Creation of Stichting Uniek Curacao (Foundation Uniek Curacao)

Stichting Uniek Curacao (Foundation Uniek Curacao) was created in 1991 as a non for profit organization. The governmental run Curacao Tourism and Development Bureau initiated the Tourism Awareness Program project which culminated in a multimedia presentation entitled Uniek Curacao. The conclusion of the presentations showed that 9% of Curacao attractions were unknown to the island inhabitants and tourism industry and therefore were very unlikely to be advertised to the islands visitors. The impact this study had upon members of the community, tourism industry and local ecologists was considerable. A workgroup was then formed, also carrying the name Uniek Curacao, consisting of the project’s core members and hosts of the tourism industry.

Structure of Uniek Curacao

From its beginnings the foundation Uniek Curacao has grown into an organization that includes directors, full-time and part-time employees and hosts interns every year.  It occupies a building directly on the harbour side at Otrabanda. Uniek Curacao has recently broadened its focus from promoting the island’s Eco treasures to tourists to one of making the same activities available to the entire Curacao community.

Mission of Uniek Curacao

The organization’s goal is to maintain and improve the physical and social environment of the island and secure the livability of Curacao for both locals and visitors. Uniek Curacao’s mission is to promote the island of Curacao in the most ecological and sustainable way. Stichting Uniek Curacao sees eco tourism as a responsible way to showcase the island’s culture, history and nature in the best possible way. The foundation motto is “konose bo isla”, which translates from the local language of papiamentu into “know your island”. Uniek Curacao also acts as a resource center for many local associations. Island authorities, local trainees, students, and the unemployed can make good use of Uniek Curacao’s considerable archives and resources. The organization’s materials are available at no cost to people who are involved in any aspect of the responsible promotion of the island’s ecology or culture.

Involvement with Curacao Actief

In 2004 Foundation Uniek Curacao was one of the founding partners of Curacao Actief. Curacao Actief has for mission to improve the marketing abroad of Curacao’s hidden treasures. Curacao-Actief advertises itself as one of the Caribbean’s top friendly adventure tour operators. Their tours includes eco jeep tours, island tours, snorkel tours  and beach tours.

Contact information for Uniek Curacao

Contact information for Curacao Actief

History

Maduro’s Bank was the first commercial bank to establish in the Netherlands Antilles, opening its doors on January 2, 1917 in the capital city of Curaçao, Willemstad. The establishment of the Shell Oil Refinery on the shores of the island’s great natural harbor, combined with the opening of the Panama Canal, made Willemstad a busy port on the world shipping routes. The resulting business expansion made then existing banking methods obsolete, for at that time financial transactions were handled by merchants and exchange houses.

Realizing the need for improved banking facilities, the founder, Mr. Joseph Alvarez Correa, fondly known as Shon Jojo, in association with the well-known trading company S.E.L. Maduro & Sons NV, opened the doors of Maduro’s Bank with an initial capital of ANG 1,000,000.- (the Netherlands Antilles guilder now equals approximately US$ 0.56). In 1932 Maduro’s Bank merged with Curiel’s Bank and Maduro & Curiel’s Bank was born.

Since 1970, MCB has been associated with The Bank of Nova Scotia of Toronto, Canada.

With 31 branches on Curaçao, Aruba, Bonaire, St. Maarten and St. Eustatius, MCB is the largest commercial bank in the Dutch Caribbean. Through the past eight decades, Maduro & CUriel’s Bank has also grown in many areas of non-banking financial services including insurance brokerage, underwriting and loss adjustment, in portfolio management and investment services, private banking, and in offshore trust and corporate management services.

Bankomatiko and credit cards

Using the Bankomatiko ATM is a fast, easy, and efficient way to do many banking transactions. Withdraw up to NAfl 1800,- or equivalent in USD in cash per day from current or savings accounts with a maximum of Naf. 1000,- per withdrawal. Request a checkbook, transfer money from one account to another, make deposits, pay utility bills, or simply make a balance inquiry. Request a mini-statement of the last ten transactions on your account.

Access cash withdrawal services by using the MCB Group’s Bankomatiko card or by using VISA, MasterCard and Kompa Leon credit cards or any card with a Cirrus, Maestro or Plus logo.

