Netherlands Antilles: Living There - Tax Issues
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Last Updated: Jul 31, 2006
Living There
Resident individuals are taxed on their worldwide income from a business or profession, employment, property, capital, and certain periodic receipts. The tax rates are progressive, depending on the taxable income. The same rates apply to residents and non-residents alike.
The Government of the Netherlands Antilles has legislated immigration incentives to promote the Islands as a retirement haven. The penshionado (pensioner) regulations provide low tax rates for non-resident individuals who comply with the following conditions:
- Must be taxpayers in their country of residence
- Must have lived out of the country for 60 months prior to application
- Should be 50 years of age upon application
- Able to report to the tax inspector two months after registering
- Own a house in the Islands for their personal use worth ANG450,000 (US$252,808.99) within 18 months of registration
- Do not receive income from sources within the Islands
If the above conditions are satisfied, one may choose between two options.
- Income from all foreign sources will be taxed at a flat rate of 10%.
- Declare fixed income of ANG500,000 (US$280,899) and pay the tax at ANG275,000 (US$154,494) , which includes contributions under the Old-Age Pension (AOV), Widows’ or Widowers’ Benefits (AWW), and Special Medical Expenses Insurance (AVBZ). It is recommended that options are weighed well since it is not easy to shift from one mode to another, and it is sometimes not permitted. Even if not eligible for the pensioner’s regulations mentioned above, one may still apply for residency in the Netherlands Antilles, albeit under different taxation policies.
Netherlands Antilles - more data and information
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Your Comments
posted by Arne Kattouw | 2007-08-21
Tax advisor, Cura?ao
It is not forbidden to receive income from sources within the island. It is only that the pensioners regulation (the low tax rate) does not apply to local income. It is however not allowed to get a job locally, unless you are employed by your own company (the company you are the shareholder of)
posted by Arne Kattouw | 2007-08-21
Tax advisor, Cura?ao
I would not say the abolishment of the federation a negative. It is just that the double layer of government is abolished. The islands all remain within the Kingdom of the Netherlands, the legal system remains the same, defence and foreign affairs remain in the hands of the Netherlands and so on. So the only real difference is that after the federation has been abolished, the Netherlands has direct ties with each island instead of by way of the federal government. And if all goes according to plan, the Netherlands will help financially, so the budget deficit will most likely be reduced substantially which gives opportunity for economic growth.