Elections held on 11 December 2008 Willem “Billy” Jonckheer (owner Jonckheer Advertising & Marketing Consultants) has been re-elected as member of the Board of Directors of the Curacao Chamber of Commerce. Karel Frielink (partner Spigthoff Attorneys & Tax Advisers) has been elected to the same Board. The Curacao Chamber of Commerce and Industry is the… Continue reading BOARD OF DIRECTORS CURACAO CHAMBER OF COMMERCE
Author: Karel Frielink
CAN A FOREIGN COMPANY BUY SHARES IN A DUTCH CARIBBEAN COMPANY?
Generally speaking: yes Under Netherlands Antilles law, no specific requirements exist regarding the purchase of shares in a Netherlands Antilles offshore company by a foreign company. The Netherlands Antilles do not have any anti-trust regulations. In the Netherlands Antilles there are no statutory requirements preventing the sale of one or all the shares issued and… Continue reading CAN A FOREIGN COMPANY BUY SHARES IN A DUTCH CARIBBEAN COMPANY?
THE GENERAL PENSION FUND OF THE NETHERLANDS ANTILLES
The APNA is subject to supervision The General Pension Fund of the Netherlands Antilles (‘Algemeen Pensioenfonds van de Nederlandse Antillen’; the “APNA”) is governed by its own State Ordinance (‘Landsverordening Algemeen Pensioenfonds van de Nederlandse Antillen’; “SOAPNA”). The APNA is subject to supervision by the Netherlands Antilles Central Bank and, as far as the annual… Continue reading THE GENERAL PENSION FUND OF THE NETHERLANDS ANTILLES
DUTCH CARIBBEAN COURT DECISION IN TELECOM CASE
Scarlet about to enter telecom market in Sint Maarten On 18 November 2008, the Administrative Court in Sint Maarten ruled that the Executive Council of Sint Maarten was not authorized to refuse Scarlet a business license for the provision and operation of international telecommunications services in Sint Maarten (click here for the judgment). Scarlet, represented… Continue reading DUTCH CARIBBEAN COURT DECISION IN TELECOM CASE
INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (III)
A broker must be registered Under the National Ordinance on the supervision of the insurance brokerage business 2003 (Landsverordening toezicht assurantiebemiddelingsbedrijf 2003, “NOSA”), insurance brokers (assurantiebemiddelaars) are prohibited from providing services as an insurance broker unless they are registered in the relevant register administered by the Central Bank. “Insurance Broker” means anyone who, other than… Continue reading INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (III)
INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (II)
Limitations apply to a foreign insurance company A foreign insurance company, i.e. a company not having its seat in the Netherlands Antilles and not operating through any kind of branch office (including a local representative), is allowed to insure a risk located in the Netherlands Antilles (for instance Curaçao), provided this occurs on an incidental… Continue reading INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (II)
INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (I)
A license is required The insurance business in the Netherlands Antilles is regulated by the National Ordinance on the Supervision of the Insurance Business 1990 (Landsverordening toezicht verzekeringswezen, the “NOSI”). The NOSI divides the insurance business into life insurance and indemnity insurance products. Indemnity insurance products are in turn divided into a number of categories:… Continue reading INSURANCE BUSINESS IN THE DUTCH CARIBBEAN (I)
SERVICE OF PROCESS IN THE DUTCH CARIBBEAN
This is done by a bailiff What is the procedure for the service of foreign proceedings under Netherlands Antilles procedural law for a company having its registered address in, for instance Curaçao? Under Netherlands Antilles procedural law, the service of proceedings on a Netherlands Antilles legal person will be done by means of a bailiff’s… Continue reading SERVICE OF PROCESS IN THE DUTCH CARIBBEAN
AGENCY AGREEMENTS IN THE DUTCH CARIBBEAN
An agent is entitled to commission Under the Civil Code of the Netherlands Antilles (article 7:428), an agency agreement is defined as a contract for a fixed or indefinite period of time between a principal and an agent, whereby the agent agrees, against payment, to mediate in the conclusion of contracts and to eventually conclude… Continue reading AGENCY AGREEMENTS IN THE DUTCH CARIBBEAN
MASS LAY-OFF UNDER THE LAWS OF THE DUTCH CARIBBEAN
Permission required The termination of the employment contracts of more than 25 employees or of 25% or more of the employees of a company is considered a mass lay-off. For such a mass lay-off permission is required from the Director of the Department of Labor and Social Affairs irrespective of the nature of the company’s… Continue reading MASS LAY-OFF UNDER THE LAWS OF THE DUTCH CARIBBEAN
CITIZENS RESCUE ORGANIZATION CURACAO NEEDS YOUR SUPPORT
Wanted: on-shore rescuers The Citizens’ Rescue Organization, Curacao (CITRO) provides search and rescue services in the waters around Curacao in the Netherlands Antilles. The organization comprises a group of volunteers, who are on call and prepared for sea rescue 24 hours a day 7 days a week. As a member of the CITRO Advisory Council… Continue reading CITIZENS RESCUE ORGANIZATION CURACAO NEEDS YOUR SUPPORT
A JOINDER BETWEEN PARTIES IN THE DUTCH CARIBBEAN
An interest must be proved When two parties are involved in legal proceedings a third party may request permission to join the proceedings thereby to joining with one party in raising defense against the other (‘voeging’). Alternatively, a third party may request permission to intervene (‘tussenkomen‘) in pending proceedings, in which case neither party is… Continue reading A JOINDER BETWEEN PARTIES IN THE DUTCH CARIBBEAN