A digital signature has the same legal effect as a hand-written signature The Ordinance on agreements concluded electronically (‘Landsverordening overeenkomsten langs elektronische weg’) became effective on 1 January 2001. Trade, financial services and other commercial activities are being conducted electronically at a rapidly growing rate. The Netherlands Antilles was ahead of many countries in developing… Continue reading ELECTRONIC TRANSACTIONS IN THE DUTCH CARIBBEAN
Month: May 2008
AESX PLATFORMS ANNOUNCES LAUNCH OF WEST AFRICA SUSTAINABLE ECONOMIC INITIATIVE
The Alternative Electronic Stock eXchange has created a specialty exchange for sustainable (financial and social) investing, the MicroFinance Exchange MFDAQ. The MicroFinance Exchange announced yesterday (20 May 2008) the availability for subscription of the first social enterprise to seek capital through the Exchange. The West Africa Sustainable Economic Initiative (WASEI) is the brainchild of former… Continue reading AESX PLATFORMS ANNOUNCES LAUNCH OF WEST AFRICA SUSTAINABLE ECONOMIC INITIATIVE
COMPLIANCE IN THE DUTCH CARIBBEAN
Curacao considers how the US deals with compliance Compliance is essentially about systems and procedures at corporations, banks, funds, trust offices, insurance companies and the like, to ensure that their officers and employees are aware of and take steps to comply with the relevant laws and regulations. It is also referred to as ‘regulatory compliance’.… Continue reading COMPLIANCE IN THE DUTCH CARIBBEAN
FILING FOR BANKRUPTCY IN THE DUTCH CARIBBEAN
The ultimate recourse against a person not paying his debts The bankruptcy order can be applied for either by the debtor or by one or more of its creditors. If the debtor is a company then, pursuant to Article 2:8 par. 4 of the Civil Code, the managing directors do not have the authority to… Continue reading FILING FOR BANKRUPTCY IN THE DUTCH CARIBBEAN
DUTCH CARIBBEAN HEDGE FUNDS
Curacao provides a favorable climate for hedge funds Curacao, part of the Netherlands Antilles, currently provides a favorable tax, legal and regulatory climate for hedge funds. A fund vehicle can be established quickly and flexibly. Additionally, the current regulatory regime for the supervision of investment institutions and administrators and the anti-money laundering rules provide comfort… Continue reading DUTCH CARIBBEAN HEDGE FUNDS
HERO BRINKMAN AND THE DUTCH CARIBBEAN POLITICIANS
If you want to read about my personal views on Hero Brinkman click here (in Dutch only). Karel Frielink
DUTCH CARIBBEAN BUSINESS LICENSES
Citizens versus non-citizens According to the Netherlands Antilles Ordinance on the Establishment of Businesses (‘Landsverordening betreffende vestiging van ondernemingen’, PB 1946 nr. 43) a license is required to establish a company (‘vestigingsvergunning’). A further license is required to operate one as an individual director if one is not a citizen of the Netherlands Antilles (‘directievergunning’).… Continue reading DUTCH CARIBBEAN BUSINESS LICENSES
DUTCH CARIBBEAN ANTI-MONEY-LAUNDERING REGULATIONS (II)
Filing MOT report no blanket protection A provider of financial services, e.g. a bank, has the obligation under Section 11 of the MOT (National Ordinance Penalization Money Laundering) to report to the Financial Intelligence Unit (FIU), without delay, any unusual transaction made or proposed. Unusual transactions are described in the Ministerial Decree Indicators Unusual Transactions.… Continue reading DUTCH CARIBBEAN ANTI-MONEY-LAUNDERING REGULATIONS (II)