How do countries in the Caribbean and Central America measure up to expectations of tenants? A study commissioned by Curinde in 2015 aimed to gain insight into what tenants of Free (Economic) Zones look for and what the key drivers are in their choice for a location.
To this end, a quantitative survey was done among tenants already established in several zones in the region. Interviews with the management of the various zones and with leaders in different areas of influence in business in the area also yielded valuable information. The probes included both country and zone value drivers.
This is what tenants consider crucial to establishing a business in a new location.
Findings show that tenants consider it crucial that the country and its Free (Economic) Zones offer:
- Frequent direct flights to and from key markets;
- A legal system that protects their rights;
- Numerous bilateral trade agreements;
- A high quality of life;
- A banking system close to the zone;
- Reliable power and safe water supply;
- High-speed Internet.
While these were mentioned as most crucial and desirable, there are also other attributes considered material to a company’s decision to establish in a particular country, such as a multi-lingual workforce, anti-counterfeit laws and expedite time to open a business. Tenants also expect Customs to be close to the zone, low taxes, respect for intellectual property, low fees and good roads. In several cases, tenants even indicated that a further decrease in taxes and operating costs, improvement of the infrastructure and more support in marketing would be a great help.
How does Curaçao measure up? Here are some facts:
- Curaçao has frequent connections to major destinations in the region.
- As part of the Dutch Kingdom, Curaçao offers a legal system that protects your rights and provides you with ample possibilities to defend them.
- Curaçao offers entry into US and the European Union under favorable conditions.
- Curaçao has a long-standing and renowned tradition of banking and international financial services.
- A robust infrastructure to provide renewable and durable energy (with no less than 20% generated by wind power) is currently being built, while also upholding the reputation of having one of the world’s cleanest and safest fresh water supplies, distilled from seawater.
- Thanks to the various submarine telecommunication cables connecting the island, Curaçao boasts a tier IV datacenter, sustaining the high quality of fast Internet service available on the island.
- But it’s the quality of life, the sophisticated and cosmopolitan Caribbean ambiance and the diversity of cultures living in harmony on 444 km² that truly make Curaçao, besides a perfect destination to do business, also an excellent place to call home.
The Curaçao Free (Economic) Zones offer you the ease of establishing swiftly. Be it at the economic zone at the seaport or the zone at the airport, all the basics are already there for you to start doing business:
- Turnkey facilities are in place to hit the ground running;
- Security is in accordance with international standards;
- There is a Customs Office inside the zone;
- Anti-counterfeit laws are strictly enforced;
- Banking services are present in the zone;
- Top-quality infrastructure is in place;
- And the qualified staff at Curinde is ready to assist you with all your needs and objectives.