Curaçao is one of the Overseas Countries and Territories (OCT) and as such has preferential access to the European Union. Products manufactured in Curaçao obtain preferential duties when imported into the EU. Goods to be transported to the EU, however, should have the ‘Curaçao origin’ specified.
Curaçao is also included in the Caribbean Basin Initiative (CBI). Goods that are manufactured in Curaçao can be imported duty-free into the U.S., provided that there is 35% value added in Curaçao (including 15% for U.S. components) and the product has undergone ‘substantial transformation’. Several industries have been established both by local and foreign investors that are successfully producing for the export as well as the domestic markets.
Attractive tax incentives are available to manufacturing companies that engage in export oriented industries and want to locate in the Industrial Park. The fully serviced industrial park is located only 15 minutes from Willemstad, the harbor, and the international airport. Industrial sites can be obtained on long leases, and multipurpose industrial buildings are available for rent at competitive rates. Examples of (foreign) industrial operations located in Curaçao include pharmaceutical products, plastics, and electronic devices.
