ELECTRONIC AGREEMENTS IN CARACAO AND SINT MAARTEN

The Dutch Caribbean digital signature exists for over 10 years

The Curacao Ordinance on Electronic Agreements a.k.a. the Curacao Ordinance on agreements concluded electronically (Landsverordening overeenkomsten langs elektronische weg) became effective on 1 January 2001. The Ordinance in St. Maarten is similar to the one in Curacao.

The Ordinance provides that an electronic signature shall have the same legal effect as a hand-written signature, and may be admitted as evidence in legal proceedings. An electronic signature is described as electronic data which are attached to or have a logical association with other electronic data and are used as a tool …
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11
Feb 2011
CATEGORY

Legal

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VOLUNTARY DISCLOSURE AND THE HUNT FOR UNDISCLOSED ACCOUNTS BY US AND DUTCH TAX AUTHORITIES

Propaganda machines up to speed

Publicity efforts by the US and Dutch tax authorities indicate that the hunt for undisclosed accounts in typical offshore jurisdictions is still a hot item. Although Curacao was not mentioned by the US authorities, the Dutch tax authorities announced a new search for undisclosed accounts in Curacao based on information provided by the French tax authorities. The IRS announced a new voluntary disclosure program which mitigates the risk of criminal prosecution in exchange for paying taxes, interest and a standardized penalty. Furthermore, the IRS announced that they will follow ‘new leads’ emanating from voluntary disclosures. …
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02
Feb 2011
CATEGORY

Tax

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REQUESTS FOR INFORMATION BY FOREIGN TAX AUTHORITIES

A request for information needs to contain specific information

The former Netherlands Antilles concluded several tax information exchange agreements (‘TIEA’) during recent years. These TIEAs also apply to the newly formed country Curacao. The Tax Arrangement for the Kingdom (‘TAK‘) is applicable within the Kingdom of the Netherlands, which includes Curacao. Article 37 of the TAK also contains the facilities for the exchange of information within the Kingdom.

Without a TIEA in place or a specific article in a double tax treaty facilitating the exchange of information between the treaty parties, the Curacao tax authorities would be prohibited from effectively exchanging …
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21
Dec 2010
CATEGORY

Tax

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PROPOSED REVIEW DUTCH CARIBBEAN CORPORATE CODE

Various proposals not yes discussed here

The prohibition of appointing Supervisory Directors besides a ‘one-tier Board’ will be deleted (Article 2:19 paragraph 1 proposed bill). Supervisory Directors being a legal entity are allowed to a limited extent (Article 2:19 paragraph 3 proposed bill).

For the NV and the BV the law determines who has the right to attend meetings (Article 2:129/229 proposed bill). Unfortunately, in this connection no attention is given to the holders of depositary receipts for shares. In the case of concurred depositary receipts (i.e. certificates released with the co-operation of the corporation) I would prefer to grant the holders …
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14
Dec 2010
CATEGORY

Corporate

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AESX PLATFORMS ANNOUNCES LAUNCH OF WEST AFRICA SUSTAINABLE ECONOMIC INITIATIVE

AESX 

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 Grameen Financial Officer Linda Yahr, supported by an impressive team whose mission is to create a “ladder of prosperity” to “bottom of the …
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21
May 2008
CATEGORY

Various

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