THE PRIVATE FOUNDATION
A vehicle for asset protection
A regular foundation under the laws of Curaçao and St. Maarten may only make distributions for charitable (philanthropic) or social purposes and may not make distributions to the incorporator/founder or members of its board. The Stichting Particulier Fonds (SPF), or Private Foundation, is a legal entity and in particular a special form of foundation, which is not subject to this so-called legal ban on certain distributions.
The Private Foundation is frequently used in the context of asset protection as well as for tax and inheritance planning. A common construction is one in which the instigator/principal …
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THE DUTCH CARIBBEAN PRIVATE FOUNDATION AND ITS SUPERVISORY DIRECTORS
Only natural persons may be appointed
The articles of incorporation of a Private Foundation (PF) may provide, if so desired, that the authority of the board to make distributions is subject to the consent of the founder, a Supervisory Board or another body established within the PF e.g. an Advisory Board.
It should be noted that a corporate body that is not designated as a Supervisory Board but that has the characteristics of a Supervisory Board may qualify as such under Netherlands Antilles law. If this is the case, the following is applicable:
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