In this article, we’re exploring the banking and financial services that individuals and companies can access when opening a Curaçao bank account from abroad.
This will include an overview of the available services offered by Curaçao banks to foreign non-residents, the services Curaçao banks do not offer, and a comparison of Curaçao and other banking jurisdictions.
If you would like access to our free country guide and complete series on Caribbean banking in Curaçao, use the link to unlock access now.
Alternatively, keep reading to learn more about the banking and financial services that you can access as a foreign non-resident when banking in one of the Caribbean’s most popular banking jurisdictions.
Table of Contents
- Curaçao Banking Services
- What Banking Services Are Available in Curaçao?
- What Banking Services Are Not Available in Curaçao?
- How Does Curaçao Compare to Other Jurisdictions?
- Benefits of Curaçao Banks
- Frequently Asked Curaçao Banking Questions
- Ready to Open an Offshore Bank Account?
Curaçao Banking and Financial Services
Curaçao banking and financial services include personal retail banking, local business banking, offshore banking for individuals and entities, payment cards, credit facilities, merchant banking, and private banking.
In other words, depending on your client profile, you can get access to everything from retail finance management and personal banking in Curaçao to private banking and business banking. That said, depending on which of the 49 banks in Curaçao you decide to open an account with, the specific services you’ll be able to access will vary.
Not surprisingly, those banks with an International License will offer services tailored to non-residents looking for international finance services or offshore banking in Curaçao, while those banks with a General License are more likely to serve Curaçao residents, citizens, and local businesses.
In the following sections, we will take a closer look at the specific services foreigners, non-residents, and foreign entities can access in Curaçao. Plus, we will also discuss the financial dues and various Curaçao banking costs account holders need to expect.
But first, as a quick recap, here is a list of the Curaçao banking and financial services that most customers can unlock when banking in the country.
Curaçao Banking and Financial Services
- Curaçao retail banking
- Local Curaçao business banking
- Offshore banking for non-resident individuals
- Offshore banking for foreign and offshore entities
- Payment cards tied to Curaçao bank accounts
- Banking for Curaçao and foreign licensed entities
- Private banking and investment services
- Foreign currency accounts in USD, EUR, and CAD
What Banking Services Are Available in Curaçao?
Banks in Curaçao tend to offer basic banking and investment services compared to other international banking jurisdictions. With this in mind, the Curaçao banks that open for foreign non-resident individuals and entities are often suited to an applicant who has clear ties or rationale for wanting to open a bank account here.
Additionally, Curaçao banks may be a suitable option for anyone looking for banking with exposure to the Antillean Guilder (ANG), the currency of Curaçao, as well as certain foreign currencies. That said, foreign currency transactions can be expensive in Curaçao. So, if you are planning on making frequent transactions into and out of your Curaçao bank account, you may want to consider opening in other jurisdictions.
Not surprisingly, the specific services that each Curaçao bank offers will vary widely. So, if you are looking to bank in Curaçao in order to access specific services, you should confirm whether these services will be available to you before applying for an account. This is especially important if you are looking to open a business bank account in Curaçao, as the available services and costs can vary widely.
To help you better understand which banking services you can access in Curaçao, we’ll break down the services that non-resident individuals, businesses, and entities can unlock in Curaçao below.
We’ll also review a few of the non-banking and financial services that Curaçao has to offer, which are important for anyone considering Curaçao residency, Curaçao real estate investments, or pursuing a specific business license in Curaçao.
Foreign Non-Resident Banking Services in Curaçao
The banking and financial services that foreign non-resident individuals can access in Curaçao include:
- Basic Curaçao checking accounts
- High-yield Curaçao savings accounts
- Domestic transfers between Curaçao banks
- International transfers in USD, EUR, and CAD
- International payment cards
If you would like to access these personal banking services, you can start by reviewing our guide on opening a personal bank account in Curaçao. Alternatively, you can dig into the essential documents and Curaçao banking requirements you’ll need to meet by clicking here.
Curaçao Business Banking Services
The banking and financial services that foreign non-resident businesses can access in Curaçao include:
- Checking accounts for Curaçao and foreign entities
- Domestic transfers to Curaçao banks
- International transfers in USD, EUR, and CAD
- Payment cards tied to the Curaçao bank account
If you would like to access these business banking services, you can start by reviewing our guide on corporate-related services and Curaçao business banking by clicking here.
Curaçao Private Banking Services
If you’re looking for concierge financial services or Curaçao private banking, you should first reflect on the specific private banking services that you are trying to access. This is because Curaçao is not a private banking jurisdiction.
Instead, Curaçao is an offshore banking jurisdiction that certain non-resident clients can access when opening accounts. With this in mind, most applicants who are specifically looking for private banking find other jurisdictions to be better suited to their needs.
That said, if you are interested in opening a private bank account in Curaçao, you will be able to access the following basic services.
- Basic international investment accounts
- Special savings plans and accounts
- Accounts for wealth management entities and holding companies
If you would like to access these private banking services, you can start by reviewing our guide on opening a private bank account in Curaçao.
