Author: Karel Frielink

Preliminary relief within two weeks In all matters in which an immediate injunction, measure, or decision is required, the parties may address themselves to the Court. If the matter does not require immediate resolution, the Court will deny the relief sought and refer the parties to the normal procedure. Preliminary relief proceedings (‘kort geding procedure’)… Continue reading PRELIMINARY RELIEF PROCEEDINGS ON ARUBA

High denomination dispensation Further to the previous posting, investment institutions that offer their participating interests only or also to natural persons and/or legal entities considered by the Central Bank to have comparable skills and competency as professional parties to form their own balanced opinion about the offer being made, may in individual cases be exempted.… Continue reading FOREIGN INVESTMENT INSTITUTIONS IN THE NETHERLANDS ANTILLES (IV)

General professionals-only exemption Apart from the partial exemptions mentioned in the previous posting, various general exemptions are available. If such a general exemption applies, no further stipulations under or pursuant to the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (‘Landsverordening toezicht beleggingsinstellingen en administrateurs’) apply to the investment institution in question.… Continue reading FOREIGN INVESTMENT INSTITUTIONS IN THE NETHERLANDS ANTILLES (III)

Partial exemption for foreign investment institutions In order to receive certain (partial) dispensation from license requirements under the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (‘Landsverordening toezicht beleggingsinstellingen en administrateurs’, the ‘NOSIIA’), the Central Bank requires foreign investment institutions to provide their (prospective) investors in the Netherlands Antilles with some additional… Continue reading FOREIGN INVESTMENT INSTITUTIONS IN THE NETHERLANDS ANTILLES (II)

Licenses regarding foreign investment institutions In accordance with the National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (‘Landsverordening toezicht beleggingsinstellingen en administrateurs’), an investment institution shall be granted a license if it and its depositary, if employed by the investment institution, comply with the requirements stipulated in the Central Bank’s (‘Bank van… Continue reading FOREIGN INVESTMENT INSTITUTIONS IN THE NETHERLANDS ANTILLES (I)

How can the fund industry benefit from the tax legislation? In the Netherlands Antilles it is possible to reach an agreement with the tax authorities with respect to the tax regime that will be applied to a specific company. Standard tax-rulings are available for corporations structured as funds. Most (hedge) funds will qualify for a… Continue reading FUNDS IN THE NETHERLANDS ANTILLES (III)

How does the regulatory environment support the funds industry? A new regulatory regime (new investment fund supervision regulations, corporate service providers rule and new anti-money laundering rules) provides comfort to investors. Curacao is not (and never has been) listed on any international blacklist (OECD, FATF). The Curacao regulator, the Central Bank of the Netherlands Antilles,… Continue reading FUNDS IN THE NETHERLANDS ANTILLES (II)

How does the corporate environment support funds? Establishing a fund in Curacao has become very attractive since under new corporate law a private limited liability company can be established very quickly and the flexible attributes of this new legal entity encompass virtually all the needs of most hedge fund structures. Benefits include: – No minimum… Continue reading FUNDS IN THE NETHERLANDS ANTILLES (I)

Legal blogging and cultural differences Do legal bloggers from different countries blog differently? And if so, is it just because of cultural differences, or is this caused by the local legal environment as well? Are legal blogs getting noticed? How and why? Do cultural differences play a role in this respect? Do people appreciate legal… Continue reading LEGAL BLOGGING IS BECOMING MORE POPULAR

When should the notification be given? Netherlands Antilles Special Purpose Vehicles (‘SPVs’) are frequently used in cross-border financing transactions, including (synthetic and cash) securitizations, repackagings, collateralized debt obligations (‘CDOs’) and collateralized loan obligations (‘CLOs’) and leasing transactions, MTN and other note issuance programs. Under Netherlands Antilles law receivables can be transferred unless a statutory or… Continue reading SECURITIZATION AND THE TRANSFER OF RECEIVABLES UNDER THE LAWS OF THE NETHERLANDS ANTILLES

Certain limitations apply Under certain conditions it is possible to obtain a tax-exempt status for a Netherlands Antilles private limited liability company (‘BV‘). As a consequence of this status, such a BV will not be subject to Netherlands Antilles corporate income tax. To obtain such status the following criteria will have to be met: 1.… Continue reading THE NETHERLANDS ANTILLES TAX-EXEMPTED PRIVATE LIMITED LIABILITY COMPANY

Preliminary hearing of witnesses Although witnesses are most commonly heard during legal proceedings, they may be heard before. The preliminary hearing of witnesses is a special procedure created to avoid unnecessary proceedings or proceedings based on a mistaken legal assumption or mistaken identity. A request to examine witnesses prior to the proceedings is made to… Continue reading WITNESSES IN THE NETHERLANDS ANTILLES