Published On: Fri, Jul 25th, 2014

Introduction Segregated Trust Company

TrustWILLEMSTAD - Last month, the Central Bank of Curaçao and Sint Maarten (CBCS) introduced a policy document which describes the application procedure of the Segregated Trust Company.

With this policy, the international financial sector, can offer a new product internationally. This new product is particularly interesting for the fund industry and the insurance industry.

In 2012, the Ordinance Trust entered into force and this is when Trust was introduced in Curaçao. One of the possibilities that the Curacao Trust provides is that separate capital or cells within one legal entity.

The separate capital or cells within the legal entity or Segregated Trust Company is formed by the creation of two or more Curaçao Trusts within the Segregated Trust Company.

The policy of the CBCS describes the application procedure to obtain an exemption, so that the Segregated Trust Company can become the trustee of two or more Curaçao Trusts within this entity.

The introduction of this policy is a good example of a successful public-private partnership. The Curaçao International Financial Association (CIFA) wants to express its gratitude to the CBCS and CIFA members who have dedicated themselves to the implementation of the policy and thus the Segregated Trust Company.

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