{"id":32533,"date":"2024-03-21T11:04:30","date_gmt":"2024-03-21T15:04:30","guid":{"rendered":"https:\/\/ser.cw\/?p=32533"},"modified":"2024-03-21T11:12:11","modified_gmt":"2024-03-21T15:12:11","slug":"ser-provides-urgent-advice-for-the-implementation-ubo-register-in-curacao","status":"publish","type":"post","link":"https:\/\/ser.cw\/en\/2024\/03\/21\/ser-provides-urgent-advice-for-the-implementation-ubo-register-in-curacao\/","title":{"rendered":"SER provides urgent advice for the implementation UBO register in Cura\u00e7ao"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; fullwidth=&#8221;on&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_fullwidth_slider _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; saved_tabs=&#8221;all&#8221; global_colors_info=&#8221;{}&#8221; button_text_size__hover_enabled=&#8221;off&#8221; button_text_size__hover=&#8221;null&#8221; button_one_text_size__hover_enabled=&#8221;off&#8221; 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gutter_width=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Niet aanpassen&#8221; _builder_version=&#8221;4.23&#8243; background_color=&#8221;rgba(255,255,255,0.68)&#8221; custom_padding=&#8221;15px|30px|3px|30px&#8221; border_style=&#8221;solid&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Press release<\/h2>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; background_color=&#8221;#d1f0ff&#8221; custom_padding=&#8221;0px|0px|0px|0px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;2_3,1_3&#8243; use_custom_gutter=&#8221;on&#8221; gutter_width=&#8221;1&#8243; make_equal=&#8221;on&#8221; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.16&#8243; background_color=&#8221;#fcfeff&#8221; custom_padding=&#8221;30px|30px|30px|30px&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; border_style=&#8221;solid&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1><span style=\"color: #0000ff\">SER provides urgent advice for the implementation UBO register in Cura\u00e7ao<\/span><\/h1>\n<p>&nbsp;<\/p>\n<p>Willemstad, March 21, 2024 &#8211; At the request of Finance Minister Mr. Drs. Javier Silvania, the Social and Economic Council (SER) of Cura\u00e7ao yesterday issued an urgent advice on the draft of the national decree for implementing the UBO register in Cura\u00e7ao. This register, crucial in the fight against financial and economic crime, aims to increase transparency by identifying and registering Ultimate Beneficial Owners (UBOs) of legal entities and similar entities on the island.<\/p>\n<p>The advisory stems from a Council of Ministers decision last month, prompted partly by the upcoming review of the Caribbean Financial Action Task Force (CFATF) this June. The timing of this advisory is critical, given the urgent international requirements and the need for improved due diligence procedures in Cura\u00e7ao.<\/p>\n<p>The proposal focuses on facilitating competent authorities, such as the Public Prosecutor&#8217;s Office, the Central Bank of Cura\u00e7ao and Sint Maarten (CBCS), the Cura\u00e7ao Financial Intelligence Unit (FIU), and the Inspector of Taxes, to investigate money laundering and terrorist financing more effectively. The UBO Registry promises to lay a foundation for a safer and more transparent business environment, with a balanced approach to openness and privacy protection. The Chamber of Commerce and Industry (CoC) will be designated to manage the register, due to its existing infrastructure and expertise with the trade register.<\/p>\n<p>The implementation of the UBO register is driven by both national legal obligations and the urgent need to comply with FATF recommendations. The FATF, a leading intergovernmental organization in the fight against money laundering and terrorist financing, requires its member states, including the Kingdom of the Netherlands, to strictly adhere to its standards.<\/p>\n<p>Cura\u00e7ao, as a member of the CFATF, is committed to implementing these international standards. Regular reviews by the CFATF ensure the effectiveness and efficiency of the implemented system, where non-compliance can have significant consequences for national jurisdictions.