Recently, the CdC of Aruba, Curaçao and Sint Maarten met each other in Curaçao and the meeting was fruitful. The Chambers wish to work together in order to advance economic growth in their respective countries.
The organizations deliberated on various topics, including fiscal reform, the country packages agreed with the Netherlands, the debt to the Netherlands, digitalization, UBO registry, and the reopening of the border with Venezuela.
Aruba and Curaçao’s CdC wish to have the border with Venezuela reopen and already met with the CdC of Venezuela and with Fedecamaras to this purpose. Opening the border benefits both islands because it will result in the import of products with a more economical price, seeing how the cost of transport will be much less. The organizations will continue putting emphasis on this.
There was also a lot of interest from Curaçao and Sint Maarten for the digitalization system used by Aruba for its registers.A ruba is the only island using a digital platform. Aruba will exchange information with the other two islands on the process and benefits of digitalization.
Currently, Aruba is the only island with the legal obligation to establish a UBO register (Ultimate Beneficiary Owner). This obligation will result in a lot of work for CdC Aruba, but also more obligations and work for each company that must register and update their data in the UBO register.
Regarding fiscal reform, each island has different fiscal laws. There isn’t a lot of information available regarding the changes that are coming, and the CdCs have not received a concept of law of fiscal reform either.
The Chambers are very glad that they were able to meet in order to discuss various topics of common interest, and they agreed to come together once more in order to detail advice, information and action regarding the various topics.