TRANSFERING SHARES IN A NETHERLANDS ANTILLES BANK
Approval Central Bank required
The (indirect) transfer of shares in a Netherlands Antilles credit institution (bank), a so-called change of control, is subject to the prior written approval of the Central Bank of the Netherlands Antilles. For this approval the Central Bank evaluates the identity, financial position and the antecedents of the prospective (indirect) shareholders.
Therefore, the management of such credit institution should submit the following information of the prospective (indirect) shareholders to the Central Bank:
- the personal questionnaires of their managing directors;
- their audited financial statements for the last three years;
- their articles of association, and
- a group chart containing an outline of all the companies and institutions in the group, including the ultimate parent company and ultimate beneficial owners.
The Central Bank may request additional information regarding the prospective shareholders if the submitted information is deemed insufficient to form an adequate opinion on their identity, financial position and their antecedents.
Karel Frielink
Attorney (lawyer) / Partner
