Category: Legal

Common practice It is common practice around the world for (dealing rooms of) banks and brokers to tape conversations with their clients in order to avoid misunderstandings as to the selling or buying instructions given by the clients. There are no specific laws or regulations in the Netherlands Antilles applicable to this aspect of telephone taping.… Continue reading TELEPHONE TAPING BY BANKS IN THE DUTCH CARIBBEAN

A license is required One or more Netherlands Antilles legal entities or companies (offshore companies) are inserted in many international group structures. This is mainly done for tax purposes. Another reason for using a Netherlands Antilles company may be to have a company with a seat in a respected jurisdiction with a well functioning legal… Continue reading TRUST COMPANIES IN THE DUTCH CARIBBEAN

Permanent establishment creates a taxable presence Foreign companies wishing to promote their products in Aruba may ask the question whether marketing activities result in taxable activities in Aruba. In Aruba the profit tax law applies the concept of a permanent establishment that creates a taxable presence without providing a definition. In practice it is understood that the… Continue reading MARKETING EFFORTS BY FOREIGN COMPANIES IN ARUBA AND TAX CONSEQUENCES

Draft bill presented Last month a draft bill for new statutory provisions governing insurance contracts was presented for debate to professional circles such as insurance companies, intermediaries, the chamber of commerce, consumer organizations, the bar association, and the central bank. The author of the draft is Prof. Jan de Boer, member of the Netherlands Antilles and… Continue reading REFORMING DUTCH CARIBBEAN INSURANCE LAW

Attracting funds from the public at large is prohibited Article 45 of the Netherlands Antilles Ordinance on the Supervision of Banks and Credit Institutions 1994 (‘Landsverordening Toezicht Bank- en Kredietwezen 1994’) prohibits anyone from directly or indirectly turning to the public in the Netherlands Antilles with a view to attracting funds with the exception of credit… Continue reading ATTRACTING FUNDS IN THE DUTCH CARIBBEAN

Battle of the Stripes: Who will win? Like many of its customers wearing the very popular 3-stripe pattern, Sporting goods giant Adidas enjoys a good, sportive battle with opponents. However, in the case of Adidas, the battleground is not the football pitch, or the basketball or tennis court, but the legal arena. And, unlike many… Continue reading PROTECTING YOUR GOODS AND SERVICES UNDER DUTCH CARIBBEAN TRADEMARK LAW

Pledgee may exercise rights as if there is no bankruptcy Article 53 paragraph 1 of the Bankruptcy Act of the Netherlands Antilles states that a pledgee can exercise its rights as if there is no bankruptcy. Permission or co-operation of the trustee in bankruptcy is not required. Article 53 paragraph 2 of the Bankruptcy Act,… Continue reading THE RIGHT OF PLEDGES IN THE EVENT OF A BANKRUPTCY UNDER DUTCH CARIBBEAN LAW

A broad concept Corporate law is a broad concept. A Netherlands Antilles corporate lawyer (attorney) deals with a variety of matters, inter alia, the original establishment of businesses, the initial capitalization, ongoing financing transactions (private equity and debt), corporate governance, (cross-border) contractual relationships, joint ventures, shareholders’ agreements and directors’ liability. This area of practice also includes… Continue reading WHAT IS DUTCH CARIBBEAN CORPORATE LAW ABOUT?

Court approval required Seizing the assets of a counterparty may already be possible before a claim (e.g. under an agreement or a guarantee) is already due and payable, but where there is good reason to believe that, when it becomes due, the other party will not honor its obligations. How assets may be seized depends upon the jurisdiction in… Continue reading SEIZING ASSETS IN THE DUTCH CARIBBEAN

Several requirements apply Article 6:162 section 1 Netherlands Antilles Civil Code (NACC) stipulates four conditions for someone’s obligation to compensate damage based on an unlawful act (tort): A person has committed an unlawful act (‘onrechtmatige daad’) against another person; and The act can be attributed (‘toegerekend’) to that person; and Some other person has suffered… Continue reading UNLAWFUL ACTS UNDER THE LAWS OF THE DUTCH CARIBBEAN