Bankomatiko/Maestro is the first on-line, international debit card in the Caribbean. The Bankomatiko card is a debit card. Use the Bankomatiko card in all establishments worldwide that have the Maestro logo. It can be used locally in many supermarkets, pharmacies, gas stations, and restaurants.

Bankomatiko ATMs are located throughout the Netherlands Antilles, Aruba, and around the world. With the Bankomatiko card, withdraw cash from more then 350,000 ATMs in 68 countries that bear the Cirrus and/or Maestro logo including more than 100 in the Netherlands Antilles and Aruba. Visit www.mastercard.com for Cirrus/Maestro ATM sites around the world.

Other credit cards available are:

Kompa Leon Efektivo

which can be used for every day purchases and payments and is safer than paying with cash. Kompa Leon Efektivo is accepted at over 4000 merchants and at all PAGOmatiko terminals in the Netherlands Antilles and Aruba.

Maduro & Curiel’s Bank AAdvantage Visa Card

earns 1 mile for every US$ spent on purchases. It is accepted worldwide at more than 21million locations worldwide, including Netherlands Antilles & Aruba.

Maduro & Curiel’s Bank AAdvantage Kompa Leon Card

earns 1 mile for every NAf. 2,- spent on purchases. It is accepted at merchants in Curaçao, Bonaire and St. Maarten.

MCB American Express Card

with dual Currency Purchases. Purchase in NAf at MCB-groups merchants in the Netherlands Antilles and in US$ outside the Netherlands Antilles. Pay in NAf for purchases in NAf and US$ for US$ purchases.

MCB MasterCard

is accepted in more than 30 million establishments worldwide. Cash advances from Bankomatikos and over 900.000 Automated Teller Machines worldwide and all participating banks displaying the MasterCard logo.

Visa Classic Card

is accepted in over 150 countries and 20 million establishments worldwide. Cash advances from Bankomatikos and over 800.000 Automated Teller Machines worldwide and all participating banks displaying the VISA/ or PLUS logo. Includes a Travel Accident Insurance Coverage of US$ 75.000.

Main Offices

Curaçao
Maduro & Curiel’s Bank NV

Aruba
Caribbean Mercantile Bank NV

Bonaire
Maduro & Curiel’s Bank (Bonaire) NV

St. Maarten
The Windward Islands Bank NV

St. Eustatius
Windward Islands Bank Ltd.

Location

Curaçao one of the Netherlands Antilles islands ,lies 33 miles north of Venezuela and 42 miles east of Aruba, outside of the usual hurricane belt. It is therefore favorably located at the crossroads of Caribbean trade routes and for investors seeking the U.S., Canadian, European and Latin American markets.

Political Climate

The Netherlands Antilles and Aruba form part of the Kingdom of the Netherlands. Since January 1, 1986 Aruba has been a separate country within the Kingdom of the Netherlands. Curaçao has been an autonomous part within the Dutch Kingdom since 1954, has it?s own legal system and court cases can be appealed in the Supreme Court of the Netherlands. Curaçao takes care of its own domestic affairs, common interests such as defense and foreign affairs come under the jurisdiction of the Kingdom government. Curaçao is recognized in the international financial community as a politically stable, safe and competitive jurisdiction for Captive insurance companies.

Infrastructure

The economy of Curaçao is mainly based on tourism, oil refining and international financial services. It has a vast network of banks, trust and investment companies, lawyers, notaries public, accountants, management companies etc. Telephone, telefax and other communication tools are state of the art. Curaçao is easy to reach by air and regular services are maintained from the U.S. and Europe.

Through the BRK (Belasting Regeling Koninkrijk), the tax arrangement of the Kingdom of the Netherlands a Netherlands Antilles company has access to the extensive tax treaties network of the Netherlands. The Netherlands Antilles and Curaçao in particular have therefore over the years developed into a reputable financial center for the offshore world.

Currency

The local currency is the Netherlands Antillean Guilder (NAF) which is pegged to the US dollar. Since 1973, the exchange rate has remained fixed at Naf. 1,79. to US$ 1.00, evidencing a stable monetary environment.

The rates of other currencies are based on their rate of exchange to the U.S.dollar.

Language

The official language is Dutch, however most of Curaçao diverse population of approx. 160.000,00 is quadrillingual speaking Dutch, English and Spanish as well as the native language Papiamento.

