Offshore Bank Account

 
Aruba is a small (75 sq m) island off Venezuela with a population of approx. 100,000. Aruba is an associated territory of the EU. The Aruban economy is very open and is highly dependent on tourism and offshore financial services. Local taxes are quite high for residents, but there is a well-developed offshore sector which originated in World War Two as a haven for Dutch companies fleeing the German occupation of the Netherlands.

A New Fiscal Framework introduced alongside a new Dutch Tax Treaty (BRK) in response to international pressure as from 1st July 2003 abolished the distinction between offshore and onshore companies, but installed a generous participation exemption scheme which in effect maintains previous tax privileges for non-Aruban business activities.
 

List of Aruba Banks
Offshore Bank in Aruba.

 

Banco di Caribe N.V.

Vondellaan 31
P.O. Box 493
Aruba
Tel.: (297)523-2000
Fax: (297)583-2422

Caribbean Mercantile Bank N.V.

Caya G.F. Betico Croes 53
P.O. Box 28
Aruba
Tel.: (297)582-3118
Fax: (297)582-4373

Caribbean Mercantile Credit Company N.V.

L.G. Smith Boulevard 116
P.O. Box 601
Aruba
Tel.: (297)582-1873
Fax: (297)582-5116

Centrale Bank van Aruba

J.E. Irausquin Blvd. 8
Aruba
Tel.: (297)525-2100
Fax: (297)583-2251

First National Bank of Aruba

Caya C.F. Betico Croes 67
P.O. Box 184
Aruba
Tel.: (297)583-3221
Fax: (297)582-1756

Interbank Aruba N.V.

Caya G.F. Betico Croes 38
Aruba
Tel.: (297)583-1080
Fax: (297)582-4058

Ohra Hypotheekbank N.V.

L.G. Smith Boulevard 62
Marisol Building
Aruba
Tel.: (297)583-9666
Fax: (297)583-9498

RBTT Bank Aruba N.V.

Caya G.F. Betico Croes 89
P.O. Box 391
Aruba
Tel.: (297)588-0101
Fax: (297)582-1856

Sociale Verzekeringsbank

L.G. Smith Boulevard z/n
Aruba
Tel.: (297)587-3158
Fax. 8297)587-2783

 

 

Aruba Banking


Aruban banks are supervised by the Central Bank of Aruba under the State Ordinance on Supervision of the Credit System, 1998, amended 1999.

During the registration process, information is required as follows:

The number, the names and the past history of the persons who determine the day-to-day policy of the enterprise or institution;
The number, the names and the past history of the members of the supervisory board of the enterprise or institution or of the body of the enterprise or institution having a task comparable with that of a supervisory board;
The names of those who have a qualifying holding in the enterprise or institution, as well as the size of any such qualifying holding;
Annual accounts or an opening balance sheet which shall be provided with an auditor's report, signed by an auditor;
A programme of operations which the enterprise or institution intends to carry on;
The envisaged administrative organization and management controls, including the financial accounting system and internal control;
The deed of incorporation of the enterprise and institution.
The Bank may request the applicant to furnish additional information regarding the application for authorization or the type of business to be pursued.

The Bank will decide on the application within thirteen weeks of the date of receipt of the application or any subsequent information that is requested.

The Bank may refuse authorisation, inter alia, if:

The Bank is of the opinion that the expertise of one or more persons who determine or codetermine the policy of the enterprise or institution is insufficient in connection with the pursuit of the business of a credit institution;
On the grounds of the intentions or the past history of one or more persons who determine or codetermine the policy of the enterprise or institution, the Bank is of the opinion that the interests of the creditors or future creditors of the enterprise or institution could be jeopardised;
If the Bank is of the opinion that, as a result of a qualifying holding in the enterprise or institution, the sound banking policy of the enterprise or institution is or could be subject to an undesirable influence;
The financial report is a report to the effect other than that the annual
accounts or opening balance sheet give a true and fair view of the financial position of the enterprise or institution;
If the has reason to assume that the enterprise or institution has applied for authorisation in order to evade regulations pertaining to the supervision of the credit system in another country.

 

Offshore Directory by country:

Alderney Costa Rica Nevis
Andorra Cyprus Netherlands Antilles
Anguilla Dominica Swiss-Switzerland- Suisse
Antigua Austria Bahamas
Barbados Belgium Belize
Bermuda Aruba Labuan - Malaysia
Cape Verde Dubai UAE Liechtenstein
Islands Cook Gibraltar Monaco
Cayman Islands Grenada Saint Vincent
Hong Kong Guernsey Uruguay
Isle of Men Jersey Latvia

 

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