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CURACAO | Money Transfer Companies

Pursuant to the National Ordinance on the Supervision of Money Transfer Companies the business of money transfer  company is subject to a license issued by the Central Bank. However, such license is not required for credit institutions that already possess a license under the National Ordinance on the Supervision of Banking and Credit Institutions.  In order to be considered for a license to operate as a money transfer company in Curacao, the applicant must comply with certain requirements set by the Central Bank, which are laid down in the aforementioned National Ordinance as well as in policies of the Central Bank. Furthermore, once the license has been granted, the money transfer  company needs to continuously comply with the directives and guidelines issued by the Central Bank.