact us directly.
Can Foreigners Open Bank Accounts in Curaçao?
Yes, foreigners can open bank accounts in Curaçao. In fact, it is possible for foreigners to open bank accounts in Curaçao without ever visiting the island. That said, not all banks in Curaçao accept foreign non-residents. And, of the ones that do, not all offer a full suite of offshore banking services. So, bank selection is critical to successfully opening accounts that will meet your needs.
Can I Open an Account in Curaçao?
Yes, you can open an account in Curaçao as long as you meet the account opening requirements, can support the required opening deposit, and navigate the onboarding process successfully.
How Do I Open a Bank Account in Curaçao?
The process to open a bank account in Curaçao depends on the bank, account type, and client profile. This is because account opening requirements, including deposit requirements, can vary depending on citizenship, residency, banking objectives, and more. So, it’s important to confirm each bank’s account opening requirements, process, and the clients they accept prior to applying to open an account in Curaçao.
Ready to Open an Offshore Bank Account?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
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And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
Use this link to see how GlobalBanks Insider can help you successfully open accounts.
