Aruban entrepreneur and major shareholders, a self-administered pension is no longer possible. Now what?

The fiscal option to build up a pension under your own administration was beneficial for you as an independent entrepreneur. This pension was not insured at an external insurance company, but could be included as an obligation on your company balance sheet.

?However, the Aruban Government recently changed this legislation. Consequently, as of January 1, 2023, this is no longer possible.

This decision is included in the Tax Plan 2023 which is formally established in the National Ordinance Tax Plan 2023 and published in Aruba’s Proclamation Sheet on the 21st of December 2022.

?Being an entrepreneur you are now confronted with a challenge, as your pension on your company balance no longer is deductible and you will pay more tax. In reality this means that you no longer are able to save up for your pension. Nonetheless, a well arranged pension plan is very important. Especially for you, being an independent entrepreneur and are not included in an employer’s pension plan.

?Thus, it is important to think about a different solution for your pension. One that offers benefits of deductible costs on your company balance.

Contact an experienced pension specialist for more information about the benefits of a flexible entrepreneurial pension according to your personal situation and needs.?

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Phone number: 528-3105

E-mail address: [email protected]

Michelle de Groot

Commercial Manager Guardian Group Aruba