On-line gaming is a legitimate business On-line gaming is a legitimate business activity in the Netherlands Antilles, especially Curaçao, provided the e-gaming company has obtained the proper license. The Netherlands Antilles (master) gaming licenses are based on the National Ordinance on Offshore Hazard Games. There are two formats to be licensed: a) having a master… Continue reading ON-LINE GAMING UNDER THE LAWS OF THE NETHERLANDS ANTILLES
Author: Karel Frielink
COMPUTER VIRUSES SENT TO PC OWNERS IN THE NETHERLANDS ANTILLES AND ARUBA
Infecting someone else his computer is punishable and illegal The day before yesterday, I received an e-mail suggesting that my IP-address has been logged on more than 30 illegal websites. The sender: mail@cia.gov. A zip-file was attached and the sender wanted me to answer his questions. And guess what I did not open the… Continue reading COMPUTER VIRUSES SENT TO PC OWNERS IN THE NETHERLANDS ANTILLES AND ARUBA
DO YOU WANT YOUR ATTORNEY TO SAY ‘I DON’T KNOW’?
A lesson to learn from William Swanson Today I received ‘Swanson’s (Un)Written Rules of Management‘. William Swanson is Raytheon’s Chairman and CEO. In the preface of this little book, he explains that listening has always been very important to him; it should be important to lawyers / attorneys, too! In this book, Swanson gives 25… Continue reading DO YOU WANT YOUR ATTORNEY TO SAY ‘I DON’T KNOW’?
SET-OFF UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
Set-off is one of the most complex legal concepts Set-off (a.k.a. compensation or – in the financial markets- netting) under the laws of the Netherlands Antilles and Aruba gives a debtor the possibility of compensating his debt by a claim of his creditor, in which case both obligations are extinguished up to the amount which… Continue reading SET-OFF UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
CONSOLIDATED LIQUIDATION OF BANKRUPT ESTATES UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
Only possible in exceptional circumstances Bankruptcy in general serves the purpose of liquidating assets and distributing the proceeds among the combined creditors. Sometimes, several companies belonging to one and the same group of companies go bankrupt. In principle, the trustee in bankruptcy has to administer and liquidate the assets of each of the bankrupt estates… Continue reading CONSOLIDATED LIQUIDATION OF BANKRUPT ESTATES UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
ROOTS OF OUR FUTURE: THE FUTURE OF CURACAO, NETHERLANDS ANTILLES
A fascinating book In her book Roots of our Future; A Commercial History of Curacao, Linda M. Rupert presents an overview of the colorful commercial of Willemstad, Curacao. It covers over three hundred years. Around 2500 BC the first Amerindians arrived on Curacao from northern South America. Around 500 AD members of the tribe of… Continue reading ROOTS OF OUR FUTURE: THE FUTURE OF CURACAO, NETHERLANDS ANTILLES
AMENDING THE ARTICLES OF ASSOCIATION OF A NETHERLANDS ANTILLES COMPANY
Amendments may be adopted by a simple majority The general meeting of shareholders may amend the articles of an NV or BV save for limitations in the articles itself. Unless the articles provide otherwise, amendments need to be adopted by a simple majority of votes. Usually, the articles require a special majority (e.g. 75% of… Continue reading AMENDING THE ARTICLES OF ASSOCIATION OF A NETHERLANDS ANTILLES COMPANY
COSTS OF INCORPORATION OF A NETHERLANDS ANTILLES COMPANY
The amount of fees depends on the nature of the company Expenses incurred on the incorporation of a Netherlands Antilles NV (public limited liability company) or BV (private limited liability company) will include the following: – fee of the civil law notary – costs of name searches – registration fee chamber of commerce – costs… Continue reading COSTS OF INCORPORATION OF A NETHERLANDS ANTILLES COMPANY
REGISTRATION AT THE CHAMBER OF COMMERCE IN THE NETHERLANDS ANTILLES
The chamber maintains a commercial register The Chamber of Commerce maintains a commercial register (handelsregister) which is open to public inspection. Upon the incorporation of a legal entity, in particular companies like the Netherlands Antilles NV and BV, the entity must be registered at the commercial register and an authentic copy of the notarial deed… Continue reading REGISTRATION AT THE CHAMBER OF COMMERCE IN THE NETHERLANDS ANTILLES
THE NOMINAL VALUE OF SHARES IN A NETHERLANDS ANTILLES COMPANY
The nominal value may be expressed in different currencies The Netherlands Antilles Guilder is the official currency of the Netherlands Antilles. In The Netherlands the Euro is the official currency as of 1 January 2002. The nominal value, if any, of shares in the capital of a Netherlands Antilles company (NV or BV) may be… Continue reading THE NOMINAL VALUE OF SHARES IN A NETHERLANDS ANTILLES COMPANY
ACQUISITION OF SHARES BY A NETHERLANDS ANTILLES COMPANY
One share with full value must remain outstanding A Netherlands Antilles company (NV or BV) may only acquire shares in its own capital from third parties as long as the net equity of the company is not negative and will not become negative as a result of such transaction. If the company has a nominal… Continue reading ACQUISITION OF SHARES BY A NETHERLANDS ANTILLES COMPANY
THE COURT SYSTEM OF THE NETHERLANDS ANTILLES AND ARUBA
The Supreme Court in The Hague is the highest Dutch court The court of first instance consists of judges who are a member of the Joint High Court of Justice. Each case is handled by one judge. Court sessions take place on Aruba, Curacao, Bonaire, St. Maarten, St. Eustatius and Saba. There is also a… Continue reading THE COURT SYSTEM OF THE NETHERLANDS ANTILLES AND ARUBA