Tucked away in the Caribbean, tiny Aruba cleverly exploits its Dutch affiliations and currency stability to host over 11,000 offshore enterprises attracted by minimal red tape and tax perks legally! Having crafted agreements allowing global businesses to incorporate or park assets here since the 1980s, Aruba today rakes in almost $175 million yearly upholding financial privacy in operations from insurance to maritime registration.
Yet with the EU, OECD and other global tax bodies pressuring crackdowns on opaque banking and loose regulations post multiple leaks scandals in recent years, microscopic Aruba faces mammoth challenges keeping its compliance rulebook relevant. Adopting digitized customer verification, reporting mechanisms and prosecutor capabilities enhancement are upcoming priorities for Aruba to signal commitment towards transparency and integrity going forth.
This is where trusted advisors like consulting firm RFC step in! Given our multifaceted experience assisting financial jurisdictions across Europe and the Caribbean tweak regulatory frameworks balancing continuity and controls, RFC can readily guide Aruba’s reforms upholding strengths. Our customized advisory solutions focus on governance approvals, reporting procedures and personnel capability upgrades so that Aruba keeps welcoming global capital flows upholding the highest compliance standards for many more decades ahead!