<\/p>\n<\/p>\n<p>&nbsp;<\/p>\n<div>\n<p>&nbsp;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Add to any &#8211; niet aanpassen&#8221; _builder_version=&#8221;4.23&#8243; border_style=&#8221;solid&#8221; saved_tabs=&#8221;all&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<pre><code><div class=\"addtoany_shortcode\"><div class=\"a2a_kit a2a_kit_size_24 addtoany_list\" data-a2a-url=\"https:\/\/ser.cw\/en\/2024\/03\/21\/ser-provides-urgent-advice-for-the-implementation-ubo-register-in-curacao\/\" data-a2a-title=\"SER provides urgent advice for the implementation UBO register in Cura\u00e7ao\"><a class=\"a2a_dd addtoany_share_save addtoany_share\" href=\"https:\/\/www.addtoany.com\/share\"><img decoding=\"async\" src=\"https:\/\/ser.cw\/wp-content\/uploads\/sites\/280\/2017\/12\/share.png\" alt=\"Share\"><\/a><\/div><\/div><\/code><\/pre>\n<p>[\/et_pb_text][et_pb_post_nav in_same_term=&#8221;on&#8221; admin_label=&#8221;Post Navigation &#8211; niet aanpassen&#8221; _builder_version=&#8221;4.16&#8243; border_style=&#8221;solid&#8221; hide_prev=&#8221;off&#8221; hide_next=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_nav][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.16&#8243; background_color=&#8221;#f4fbff&#8221; custom_padding=&#8221;30px|30px|30px|30px&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_post_title title=&#8221;off&#8221; meta=&#8221;off&#8221; admin_label=&#8221;Post Title &#8211; niet aanpassen&#8221; _builder_version=&#8221;4.22.1&#8243; border_style=&#8221;solid&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_post_title][et_pb_text _builder_version=&#8221;4.23&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_text][et_pb_image title_text=&#8221;IMG_6475&#8243; align_tablet=&#8221;center&#8221; align_phone=&#8221;center&#8221; align_last_edited=&#8221;on|desktop&#8221; admin_label=&#8221;Extra afbeelding&#8221; _builder_version=&#8221;4.23&#8243; animation_style=&#8221;slide&#8221; animation_direction=&#8221;left&#8221; animation_duration=&#8221;500ms&#8221; animation_intensity_slide=&#8221;10%&#8221; border_style=&#8221;solid&#8221; sticky=&#8221;off&#8221; always_center_on_mobile=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.23&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_text][et_pb_image title_text=&#8221;IMG_6480&#8243; align_tablet=&#8221;center&#8221; align_phone=&#8221;center&#8221; align_last_edited=&#8221;on|desktop&#8221; admin_label=&#8221;Extra afbeelding&#8221; _builder_version=&#8221;4.23&#8243; animation_style=&#8221;slide&#8221; animation_direction=&#8221;left&#8221; animation_duration=&#8221;500ms&#8221; animation_intensity_slide=&#8221;10%&#8221; border_style=&#8221;solid&#8221; sticky=&#8221;off&#8221; always_center_on_mobile=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.23&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Willemstad, March 21, 2024 &#8211; At the request of Finance Minister Mr. Drs. Javier Silvania, the Social and Economic Council (SER) of Cura\u00e7ao yesterday issued an urgent advice on the draft of the national decree for implementing the UBO register in Cura\u00e7ao<\/p>\n","protected":false},"author":111,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","_links_to":"","_links_to_type":0,"wds_primary_category":0,"footnotes":""},"categories":[398],"tags":[],"class_list":["post-32533","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SER provides urgent advice for the implementation UBO register in Cura\u00e7ao - Sociaal Economische Raad Cura\u00e7ao<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ser.cw\/en\/2024\/03\/21\/ser-provides-urgent-advice-for-the-implementation-ubo-register-in-curacao\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SER provides urgent advice for the implementation UBO register in Cura\u00e7ao - Sociaal Economische Raad Cura\u00e7ao\" \/>\n<meta property=\"og:description\" content=\"Willemstad, March 21, 2024 - At the request of Finance Minister Mr. Drs. 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