Legal Status

A company engaged in the insurance business in the Netherlands Antilles must have the legal status of either a limited liability company, called Naamloze Vennootschap (N.V.), or a mutual insurance company.

The Central Bank (Bank van de Nederlandse Antillen)

The Central Bank is the official supervisor of the Antillean banking system and financial institutions. The Bank was established in 1828 by King William I and is the oldest Central Bank in the Americas.
The Bank’s most important objectives are to maintain the external stability of the Netherlands Antillean Guilder and to promote the proper functioning of the financial system in the Netherlands Antilles.

Insurance Supervision

The Insurance Supervision Act (National Gazette 1990, no.77) regulates the supervision of the insurance industry in the Netherlands Antilles. Captive Insurance Companies and Reinsurance Companies are regulated by separate decree. Supervision is executed by the Central Bank.

Cost of Operation

Generally speaking, the following may be used as a rule of thumb (subject to changes):

Cost of incorporation:

-notary fee, stamp duty, license, registration, Chamber of Commerce US $ 5.400 to US $ 8.600

Cost of operation:

-supervision, audit etc. US $ 4.500 to US $ 7.300
-management services US $ 3.500 to US $ 50.000

Principle

A captive insurance company is typically defined as a wholly owned subsidiary of a non-insurance related group of companies established with the prime purpose of insuring the group’s risks. There are two main types of captives: single parent or group, the latter typically owned by a number of companies with similar exposures. Captives can be used to provide coverage either directly or as reinsurance of a fronting insurer.

Rationale of a Captive

Traditional insurance is not always the most economical method of financing a group’s risks. When the risk profile is favorable or when losses can be calculated or forecasted in advance, risk retention or self insurance may be more advantageous.

Captives can be very beneficial; the most important advantages being :

• savings in insurance premiums spent underwriting
• profit retained within the group interest on premiums retained in the group
• cheaper overhead than those hidden in market premiums
• direct access to the more flexible reinsurance markets
• focus on risk management tax considerations

Prerequisites for captive formation

A captive is a risk financing instrument, however, which can only be used when the following requirements can be fulfilled :

• sufficient spread of risk
• sufficient premium volume
• favorable claims records (or at least calculable)

A captive will also need capitalization and will incur management expenses.

Feasibility Study

The establishment of a captive insurance company requires careful consideration and the decision should only be taken after an in-depth feasibility study, which should preferably consider at least 3 main elements

1. Insurance Considerations

It should be remembered at all times that captive insurance is regarded as one of the more sophisticated forms of risk financing but basically it remains self insurance.
Before deciding on the establishment of a captive a profound analysis of the group’s risks, claims record, risk management and risk bearing capacity should be made.
A typical feasibility study will at least comment on:

• the current insurance program
• claims statistics over a period as long as possible
• risk bearing capacity of the group related to turnover, profit and liquidity
• alternative risk financing systems
• reinsurance protection for the captive
• claims forecasting on basis of mathematical models

2. Domicile

At least it should also be considered to establish the captive in the home country of the group, but very often local requirements of supervision by authorities, fiscal aspects and lack of professional management, direct the captive to a specialized captive domicile.

3. Management Services

Professional management of the captive is of the utmost importance and the (future) captive owner should satisfy himself that he is acquiring the best services available that provide not only the required insurance substance and administrative organization but also a good working relationship with the relevant supervision- and other authorities.

For more information, visit MCB website on risk management.

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Website

Address

Email

Telephone

Rates

Daily rate

US$ 37 per day

Long term rates

Weekly rate is US$ 199 Monthly rate is US$ 695

Cars

Type of car

Hyundai Getz Small sedan 5 doors Automatic

Cars in the fleet

10 cars

Insurance

All risk insurance included in all rentals

Requirements

Minimum age to rent a car

24 years old

Credit card

Only required when reserving a car by email

Extras

Airport or hotel pickups and drop-off

Available for an extra US$ 20

Child seats

Child seats are available for all ages

Extensions and early returns

Extension on rental

Extensions are charged for the extra rental days

Early return

No charge for unused days unless the price was based on longer lease (in this scenario the normal fee applies without the discount for a longer lease).

