CORPORATE GOVERNANCE IN CURACAO

Lessons for the government

1. Why is good corporate governance necessary?

Basically, corporate governance is about the structures and processes for the direction and control of a company.

Corporate governance is intended to increase the accountability of a company and to avoid massive disasters before they occur. It is held that good corporate governance helps companies operate more efficiently, improve access to capital, mitigate risk and safeguard against mismanagement.

According to the International Finance Corporation of the World Bank Group:

It makes companies more accountable and transparent to investors and gives them the tools to respond to legitimate stakeholder concerns …
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05
Apr 2017
CATEGORY

Corporate

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THE MANAGING DIRECTOR OF A DUTCH CARIBBEAN NV OR BV

A somewhat unique figure

The Managing Director (bestuurder) under the articles of incorporation of an NV or BV is a somewhat unique figure in Netherlands Antilles labor law due to the fact that he enjoys considerably less protection from a labor law perspective than a regular employee. In other words an employer can more easily dismiss a managing director than an employee. An employer does not, for example, require prior approval from the Directorate of Labor Affairs to terminate the employment contract of a managing director. It goes without saying, that the agreed period of notice between the parties must …
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15
Jun 2010
CATEGORY

Legal

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ARUBAN LAW REGARDING CORPORATE AUTHORITY

The Aruba Trade Register should be checked

The laws of Aruba provide that, subject to restrictions laid down by any statutory provision or a corporation’s articles of association, the board of directors of a company shall be competent to represent the company, i.e. a limited liability company (NV, AVV or VBA). In the event of the company having several managing directors, any managing director shall be competent, insofar as not otherwise provided by the articles of association (or sometimes bylaws). The articles of association may also grant other officers, to be designated by or pursuant to the articles, representative authority, …
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06
Feb 2010
CATEGORY

Corporate

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DUTCH CARIBBEAN LAW REGARDING CORPORATE AUTHORITY

Trade Register should be checked

Netherlands Antilles law provides that, subject to restrictions laid down by the Netherlands Antilles Corporate Code or a corporation’s articles of association, the board of directors of a corporation shall be competent to represent the corporation, e.g. a limited liability company (NV or BV). In the event of the corporation having several managing directors, any managing director shall be competent, insofar as not otherwise provided by the articles of association. The articles of association may also grant other officers, to be designated by or pursuant to the articles, representative authority, whether or not together with …
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24
Feb 2009
CATEGORY

Corporate

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THE STRUCTURE OF A DUTCH CARIBBEAN FUND

It is easy and inexpensive to set up a SPV (Special Purpose Vehicle)

From a legal point of view, establishing a fund in Curaçao is very attractive under the corporate law in force since March 1, 2004, whereby a private limited liability company (besloten vennootschap) can be established very quickly and flexibly. Virtually everything is possible with this new legal entity. There is no minimum issued share capital requirement. Incorporation may be done within a day does not require any prior governmental approval. It is possible to split voting rights and dividend rights. There is no statutory requirement to have …
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10
Feb 2009
CATEGORY

Finance

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