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There was a deep constitutional crisis in 2004 among the islands that made up the Antilles (Netherlands). As a result, Curacao and St. Martin became self-governing countries together with Holland and the Caribbean island of Aruba; in the meantime, the other three islands, Saba, Bonaire and St. Eustatius remain under the direct control of the Dutch government.
The decommissioning of the Antilles (Netherlands) began in July 2007 and ended in 2010. Curacao continued to be controlled by the Dutch monarchy, who is Head of the State and Holland, is responsible for foreign affairs and the defense of Curacao. The island's inhabitants are Dutch citizens. Curacao's economy depends mostly on tourism and offshore financial services. Taxes on residents are high, but there has been a very well-developed offshore sector since the period of the Second World War, when the island was used b the Dutch companies as an economic refuge, before the Nazi occupation. At the present, the bank, mutual funds (for professional investors, licenses, insurance and holding companies are the main offshore sectors. The tax burden on most of the offshore activities is light, but not minimum. Offshore Banks of the Antilles (Netherlands)
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