WILLEMSTAD – The Curaçao International Financial Association (CIFA) has presented a new legislative proposal introducing a special type of corporate structure aimed at enhancing the island’s financial sector.
The proposal centers on the creation of a “segregated assets company,” known as a VAV (Vennootschap met Afgescheiden Vermogens). The draft legislation was submitted last week to Minister of Finance Charles Cooper and the director of fiscal affairs.
The proposed structure would allow multiple, legally separated asset pools to exist within a single company. This means that the assets and liabilities of each segment would be isolated from one another, providing greater protection and flexibility for investors and businesses.
According to CIFA, the introduction of the VAV is an important step in further developing Curaçao’s financial services industry. The structure could be used for a range of activities, including investment management, lending, and the administration of intellectual property rights.
Similar legal frameworks already exist in international financial centers such as Malta and Singapore. By adopting the VAV model, Curaçao aims to strengthen its position as a competitive international financial hub.
The draft law is currently under review and will be subject to further discussion before any formal adoption.