Aruba History, Culture, and Economy
Aruba is an island nation in the Caribbean Sea, about 18 miles north of the coast of Venezuela in South America. It is a ‘constituent country’ of the Netherlands and all its citizens are Dutch nationals. The Dutch seized it from Spain in 1636, as part of the Thirty Years War.
Aruba has one of the highest standards of living in the Caribbean region and its economy is dominated by four main industries: tourism, aloe export, petroleum refining, and offshore banking. Tourism and related industries, however, comprise the vast majority of their gross national product. Their currency, the florin, is pegged to the dollar and due to the large number of tourists from the USA, many of their businesses in the resort and tourism sector operate using the USD as their currency.
The official languages are Dutch and Papiamento and the dominant religion is Roman Catholicism. Their culture, while global and varied, is still influenced to a large degree by the Dutch.
|March 18||National Anthem and Flag Day|
|April 2||Good Friday|
|April 5||Easter Monday|
|April 27||King’s Day|
|May 1||Labor Day|
|May 13||Ascension Day|
|December 25||Christmas Day|
|December 26||Boxing Day|
- Limited Liability
- Corporate Tax: 25%
- Income Tax (Lowest Marginal Rate): 7%
- Income Tax (Highest Marginal Rate): 58.95%
- VAT/GST/Sales Tax: 1.5% (turnover tax)
- AIB BANK NV
- ARUBA BANK, LTD
- BANCO DI CARIBE (ARUBA) N.V
- BBA BANK N.V.
- CARIBBEAN MERCANTILE BANK N.V.
- CENTRALE BANK VAN ARUBA
- IMTRADEX INTERNATIONAL N.V.
- INTERBANK ARUBA NV
- RBC ROYAL BANK (ARUBA) N.V. (FORMERLY RBTT BANK ARUBA N.V.)
Aadmi can support you with your expansion to Aruba. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.