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Created page with "Aruba has a lot of opportunities for businesses. The thriving tourism sector is the biggest driver of the Aruban economy. Aruba is a highly developed country, and the tax and..."
Aruba has a lot of opportunities for businesses. The thriving tourism sector is the biggest driver of the Aruban economy. Aruba is a highly developed country, and the tax and company laws are similar to Dutch law.
==Investment and Offshore==
Aruba is fast developing as an international financial services center. Favorable provisions in the form of special tax concessions for investment companies exist. Some possibilities are Finance Companies, Offshore Banking Companies, Royalty Companies, Investment and Holding Companies. Another interesting possibility is the AVV or Aruba Exempt Company.
A business license is required for an incorporated company and non-residents always needs a business license for starting a business on the island. The granting of a license depends on the kind of business that will be established, an important factor being whether the business contributes to an enlargement of the economic basis of Aruba and if it is capital-intensive.
Before starting your own business other authorities may have to be contacted to obtain licenses and for you to become familiar with procedures and regulations.
Business license application requirements differ depending on the type of businesses with some having special requisites such as restaurants, beer houses or café, car rental, bus tours and water sport related companies.
There are certain guidelines which need to be taken into consideration when forming a company and it is important to be familiar with these.
==Licenses==
Before starting its business operations, a corporation must apply for the following licenses:
====A Business License====
This allows the company to start and maintain a business in Aruba. Applications must be directed to the Minister of Economic Affairs.
====A Director's License====
Must be sought for each of the company's foreign managing directors, allowing him to act on behalf of the company. Applications must be directed to the Minister of Economic
Affairs.
====A Residence And Work License====
Must be sought for any foreigner to be employed by the company, who intends to take up residence in Aruba.
====Temporary Or Permanent Work Permit====
Any foreigners who want to be employed or conduct business on the island must have a work permit. The work permit will normally be granted only if there are not qualified persons locally available. In general, requests for work-permits will only be taken into consideration if filed through a local employer, who has to accept full responsibility for any possible expenses to be made by the government relative to the employees.
====Written Permits====
With the exception of tourists, all other persons should have a written permit to prove their legal presence on the island. This means that one (unless a tourist) should not travel to or be on the island pending a request for a residence-and/or work permit.
==Investment and Offshore==
Aruba is fast developing as an international financial services center. Favorable provisions in the form of special tax concessions for investment companies exist. Some possibilities are Finance Companies, Offshore Banking Companies, Royalty Companies, Investment and Holding Companies. Another interesting possibility is the AVV or Aruba Exempt Company.
A business license is required for an incorporated company and non-residents always needs a business license for starting a business on the island. The granting of a license depends on the kind of business that will be established, an important factor being whether the business contributes to an enlargement of the economic basis of Aruba and if it is capital-intensive.
Before starting your own business other authorities may have to be contacted to obtain licenses and for you to become familiar with procedures and regulations.
Business license application requirements differ depending on the type of businesses with some having special requisites such as restaurants, beer houses or café, car rental, bus tours and water sport related companies.
There are certain guidelines which need to be taken into consideration when forming a company and it is important to be familiar with these.
==Licenses==
Before starting its business operations, a corporation must apply for the following licenses:
====A Business License====
This allows the company to start and maintain a business in Aruba. Applications must be directed to the Minister of Economic Affairs.
====A Director's License====
Must be sought for each of the company's foreign managing directors, allowing him to act on behalf of the company. Applications must be directed to the Minister of Economic
Affairs.
====A Residence And Work License====
Must be sought for any foreigner to be employed by the company, who intends to take up residence in Aruba.
====Temporary Or Permanent Work Permit====
Any foreigners who want to be employed or conduct business on the island must have a work permit. The work permit will normally be granted only if there are not qualified persons locally available. In general, requests for work-permits will only be taken into consideration if filed through a local employer, who has to accept full responsibility for any possible expenses to be made by the government relative to the employees.
====Written Permits====
With the exception of tourists, all other persons should have a written permit to prove their legal presence on the island. This means that one (unless a tourist) should not travel to or be on the island pending a request for a residence-and/or work permit.