CORPORATE GOVERNANCE AND BAD HABITS

Letter to the editor of The Daily Herald

Dear Editor,

According to Leroy de Weever (DP), he doesn’t need a Corporate Governance Council to come tell him how to do his job. He wants to disband the Corporate Governance Council as soon as possible.

Corporate governance rules were designed to protect companies from politicians, in particular from the government. Government-owned companies should be kept out of the political sphere as much as possible, so that they may benefit from commercial, businesslike and market-oriented management. In doing so, they also run less of a risk of being milked …
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23
Dec 2011
CATEGORY

Corporate

COMMENTS No Comments

GOOD CORPORATE GOVERNANCE REVISITED

Where these rules not designed to protect companies from the government?

It has been my opinion for many years already that government-owned companies should be kept out of the political sphere as much as possible, so that they may benefit from a commercial, businesslike and market-oriented management. In doing so they also run less of a risk of being milked or used as political toys.

When the current government of Curacao came into power a couple of months ago, it made it very clear, right from the beginning, that it intended to dismiss all and any supervisory directors of both …
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11
Jan 2011
CATEGORY

Corporate

COMMENTS No Comments

G-20 CONFIRMS: NETHERLANDS ANTILLES NOT ON BLACKLIST

The Netherlands Antilles and Aruba do not appear on the OECD blacklist of international tax havens

Although still on a so-called ‘greylist’, which is not an official list, but rather a progress report, the Netherlands Antilles and Aruba both have committed to the internationally agreed tax standard. A number of European countries, including Belgium, Luxembourg and Switzerland also feature on this list due to their bank confidentiality arrangements. The OECD has placed four countries on its blacklist: Costa Rica, Malaysia, the Philippines and Uruguay. Source: OECD.

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03
Apr 2009
CATEGORY

Legal

COMMENTS No Comments

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

COMMENTS No Comments

THE DUTCH CARIBBEAN AND OECD STANDARDS OF TRANSPARANCY AND EXCHANGE OF INFORMATION

OECD Secretary-General compliments the Netherlands Antilles and Aruba

In his speech on 21 October 2008, OECD Secretary-General Angel Gurría, addressed the issue of transparency and exchange of tax information in relation to offshore jurisdictions. The Secretary-General:

“In 2000 we identified over 40 tax havens and between 2000 and 2005 we were able to convince 35 of these tax havens to commit to the OECD standards of transparency and exchange of information. Seven tax havens initially refused to make this political commitment and were placed on a list of uncooperative tax havens. By 2008 this list …
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24
Oct 2008
CATEGORY

Legal

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BARACK OBAMA: WHAT HAS THE DUTCH CARIBBEAN TO GAIN OR TO LOSE?

What if he becomes the next President of the U.S.?

We have seen the results in Iowa and New Hampshire: Barack Obama gained much attention and got many votes. So there is a (slight) chance that he might be the Democratic candidate in the U.S. Presidential race, although no one should underestimate Hillary Clinton. Obama might even win the race, although no one should underestimate John McCain either.

Theoretically, Barack Obama could be the next President and if so, for argument’s sake, how would that affect the Dutch Caribbean? In 2007, three U.S. Senators proposed a bill against tax havens and tax paradises. This …
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09
Jan 2008
CATEGORY

Legal

COMMENTS No Comments