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Curaçao: Labour Regulation |
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CURAÇAO INFORMATION: BUSINESS, TAXATION AND OFFSHORE |
On
this Page:
- CURAÇAO
REGULATORY ENVIRONMENT
- CURAÇAO WORK
PERMITS
NB:
The Netherlands Antilles as such ceased to exist
in October 2010. This page deals with Curacao,
the largest component of the jurisdiction, which
has taken its place in many respects.
Curaçao
Regulatory Environment
As part of the
EU, the islands are subject to the full panoply
of Netherlands labour regulation, which is seen
as inappropriate in many circumstances.
There are compulsory
social security schemes covering sickness and
old age pensions as follows:
- The Government
introduced the national 'AVBZ' health care
scheme in 1997; employees contribute 1.5%
of taxable pay with a maximum of US$4,295
annually; employers contribute 0.5% of taxable
pay with a maximum of US$1,015 annually.
- Pensions are
financed through employee contributions of
6.5% of gross wages to a maximum pay of US$45,133;
the employer pays 7.5% to the same maximum.
- Accident insurance
contributions range from 0.5% to 5% depending
on employment up to a maximum of US$4,295
annually.
Generally
speaking, non-residents are subject to social
security taxes.
There
are statutory minimum wages in Curaçao
of ANG1,304 (at the time of writing) for all
workers aged 21 and over relating to a standard
5-day 40 hour week. 16 and 17 year olds are
entitled to 65% of the minimum wage, 18 and
19 year-olds receive 75% and 85% respectively,
while those aged 20 are entitled to 90%.
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Other
than for Dutch passport holders, or long-term
residents (more than 10 years), employees working
in Curacao require residence and work permits.
Residence permits have to be applied for in person
at the Governor's offices; a good deal of personal,
medical and financial information and documentation
is required.
Work
permits have to be applied for by employers, after
advertising a position in local newspapers and
failing to fill it.
Residence
permits will be granted for the employees' family
on application. An employees' spouse is generally
not permitted to work in Curaçao.
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