In addition to assisting Curacao enterprises in creating bank accounts in Europe, we also provide Curacao gaming license acquisition services. With more than a decade of expertise, we have assisted many clients in obtaining Curacao licenses.
What documentation must a Curaçao firm present to the bank to initiate the onboarding procedure?
Curacao businesses are normally required to provide the following documentation to initiate the opening of a bank account:
To start the onboarding process for a bank account, a Curacao company typically needs to provide several documents, including:
- Certificate of incorporation and registration: This document confirms that the company is legally registered in Curacao.
- Articles of Association: This document outlines the company’s internal regulations and governance structure.
- Proof of identity: The bank will require personal identification documents for all company directors and authorized signatories.
- Company bank statements: The bank may require bank statements for the past 6 to 12 months to assess the company’s financial stability.
- Source of funds: A detailed explanation of the source of the company’s funds and expected transactions.
- Professional references: References from lawyers, accountants, or other professional advisors who can verify the company’s legitimacy and reputation
Owing to its permissive regulatory environment, the island country of Curacao is quickly becoming a popular site for firms in the casino and online gambling sectors. Yet, because Curacao is an offshore country, obtaining a commercial bank account for a Curacao-based firm might be challenging.
The procedure of opening a business bank account for a Curacao-based company normally involves submitting corporate paperwork such as the certificate of formation, articles of association, and verification of the firm’s physical address. The bank may also request the company’s commercial operations, as well as the identities of its directors and owners, as extra pieces of information.
Because Curacao is considered an offshore country, opening a bank account for a Curacao-based business might be difficult. This is one of the key causes of the challenge. Due to worries over the laundering of illegal cash and the evasion of taxes, banks and regulatory agencies have a larger likelihood of increasing their vigilance and skepticism. It is likely that some banks would flatly refuse to do business with offshore corporations, while others may need additional documentation and rigorous due diligence procedures.
Nonetheless, there are some banks who are more ready to engage with Curacao-based enterprises. Particularly in Europe, the financial institutions that handle electronic currency have a reputation for being more accommodating to the gambling sector. These establishments are permitted to provide financial services and may offer a number of services, including payment processing, merchant accounts, and electronic wallets, among others.
Due to the island’s position as an offshore jurisdiction, it may be difficult to register a commercial bank account for a Curacao company, although it is not impossible. While certain banks may be more ready to engage with Curacao firms than others, the vast majority of banks will demand such collaboration.
