THE ANNUAL ACCOUNTS OF A LARGE CURACAO COMPANY

Stricter rules for large companies Under Curacao law the annual accounts of limited liability companies which do not qualify as so called large companies, need to be prepared in accordance with generally accepted standards and shall provide sufficient insight as to enable a sound judgment to be formed regarding the assets and the results and,… Continue reading THE ANNUAL ACCOUNTS OF A LARGE CURACAO COMPANY

SUMMARY PROCEEDINGS IN ARUBA, BONAIRE, CURACAO AND SAINT MAARTEN

Preliminary relief within several weeks, sometimes within days or hours In all matters for which an immediate injunction, measure, or decision is required, the parties may address themselves to the Courts. If the matter does not require immediate resolution, the Court will deny the relief sought and refer the parties to the normal procedure. These… Continue reading SUMMARY PROCEEDINGS IN ARUBA, BONAIRE, CURACAO AND SAINT MAARTEN

TWEE CURACAOSE MEESTERS

Varia Juridica Dit boekje wordt uitgegegeven door Wolf Legal Publishers. Op de website van de uitgever staat: Twee Curacaose Meesters bevat beschouwingen over uiteenlopende onderwerpen van het recht. Tot de Varia Juridica die aan bod komen behoren de geschiedenis en enkele aspecten van de advocatuur, de advocaat als financiële dienstverlener, corporate governance, Blackberryitis en deugdzaam… Continue reading TWEE CURACAOSE MEESTERS

GRANTING DISCHARGE TO MANAGING DIRECTORS

Discharge is not bankruptcy proof The Civil Codes of Curaçao, Sint Maarten and Bonaire do not contain provisions specifically dealing with discharging managing directors from liability. Neither is there conclusive Dutch Caribbean case law available yet. Managing directors of a limited liability company (NV or BV) can be discharged from their liability towards the company.… Continue reading GRANTING DISCHARGE TO MANAGING DIRECTORS

STATE-OWNED ENTERPRISES LACK OF INDEPENDENT SUPERVISION

Independent supervision should be mandatory for government-owned entities It has been my opinion for many years already that government-owned companies should be kept out of the political sphere as much as possible, so that they may benefit from a commercial, businesslike and market-oriented management. In doing so they also run less of a risk of… Continue reading STATE-OWNED ENTERPRISES LACK OF INDEPENDENT SUPERVISION

TRUST SERVICE PROVIDERS IN CURACAO

TSPs are supervised by the Central Bank Many international group structures include one or more Curacao legal entities or partnerships. The main reasons for this are the internationally competitive conditions for business development in the area of corporate law and the tax system in Curacao, as well as the well-developed professional financial services industry. Trust… Continue reading TRUST SERVICE PROVIDERS IN CURACAO

BANKING REGULATIONS IN THE DUTCH CARIBBEAN

Soliciting funds requires a license The Netherlands Antilles was dissolved on October 10, 2010. Prior to that date the Netherlands Antilles consisted of Curacao, St. Maarten, Bonaire, St. Eustatius, and Saba, and formed, together with the Netherlands and Aruba, the Kingdom of the Netherlands. Curacao and St. Maarten have become independent countries within the Kingdom.… Continue reading BANKING REGULATIONS IN THE DUTCH CARIBBEAN

GOVERNMENT OWNED ENTITIES IN CURACAO

Concerns about additional authorities Ministers Attorney Karel Frielink is concerned about the additional authorities which cabinet-members have appropriated over government NV’s. According to Frielink, who is also President of the Bar Association, these extra authorities increase the chance of ‘political influencing, favoritism and other forms of abuse’ within government institutions. In an opinion paper, published… Continue reading GOVERNMENT OWNED ENTITIES IN CURACAO

WHO DETERMINES THE POLICY OF A DUTCH CARIBBEAN COMPANY?

The management board is in charge The shareholders have the authority to determine the general policy of a Dutch Caribbean NV or BV. The shareholders may give instructions to the management board with respect to the general direction of the financial, social, economic and personnel policies of the corporation. However, the shareholders cannot give detailed… Continue reading WHO DETERMINES THE POLICY OF A DUTCH CARIBBEAN COMPANY?

CARIBBEAN KIDS NEWS TA SIGUI!

Watch CKN! Willemstad – Caribbean Kids News, e notisiero pa hóben ku últimamente tabata pasa tur dia na televishonnan lokal ku dos edishon fresku pa siman ta sigui. Den e aña ku ta tras di lomba e fundashon a traha duru pa buska finansiamentu, tantu lokal komo internashonal, pa kubri e presupuesto di e aña… Continue reading CARIBBEAN KIDS NEWS TA SIGUI!

SPACE EXPEDITION CURACAO

Final count down ‘As of January 1, 2014 the long held dream of mankind to enter space and thereby observe our beautiful earth from high above will become reality for the larger public at the beautiful Caribbean Island of Curacao.’ (…) ‘Space Expedition Curacao (SXC) envisions realizing a Commercial Space Line and Space Port on… Continue reading SPACE EXPEDITION CURACAO