Karel’s Legal BlogLOOKING FOR AN ATTORNEY / LAWYER / TAX ADVISER IN THE NETHERLANDS ANTILLES OR ARUBA?
It is not necessary that a share shares in the profits of a company
It is not necessary to give all shares a right to share in the profits. If shares have a par value, it is obvious that the right to share in the profits is related to that value. If there are shares with […]
Filed under: legal by Karel.Frielink
No Comments »
No minimum capital is required
Concepts like registered, subscribed and contributed capital do not occur in the Netherlands Antilles Corporate Act. Therefore, no minimum capital is required, unless such a requirement is included in the articles of association. There can be voting shares, non-voting shares and shares with restricted voting rights. Shares can have a par […]
Filed under: legal by Karel.Frielink
No Comments »
Unprecedented possibilities
The Netherlands Antilles Corporate Act, in force as of 1 March 2004, shows a bold new approach to Netherlands Antilles corporate law as such. One striking aspect is that this legislation gives shareholders far more freedom to organize their company than in the past:
* shareholders of a public limited liability company (’NV’) or private […]
Filed under: legal by Karel.Frielink
No Comments »
Tax and other issues should be considered
What are the choices for a businessman under the laws of Netherlands Antilles for the establishment of a business venture?
The choices are:
- sole proprietorship (’eenmanszaak’)
- a general partnership (’vennootschap onder firma’)
- a limited partnership (’commanditaire vennootschap’)
- a limited liability company, either private or public
It is generally believed that partnership […]
Filed under: legal by Karel.Frielink
No Comments »
An insurance to protect employees against the financial consequences of sickness
The National Ordinance Sickness Insurance covers the sickness insurance of employees and certain relatives. The employees that do earn more than the maximum wage as mentioned above are not ensured.
The premium for the employee and his family is calculated based on a percentage of the […]
Filed under: legal by Karel.Frielink
No Comments »
An insurance to protect employees against the financial consequences of accidents
The National Ordinance Accident Insurance (’OV’) contains rules about the insurance of employees against occupational accidents. Among others the OV regulates the right of the employee to medical treatment and nursing care, financial allowances for occupational disability, the premiums that have to be paid and […]
Filed under: legal by Karel.Frielink
No Comments »
The treaty deals with the Netherlands Antilles
There is a treaty between the Kingdom of the Netherlands in respect of the Netherlands Antilles and the Kingdom of Norway for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and on capital. The treaty became effective 1 January 1991.
The treaty […]
Filed under: legal by Karel.Frielink
No Comments »
Certain requirements must be met
Pursuant to the Netherlands Antilles Civil Code (article 6:127 et seq), the authority to set-off (’verrekeningsbevoegdheid’), exists if
(i) the receivable and the debt (a) are between the same parties and correspond with each other (’aan elkaar beantwoorden’) and (b) fall in the same estate (’vermogen’) at both ends and
(ii) the party […]
Filed under: legal by Karel.Frielink
No Comments »
The principle of territoriality has been adopted
There is no Netherlands Antilles legislation prescribing the effects in the Netherlands Antilles of a foreign bankruptcy. The Supreme Court (’Hoge Raad’) in the Hague, the Netherlands, being the Supreme Court for not only the Netherlands, but also Aruba and the Netherlands Antilles, has adopted the territoriality principle on […]
Filed under: legal by Karel.Frielink
No Comments »
An expatriate enjoys certain tax advantages
The Expatriates rules are defined in the Expatriates Decree 1998. An Expatriate is an employee in an employer - employment relationship that immediately and prior to his employment in the Netherlands Antilles, has lived abroad during a continuous period of at least five years.
If all conditions for the Expatriate-status are […]
Filed under: legal by Karel.Frielink
No Comments »