Legal and Institutional Framework
The judicial system forms an integral part of the legal system of the Kingdom of the Netherlands. Judges appointed by the Dutch King serve the District Court and the Joint Court of Appeals, which serves all six Dutch Caribbean islands and hears civil cases as well as criminal cases. The Charter for the Kingdom of the Netherlands, the leading legal document within the Kingdom, forms the basis for the possibility to appeal to the Supreme Court in the Netherlands. The Charter is an assurance for good governance and the preservation of human rights. Numerous offices of renowned law firms have been established in Curaçao and assure a high level of legal services for advice, setting up your business and in court proceedings. Curaçao has an independent and high-quality legal system which is based on the Dutch civil law system. Although the legal system of Curaçao is based on civil law, it also provides possibilities for common law structures like the Curaçao Trust.
Curaçao has a well-developed banking system that plays a vital role in both local and international businesses on the island. Most of these banks have international links, while branches of well-known European and American banks are established in Curaçao. The highest degree of compliance with the regulatory standards. The financial services sector has been active in the support of legal and practical
actions to prevent the banking system from being used for funds of criminal origin and has adopted the Statement of Principles, recommendations made by the International Committee on Banking Regulations and Supervisory Practices (The Basel Committee).
Curaçao and St. Maarten together have one Central Bank and one currency, the (former) Netherlands Antillean guilder. The Central Bank of Curaçao and St. Maarten (formerly the Central Bank of the Netherlands Antilles, hereafter: Central Bank) was established in 1828. The Central Bank is responsible for control and regulation of the banking and insurance businesses and trust service providers on the island. One of the most important objectives of the Central Bank is to maintain the external stability of the Antillean guilder and to take care of the efficient functioning of the financial system of the island.