THE STRUCTURE OF A NETHERLANDS ANTILLES (CURACAO) FUND

It is easy and not expensive to set up a SPV
From a legal point of view, establishing a fund in Curaçao has become very attractive since under new corporate law a private limited liability company (besloten vennootschap) can be established very quickly and very flexible. Virtually everything is possible with this new legal entity. There […]

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WHAT IS PIERCING THE CORPORATE VEIL?

Ignoring the legal personality of a company
A shareholder is not personally liable for acts performed in the name of the company and is not liable to contribute to losses of the company in excess of the amount which he must pay to the company as contribution for his shares. Therefore, there is a legal separation […]

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PRINCIPLES OF THE LEGAL PROFESSION

Principles recognized by the European Court of Justice in the Wouter case (C-309/99)
Created in 1960, the Council of Bars and Law Societies of Europe (CCBE) is the officially recognized representative organization for the legal profession in the European Union (EU) and the European Economic Area (EEA). The CCBE represents over 700,000 lawyers through its member […]

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WHAT ARE THE SIDE-EFFECTS OF THIS WEBLOG?

Mouse Rage Syndrome causes stress and anxiety
When reading this weblog did you experience quickening of the heart and profuse sweating? Have you furiously clicked and bashed your mouse? If so, you may suffer from the Mouse Rage Syndrome. A report published by the UK Social Issues Research Centre suggests that there is a link between […]

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TAX QUESTION REGARDING A YACHT

Can a vessel be bought without paying taxes on the sale?
Question: I am residing in the US and want to buy a yacht from a company established in the Netherlands Antilles (Curacao). The yacht is registered in a foreign country as a private yacht. Is it possible to purchase the vessel without paying taxes on […]

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THE LIABILITY OF AN EMPLOYER IN THE CASE OF AN ACCIDENT

Accident followed by a ‘sex drive’
According to the 13 December 2006 edition of Times On Line, a Christian newly-wed has filed a £3.5 million compensation claim against his employers, saying that his marriage was ruined because his sex drive spiraled out of control after he injured his head at work. He claims that the accident […]

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STATUTORY MERGERS UNDER THE LAWS OF THE NETHERLANDS ANTILLES

A notarial deed is required
A statutory merger involves at least two legal entities. The law uses the terms acquiring and disappearing legal entity. The law specifies that only legal entities having the same legal form may merge, specifying that a BV (closed limited liability company) and a NV (public limited liability company) are considered to […]

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A POWER OF ATTORNEY UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA

Unauthorized agents are personally liable
A power of attorney is a right that the principal grants to a person to perform legal acts (including contracts) in his name. The person who receives the power of attorney obtains the right to represent his principal. The granting of a power of attorney is a unilateral legal act. There […]

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GENERAL CONDITIONS UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA

General conditions may be nullified
Since 1 January 2001 the Netherlands Antilles Civil Code (CC) contains a section on general conditions. By including this section in the CC the legislator tried to strengthen the judicial supervision on the terms of general conditions in order to protect the contracting party against the use of general conditions, since, […]

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