The Real Estate Agency of Curacao tells: Investors Permit Curacao. Buy real estate and stay!

The investors permit on Curacao

The Real Estate Agency of Curacao tells: Investors can provide a real economic benefit to Curaçao. To facilitate the stay of high net worth investors who wish to reside in Curaçao for a period of more than 6 months per year, the Government of Curaçao has issued the Guidelines Investors Permit 2014. The Guideline states the conditions of the permit and helps to find out whether this may apply to you. 

The goal of the Guidelines Investors Permit is to facilitate the investment in Curaçao (among others, purchase of real property or making a business investment) by high net worth foreigners, thus contributing to our economy. 

Requirements 

To qualify for the temporary permit as “high net worth investor” you must meet the following requirements: 

• Present official documents that you have made or intend to make a business investment of at least ANG 500.000.
• Having sufficient financial resources at your disposal to meet the obligations arising from the investment.
• A private health insurance policy. 

Conditions 

The first permit will be issued for a period of one or more years, depending on the amount of the investment. Subsequent permits will be issued for similar periods as long as the requirements for the residence permit are met. 

• With an investment of at least ANG 500.000 (US$ 281,000), you may qualify for a residence permit for a period of 3 years which will be renewed if the circumstances remain unchanged.
• With an investments of at least ANG 750.000 (US$ 420,000), you may qualify for a residence permit for a period of 5 years which will be renewed if the circumstances remain unchanged.
• Permit for an indefinite period . With an investments of at least ANG 1.500.000 (US$ 838,000), you may qualify for a residence permit for an indefinite period. In that case your permit does not need to be renewed. However you will still need to be able to have sufficient financial resources at your disposal and have a private health insurance policy. 

Reuniting or forming a family 

Family members

The investors permit also allows for a residence permit for members of your family. This makes it possible to reunite or form a family.
Your partner and your children may qualify for a residence permit of equal length as the permit that you have been issued.

Please note: 

• If your temporary residence permit or residence permit expires, the residence permits of the dependent family members also expire.
• In case your marriage is dissolved, your ex- partner must file for a change of permit.
• Refusal, Extension and Revocation of the investors permit. 

 

Refusal 

In some cases the (temporary) residence permit may be refused by the Minister of Justice. A reason to refuse might be: 

• In the interest of the public order or of general interest, including economic reasons;
• In case the applicant does not show sufficient financial means of support are available.

Extension

If you have been issued a permit for temporary stay, you need to timely request an extension. An extension will be issued on your request for similar periods of time in case the circumstances with regard to the conditions for residence have not changed. In practice, this means that you also need to show:

• that you still have sufficient financial means of support available;
• that you (and your family members) have a private health insurance policy.

Revocation 

In specific cases the (temporary) residence permit can be revoked by or on behalf of the Minister of Justice. The revocation will be issued in the form of a motivated decision. Reasons for revocation may be: 

• An irreversible conviction for violation of article 24 or article 25 of the LTU (National Ordinance on Admission and Expulsion); 
• An irreversible conviction for a criminal offence carrying an unconditional sentence of 3 months imprisonment or longer; 
• Protection of public mores; In case the general interest so requires; 
• In case you no longer have sufficient resources available to properly provide for yourself and the your family members that reside with you; 
• In case you do no longer satisfy one or more of the conditions subject to which the permit was granted (e.g. you have no longer invested the required amount). 

The decision to revoke the permit includes a notice that you will need to leave Curaçao within a reasonable period to be stipulated therein, to allow for a period of time to wind up affairs in an orderly fashion. 

Health Insurance Deposit 

Health insurance 

A residence permit is subject to the requirement that you, as well as your family members residing with you, have sufficient health insurance coverage, which includes coverage of admittance and care in a sanatorium or institution providing psychiatric care. 

Deposit 

In case you are granted a residence permit, it is required to pay a security deposit.
The amount of the security deposit depends on the nationality. 

In specific instances a deposit is not required. This applies e.g. to persons that were born in Curaçao and persons who do not need a residence permit, such as persons born on one of the other Dutch Caribbean islands (Aruba, Bonaire, St. Maarten, Saba and St. Eustatius) or in the Netherlands. 

Limitations Labor market

Limitations 

• Principal applicant:
  Your temporary residence permit will bear the following annotations: 

–  ‘admitted as investor’;

–  ‘employment for wages is only permitted if the employer is in possession of an employment permit.’

• Family members:
  The temporary residence permit issued to your family members on the grounds of reuniting or forming a family will bear the following annotations: 

–  ‘residing with (name of the principal applicant).’

–  ‘employment for wages is only permitted if the employer is in possession of an employment permit.’

Labor market annotations 

The annotations mean that in general you are not allowed to work for employer unless the employer has a permit. A permit may be granted in case you want to work in a profession for which there is a shortage of local people available. 

Period for decision 

In case you are willing to invest the required amount in Curaçao, the Immigration Services will give priority to your request for a residence permit. In case your request is fully completed with all the required documents, the Immigration Services will make a decision within a period of 2 weeks. 

The following documents are required

• fully completed, motivated and signed application form; copy of a valid passport;
• 4 passport photos;
• true copy of a recent birth certificate not older than 1 year;
• certificate of good behavior issued by the most recent place of domicile not older than 3 months;
• health insurance policy;
• statement from a local bank with regard to the amount of your investment;
• proof of payment of the fees and charges for the permit. 

Transitional regulation 

If you already have a temporary residence permit and believe you satisfy all the conditions of the new Investors Permit, you may file a request for modification of your existing permit to the new Investors Permit. If you have family members residing with you, you should in that case also request modification of their permits. 

 

This article was published in the series : The Real Estate Agency of Curacao tells.

 

International Fine Living does its best to inform people who buy a house on Curaçao or sell a house as well as possible. Unfortunately, our time is also limited and we will not always be able to publish the latest updates. We therefore always recommend that you verify the information provided. A special warning for all English text; the official language spoken on Curaçao is Dutch and Papiamento, please take into account that translation errors to English might occur.

Categorieën: Curaçao Real Estate