Curaçao Non-Banking and Financial Services
Curaçao is an under-the-radar banking jurisdiction. In fact, for most people, Curaçao isn’t even an account opening consideration. That said, for eGaming and gambling businesses, Curaçao can present an interesting account opening opportunity.
Not surprisingly, thanks to Curaçao’s favorable licensing regime for gaming and gambling companies, a number of non-banking and financial services have emerged to support these operations.
that you can access through Curaçao service providers.
- Corporate structuring of Curaçao companies
- Licensing for gaming and gambling companies
- Offshore server farms for gambling and gaming companies
- Management and nominee director services
- Accounting and professional services in Curaçao
- Curaçao residency and citizenship services
- And more
Importantly, the level of service, communication, and competency can vary widely in Curaçao when it comes to service providers. So, it’s important to seek out Curaçao firms that specialize in your area of interest and have reviews from trusted sources.
Which Banking Services Are Not Available in Curaçao?
While Curaçao is an offshore banking hub, there are limits on the services that you can access in the country. Also, as mentioned above, Curaçao is best placed to serve individuals with clear ties or rationale for wanting to open a bank account here.
With this in mind, Curaçao banks and the services they offer, are aimed at non-resident clients and businesses in specific industries seeking basic offshore banking services like offshore accounts. With this in mind, here’s a look at the banking and financial services that cannot be accessed in Curaçao.
Sophisticated Banking and Financial Services
As mentioned, Curaçao typically caters to individuals with clear ties or rationale for wanting to open a bank account here. Accounts can be opened with a min USD 1,000 from abroad and even less when opening in person. In most cases, individuals and entities looking to bank in Curaçao are seeking basic banking services.
As a result, individuals and entities seeking access to wealth management and private banking services will be better served in a traditional private banking jurisdiction.
Of course, it is possible to open private banking and investment accounts in Curaçao. However, the services, sophistication, and support is often better in other international banking jurisdictions.
Support for Cross-Border Transactions
The ability of banks in Curaçao to support cross-border transaction activity will depend on where you plan to send money. Likewise, if you are looking to move funds or send money to Curaçao, the country of origin will impact your options.
This is especially important for anyone who wants to hold accounts outside of USD, EUR, CAD, or ANG. Additionally, it’s important to note that the transfer fees for sending and receiving transfers in USD, EUR, and CAD can be much higher than in other offshore jurisdictions.
While this does not necessarily impact opening Curaçao bank accounts, it does mean that you should confirm whether banking in Curaçao meets your transaction needs before opening accounts.
How Does Curaçao Compare to Other Jurisdictions?
Compared to other international banking jurisdictions, Curaçao is best suited to applicants who have clear ties or rationale for wanting to open a bank account here. In other words, depending on your profile, Curaçao banks may not be the best fit for you as there could be better-suited banking jurisdictions elsewhere.
As always, we suggest comparing the available services, banking benefits, banking vulnerabilities, and risks of banking in Curaçao against the other jurisdictions that you might be considering instead.
How Does Curaçao Compare Regionally?
Curaçao is better placed to serve foreign non-resident individuals and entities than several other offshore jurisdictions in the Caribbean. This is especially true when you consider the safety of Curaçao banks and the stability of Curaçao’s correspondent bank relationships. Additionally, while many jurisdictions are forcing applicants to demonstrate clear economic ties prior to account opening, it is still possible to open in Curaçao as a foreign non-resident.
Which Services Should You Consider in Curaçao?
With this in mind, Curaçao is well-positioned to offer basic banking and financial services to individuals from most countries. And, as mentioned above, certain Curaçao banks will also accept companies operating in higher-risk industries.
Benefits of Curaçao Banks?
In short, the monetary incentives and Curaçao banking benefits will depend on your client profile, desired deposit, expected transactions, your reasons for banking in Curaçao, and the Curaçao bank you decide to open with.
That said, there are general benefits that most people can expect when banking in Curaçao, which include the following.
Benefits of Opening With Curaçao Banks?
- Low initial deposits for non-resident clients
- Remote account opening for most clients
- Accepting of most citizenships and residencies
Benefits of Banking in Curaçao?
- Stable correspondent bank relationships
- Stable political environment
- Stable economic environment
These are just a few of the general benefits that you can access when banking with some of the superior financial companies and the best banks in Curaçao. Of course, if you would like to start exploring your options you can use the free Curaçao banking guides linked above.
Alternatively, if you would like to explore a list of financial parties and a list of the banks in Curaçao that might be worth considering, you can click here now. This list includes some of the top global banking corporations and the largest banks in Curaçao, including both domestic and international financial institutions.
Frequently Asked Curaçao Banking Questions
Below are a few questions we receive from people exploring banking and financial services in Curaçao. If you have further questions you would like answered, don’t hesitate to contact us directly.
Can a Foreigner Open a Bank Account in Curaçao?
Yes, a foreigner can open a bank account in Curaçao. In fact, a foreigner can open a personal, business, or private bank account in Curaçao. That said, not all banks in Curaçao accept foreign non-residents. So, it’s important to know which banks, branches, and even bankers to approach before applying to open an account.
What Is the Largest Bank in Curaçao?
The largest bank in Curaçao in terms of total assets in the year 2022 is Maduro & Curiel’s Bank with USD 5.3 billion.
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