Curaçao or Cayman Islands: where should you start a business?
The Cayman Islands ranks higher in the index, 08 against 19. Which suits you depends on where the owners live, what the company is for and how it will be run.
Pillar by pillar
Doing business, side by side
Tax
Profit tax is 15% up to NAf 500,000 and 22% above, according to a local law firm and a gazette report. Turnover tax is charged at 6%.
Companies pay no corporate income, capital gains or withholding tax, and no VAT is charged. Individuals pay no income or inheritance tax.
Set-up
A limited company is incorporated by notarial deed before a Curaçao civil-law notary and registered with the Chamber of Commerce and Industry.
Registration costs CI$700 to CI$2,568 by capital band. An express service completes within 24 hours for CI$500 more, and no minimum capital applies.
On the ground
Managing directors of an NV can be of any nationality, although in some cases one must be resident. There is no company-law minimum capital.
Directors need not live in the islands, but the company must keep a registered office there. Economic substance requirements depend on the activity.
Ownership
The UBO register in force since 8 June 2024 is closed. Unrestricted access is limited to authorities such as the Central Bank and the FIU.
Since 28 February 2025 the beneficial ownership register is open only to persons with a legitimate interest, including journalists, at CI$75 an application.
Residence
A business investment from XCG 500,000 gives a three-year permit, from XCG 750,000 a five-year permit, and from XCG 1,500,000 an indefinite one.
The Certificate of Direct Investment requires at least CI$1,000,000 invested in a licensed business that generates employment.
Living and working
Currency
Caribbean guilder.
Cayman Islands dollar.
Time zone
UTC-4.
UTC-5.
Personal tax
The top marginal rate in 2026 is 46.5% on income above Cg 162,894.
There is no income, inheritance, capital gains, gift or property tax, but most real estate sales carry 7.5% stamp duty.
Flights
KLM, TUI and Corendon fly to Europe; American, JetBlue, United, Delta, Air Canada and WestJet to North America; Copa also serves it.
Services include British Airways to London via Nassau and Delta and JetBlue to New York; there is no Dubai or Singapore service.
Language
English, Dutch and Papiamentu are the official languages.
Curaçao vs Cayman Islands: common questions
Curaçao: Profit tax is 15% up to NAf 500,000 and 22% above, according to a local law firm and a gazette report. Turnover tax is charged at 6%. The Cayman Islands: Companies pay no corporate income, capital gains or withholding tax, and no VAT is charged. Individuals pay no income or inheritance tax.
Curaçao: A limited company is incorporated by notarial deed before a Curaçao civil-law notary and registered with the Chamber of Commerce and Industry. The Cayman Islands: Registration costs CI$700 to CI$2,568 by capital band. An express service completes within 24 hours for CI$500 more, and no minimum capital applies.
Curaçao: Managing directors of an NV can be of any nationality, although in some cases one must be resident. There is no company-law minimum capital. The Cayman Islands: Directors need not live in the islands, but the company must keep a registered office there. Economic substance requirements depend on the activity.
Curaçao: The UBO register in force since 8 June 2024 is closed. Unrestricted access is limited to authorities such as the Central Bank and the FIU. The Cayman Islands: Since 28 February 2025 the beneficial ownership register is open only to persons with a legitimate interest, including journalists, at CI$75 an application.
Curaçao: A business investment from XCG 500,000 gives a three-year permit, from XCG 750,000 a five-year permit, and from XCG 1,500,000 an indefinite one. The Cayman Islands: The Certificate of Direct Investment requires at least CI$1,000,000 invested in a licensed business that generates employment.
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