Since June 2024, a new compliance requirement has come into force in Curaçao: legal entities must register their Ultimate Beneficial Owners (“UBO”) in the national UBO-register. The deadline is rapidly approaching; entities must ensure that they are fully compliant before July 1, 2025.
What is the UBO-register?
The UBO-register contains information regarding the natural person who ultimately exercises ownership or control over a company or other legal structure. The register is part of a broader effort by the government to improve transparency and to combat financial crimes such as money laundering, tax evasion, and the financing of terrorism. Importantly, the register is not accessible to the public. Only designated authorities including the Tax Inspectorate, the Central Bank of Curaçao and Sint Maarten, and the Public Prosecutor’s Office are authorized to access its contents.
Who must register?
The registration obligation applies to almost all legal entities operating in Curaçao. That includes public and private limited liability companies, foundations, private foundation entities, associations, trusts, and similar legal arrangements. For newly established entities, the registration is handled by a notary at the time of incorporation. However, for entities that were already in existence when the rule was introduced, a transition period of twelve months was granted, ending on July 1, 2025. The Ministry of Finance has emphasized that the Tax Inspectorate will strictly enforce compliance. Failure to register on time or submitting incorrect information may result in fines of up to XCG 25,000.
How to register?
The Chamber of Commerce of Curaçao launched an online UBO-portal on May 27, 2025. All registrations must be submitted exclusively through this digital platform. The previous method, which allowed entities to submit UBO information via ubo@curacao-chamber.cw, is no longer accepted. That email address now functions solely as a helpdesk for questions related to the registration process.
What to consider now?
Confirm whether your entity falls under the registration requirement. Collect the necessary documents and timely submit your registration via the online portal. With this, a penalty can be avoided.
If you wish to receive more information about the registration process, you’re welcome to contact us at info@rootz.tax.
June 2025
