A license is required

A Netherlands Antilles limited liability company (NV or BV) and each of its managing directors must obtain a business and directors license. Only managing directors that are born in the Netherlands Antilles and have the Dutch nationality are exempted and do not have to obtain a directors license.

If the company amends the objects clause of its articles of association a new business license must be obtained from the Department of Economic Affairs. A dismissal of a managing director should be notified to the Department of Economic Affairs. In addition, each company must have a local managing director. For so-called offshore companies a local representative is sufficient.

In the event that the business and directors license has been granted based on intentional inaccurate or intentional incomplete information, or for certain other reasons the business and directors license shall be revoked.

A violation to the prohibition to have a business without a business and directors licenses shall be punishable with a fine (with a maximum of NAF 500) or detention with a maximum of one month.

Karel Frielink
Curacao-based Attorney (lawyer) / Partner

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