176 Permits for New Businesses Granted in the Second Quarter of 2024
ORANJESTAD - One of the tasks of the Ministry of Economic Affairs is to grant permits to those who want to start a business or make changes to an existing one. Companies can submit a digital application to the Department of Economic Affairs, Trade, and Industry (DEACI).
From April to June 2024, DEACI received six types of applications, totaling 610. Of the 610 applications received, 213 applications have been processed and approved, 211 applications are in process, and 186 applications are pending due to missing documents or payments. Of the 213 permits granted, 176 are for new businesses. Of the 176 permits granted, 23 were for a sole proprietorship, 16 for a branch, 135 for a VBA, and 2 for a partner in a VOF.
Real estate, holding companies, the hospitality industry, like coffeehouse-restaurant-café-etc., construction companies, and retail stores in various items, such as clothing, jewelry, and e-commerce, are the commercial activities that received the most permits.
In October 2022, the government introduced a new establishment policy to accelerate the permitting process through digitalization to stimulate promising sectors and investments in the center of Oranjestad and San Nicolas.
Minister of Economic Affairs, Communication, and Sustainable Development Geoffrey Wever commends DEACI for their commitment to efficiently and quickly processing business permits.
For more information on the permit process, you can consult their brochure Business Establishment Policy Guidelines (English).