Vouchers

10% discount vouchers are available in our cars. Simply write your name and signature on the voucher and offer these vouchers to any tourist. When a tourist presents your voucher for a BlueSkies helicopter sightseeing flight, you receive a 10% commission based on the price of the helicopter tour (prices are available on our website). For example: For every 30 minute flight we deduct US$ 60 from your bill. Hence, four sold flights is equivalent to a fee of a whole week’s car rental. If your commission is higher than the car rental, the difference will be paid in cash.

BlueSkies 10% Voucher

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Girobank was established in 1965. Girobank offers a variety of banking and financial services through their website or at a commercial branch. Girobank can meet the demands of both residents and international customers. Services available include current and saving accounts, electronic transfers, time deposits, commercial banking, loans and hypotheek. Information can be obtained investing in Curacao through equity trust, trust management and private foundation. Cirrus, Maestro and Visa card services are also available.

Extract of Girobank Director’s report

“In 2008, rather than further growth, Girobank’s aim was particularly directed to improve efficiency and increase our profit, strengthen our organizational structure and train our employees in important areas such as Risk and Compliance. As a result, our bank was able to control its cost and close the year 2008 with a net profit of almost ANG 11 million, which represents an increase of 54% as compared to 2007, when we made a profit of ANG 7.2 million. Our total assets grew by 11% from ANG 1.2 billion last year to ANG 1.3 billion in 2008. There was also a growth in our shareholders’ equity of 15%, from ANG 79 million in 2007 to ANG 90.8 million in 2008. Loans to customers have increased as well, from ANG 339.51 million to ANG 401.9 million which represents a growth of 18%.” (Eric Garcia & Manuel Suena May 2009)

Girobank interest accounts

Girobank Super saving account offers an annual interest rate of 3.25% with no administration or statement fees and a maximum of 4 debit transactions a month for free. Minimum initial deposit of ANG 25.

CD Call is an interest bearing current account in US dollars or Euros. The interest rate varies depending on the account balance. The interest rates applicable on a Personal CD Call account in Euros vary from 0.75% to 1% on a yearly basis. The interest rates applicable on a Business CD Call accounts in Euros vary from 0.50% to 0.75% on a yearly basis. Interest rates are calculated as from EUR/USD 100,000.

Girobank Interest Bearing Checking Account (IBCA) for businesses offers 0.375% interest on balance over ANG 25,000 and up to ANG 100,000, and 0.75% interest on balance over ANG 100,000. Interest is calculated on a daily basis and credited to the account at the end of each month.

Girobank services and contact information

General

ATM services

Payment Services

International Relations

Customer Service Department

Commercial Loans

Consumer Loans

Small Business Loans

PR & Marketing Department

Human Resource Department

Girobank branches location (address and phone number)

Scharloo branch

Janwe branch

Sta. Maria branch

Colon branch

Zuikertuin branch

Girobank International N.V.

Bonaire branch

Girobank ATM location (address)

Girobank Dokterstuin

Giro Curacao Colon

Giro Curacao Marshe

Giro Curacao Santa Rosa

Girobank website: www.girobank.net

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Island weather in Curacao today

The average daytime temperature in Curacao is 32 degrees Celsius or 89 degrees Fahrenheit.

Caribbean weather forecast for Curacao

Curacao weather forecast in Fahrenheit

The sea temperature averages 27 degrees Celsius or 80 degrees Fahrenheit for ideal diving conditions.

Wind forecast for fishing, sailing, windsurfing and surfing

Tropical climate throughout the year

It is no surprise that the weather in Curacao is perfect beach weather. What may be surprising are the seasonal changes across the year. If you ask the locals, you will discover that the hottest season is from August until October after which some occasional rains announce the rainy season. The temperature will only fluctuate a few degrees but the relief will be great as the island prepares itself for Carnival when the weather is traditionally flawless. After the traditional festivities of Carnival, kites fly high during the windy season. This also coincides with excellent surfing weather of course. The dry season takes its toll on the vegetation from April onto the summer months.

However it is essential to understand that all these fluctuations are minimal and will probably go unnoticed to the unique visitor. No matter when you come, the island is always basked in a perfect paradise weather. A special mention goes to sailors and windsurfers as the constant north-east winds turn the south-western bays into fantastic playgrounds for the temerous minds.