Category: Legal

It is not possible to directly issue bearer shares On 1 March 2004, the new Netherlands Antilles act on corporate law (Book 2 Civil Code) became effective. Since that date it is no longer possible to (directly) issue bearer shares. Also, a ‘deed of issuance’ is required: this instrument must be signed by the company… Continue reading BEARER SHARES AND THE LAWS OF THE NETHERLANDS ANTILLES

The last option to be taken? In case of a conflict between majority and minority shareholders in a Netherlands Antilles corporation there is a possibility to effectuate a splitting up of the parties by dividing the corporation into two (or more) corporations by a so-called legal division. Division is either absolute or partial with a… Continue reading CONFLICTS BETWEEN SHAREHOLDERS AND LEGAL DIVISION UNDER THE LAWS OF THE NETHERLANDS ANTILLES

  Business relationships can be created and developed through the internet. I’m using Ecademy for business networking. Why? Ecademy provides business people around the world with: Trusted business introductions and referrals Advertising for your business across the globe Employees, partners, suppliers and customers Admission to networking events around the world Unique tools on the website to build… Continue reading NETWORKING: ATTORNEYS DO IT TOO

The minimum amount must be at least US$ 50,000 Investment funds that offer their participating interests only or also to natural persons and/or legal entities considered by the Netherlands Antilles 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… Continue reading HIGH DENOMINATION DISPENSATION FOR NETHERLANDS ANTILLES-BASED INVESTMENT FUNDS

10 years is mandatory Pursuant to article 42 of the National Ordinance on the supervision of banking and credit institutions 1994 (‘Landsverordening toezicht bank- en kredietwezen’), a credit institution is obliged to, during at least 10 years, keep all letters, records, and data carriers in respect of its business activities and the movements in all… Continue reading KEEPING FINANCIAL DATA BY CREDIT INSTITUTIONS UNDER THE LAWS OF THE NETHERLANDS ANTILLES

A valid certificate of airworthiness is required Pursuant to section 8 of the Curaçao Aviation Decree (‘Curacaosch Luchtvaartbesluit 1935’), no aviation may be exercised if: – there is no valid certificate of airworthiness for the aircraft carrier issued by the authority in the jurisdiction of registration of the aircraft carrier; – the crew of the aircraft carries… Continue reading AVIATION LAWS IN THE NETHERLANDS ANTILLES

The liquidator takes control over the company Below you will find an outline of certain steps to be taken in order to accomplish the dissolution (‘ontbinding’) and liquidation (‘vereffening’) of a Netherlands Antilles company Steps to be taken to liquidation: 1. Resolution of the shareholders meeting to: (i) dissolute the company; (ii) appoint a liquidator; and (if they… Continue reading THE VOLUNTARY LIQUIDATION OF A NETHERLANDS ANTILLES COMPANY

Court termination for a serious cause Each party may request the competent Court to terminate the employment agreement on the basis of a serious cause. A serious cause may be an urgent cause that has not previously been invoked to terminate the employment agreement immediately, or a change in the circumstances of such a nature… Continue reading NETHERLANDS ANTILLES LABOR LAW (VII)

Termination during the trial period The parties to an employment agreement may at the start of their relationship agree to a trial period. The maximum duration of the trial period is two months and does not depend on the length of the employment agreement. During this trial period, either party may terminate the employment agreement… Continue reading NETHERLANDS ANTILLES LABOR LAW (VI)

Termination for urgent cause A party to an employment agreement may be confronted with an urgent situation in which he cannot reasonably be expected to continue the employment. If this situation is caused by the employee, the employer is entitled to terminate the employment agreement without notice and with immediate effect. No DDLA permit is… Continue reading NETHERLANDS ANTILLES LABOR LAW (V)

Termination by mutual consent An employment agreement may be terminated by mutual consent. It is recommended that a termination by mutual consent is confirmed explicitly in a written document signed by both parties. It is essential to ascertain that the employee understood what he was doing and acted freely. Case law shows that the employer… Continue reading NETHERLANDS ANTILLES LABOR LAW (IV)

Notice of termination of an employment agreement for an indefinite period Notice by the employer requires a permit from the the Director of the Directorate of Labor Affairs (“DDLA”; “Directeur van Directie Arbeidszaken”). Until this DDLA permit is obtained, any notice is null and void and does not terminate the employment. In the application for… Continue reading NETHERLANDS ANTILLES LABOR LAW (III)