Aruba wiki information
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
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.
P.O. Box 493
Caya G.F. Betico Croes 53
P.O. Box 28
Credit Company N.V.
L.G. Smith Boulevard 116
P.O. Box 601
J.E. Irausquin Blvd. 8
First National Bank of
Caya C.F. Betico Croes 67
P.O. Box 184
Caya G.F. Betico Croes 38
L.G. Smith Boulevard 62
Caya G.F. Betico Croes 89
P.O. Box 391
L.G. Smith Boulevard z/n
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
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
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
The Bank will decide on the application within thirteen weeks of the
date of receipt of the application or any subsequent information that is
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
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
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
The financial report is a report to the effect other than that the
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:
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History of Offshore Bank Accounts.
What is an offshore bank? -
Offshore Banking Myths -
What is bank account?
Who can legally open and hold an offshore account?
Where should an offshore account be established? -
Who can benefit by putting their money offshore? -
Is it convenient to use offshore banks? -
What are some of the general advantages of banking offshore?
Do I have to pay income tax on income I've earned offshore?
How do I open and access an offshore bank account?
Is there any restrictions regarding citizenship? -
In which currencies can I open offshore account? -
What is the minimum deposit required to open an offshore
What documents are required for the opening of a bank
How long does it take to open a bank account? - Who will control my bank account?
Is my bank account guaranteed when I pay your fee? -
What happens, if a bank declines my account application?
Is offshore banking safe?
Am I guaranteed absolute privacy and confidentiality from an
offshore bank? -
Can I view my offshore accounts and investments online? -
Can I get cards to access my money with an offshore account?
What is saving account?
What is deposit account? -
What is current account? -
What is numbered account? -
What is bank secrecy? -
What is private banking?
ALPHA A -
ALPHA EQUATION -
DEPOSITARY RECEIPTS -
AMERICAN STOCK EXCHANGE (AMEX) -
AMERICAN-STYLE OPTION -
ANNUAL REPORT -
- ARMS INDEX -
AT THE MONEY -
AVERAGE MATURITY -
BACK OFFICE -
BANKER'S ACCEPTANCE -
BASIS POINTS -
BEAR RAID -
BETA (STOCKS) -
BETA EQUATION (STOCKS)
BETA (MUTUAL FUNDS) -
BETA EQUATION (MUTUAL FUNDS) -
BLOW-OFF TOP - BREAKOUT -
BULL MARKET - BUYOUT
CALL OPTION -
CAPITAL EXPENDITURES -
CAPITAL GAIN -
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