Money laundering is prohibited Title XXXI of the Penal Code of Curaçao basically prohibits any type of money laundering. The National Ordinance on the Reporting of Unusual Transactions (NORUT) obliges service providers acting in the course of a business or profession, to report unusual transactions. The National Ordinance on Identification of clients when Rendering Services (NOIS)… Continue reading ANTI-MONEY LAUNDERING LAWS IN CURACAO
Tag: st. maarten
IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)
2nd degree director as director of a foreign corporate director It appears from the 2011 ruling referred to by the Supreme Court that Section 2:11 of the Dutch Civil Code is applicable to the joint and several liability of a director of a Dutch legal entity being a director of another Dutch legal entity. The… Continue reading IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (II)
IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (I)
Liability of the 2nd degree director Under Section 2:17 subsection 1 of the Curaçao Civil Code, the liability of a legal entity as a director of another legal entity (the direct or 1st degree director) also rests jointly and severally on each person who at the time this liability arose for the legal entity was… Continue reading IMPACT OF THE LIABILITY TO THE DIRECTOR OF THE DIRECTOR (I)
FRIS EN FRUITIG
Over het verkopen van dorstlessers en advocaten Waarom koopt iemand frisdrank A wel, frisdrank B niet en frisdrank C af en toe? Een kwestie van smaak? Zeker. Een kwestie van prijs? Dat ook. Een kwestie van kwaliteit (en de hoeveelheid of juist het ontbreken van schadelijke ingrediënten)? Niet zelden. Een kwestie van gemoedstoestand? Zal ongetwijfeld… Continue reading FRIS EN FRUITIG
ASSET PROTECTION IN CURACAO
Curaçao: a jurisdiction not to be missed A Curaçao private foundation or a trust is often used for asset protection and privacy purposes. The Curaçao private foundation and the Curaçao trust must be set up by a notarial deed executed before a civil law notary in Curaçao. Both the private foundation and the trust are… Continue reading ASSET PROTECTION IN CURACAO
SERVICE OF PROCESS
A bailiff must be engaged What is the procedure for the service of foreign proceedings under the procedural laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba for a company having its registered address in one of those territories, for instance Curaçao? Under Curaçao procedural law, the service of proceedings on a Curaçao… Continue reading SERVICE OF PROCESS
THE COSTS OF LITIGATION
Parties have to bear their own attorney costs Under the laws of Aruba, Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba, generally speaking, each party has to bear its own attorney costs, except if there is an agreement in place between the parties providing for such compensation. Other costs related to proceedings are for instance… Continue reading THE COSTS OF LITIGATION
THE CURACAO TRUST
Can be used as protected or segregated cell company On 1 January 2012, new legislation entered into force according to which it is now possible to set up a trust (Curacao Trust) similar to the trust in Anglo-Saxon common law jurisdictions. The introduction of the Curacao Trust serves as an important instrument which could be… Continue reading THE CURACAO TRUST
CURACAOSE JONGEREN NAAR TENNISTOERNOOI IN DOMINICAANSE REPUBLIEK
Internationaal JITIC-kampioenschap Vandaag zijn 14 jeugdige tennisspelers voor ruim een week naar Santo Domingo vertrokken om mee te doen aan het regionale JITIC-kampioenschap (Junior International Tennis Championships). Het tennistoernooi vindt plaats van 3 tot 9 augustus 2013. Aan dit internationale tennistoernooi nemen verschillende landen in de regio deel. De host van het toernooi is de… Continue reading CURACAOSE JONGEREN NAAR TENNISTOERNOOI IN DOMINICAANSE REPUBLIEK
DE ADVOCAAT (VIII)
De utopische advocaat Van de ideale advocaat moet een hoge mate van beschaving worden verwacht, alsook een hoge mate van geleerdheid en kundigheid. Een praktische instelling, taalvaardigheid en rhetorische bekwaamheid maken deel uit van de standaardbagage van de utopische advocaat. Hij wordt niet alleen gevreesd, omdat hij vlijmscherp analyseert, van logica gespeende redeneringen doorklieft en… Continue reading DE ADVOCAAT (VIII)
A CURACAO COMPANY WITH NEGATIVE EQUITY AND FINANCIAL SUPPORT
Restrictions for providing financial support to a party acquiring shares in its capital? A company cannot purchase its own shares if it has a negative equity capital or when this equity capital becomes negative by purchasing them, whereby the nominal capital applies as the lower limit (Section 2:114 subsection 2 of the Curaçao Civil Code… Continue reading A CURACAO COMPANY WITH NEGATIVE EQUITY AND FINANCIAL SUPPORT
DE ADVOCAAT (VII)
De advocaat en ethiek De bekende jurist Pitlo (A. Pitlo, Evolutie in het privaatrecht, Groningen: H.D. Tjeenk Willink 1972, p. 102) spreekt ten aanzien van bepaalde advocaten over het ‘half-intellect’ dat zich door geleerddoenerij tegenover de massa staande moet zien te houden. De publicaties die uitermate kritisch zijn over advocaten zijn van alle tijden en… Continue reading DE ADVOCAAT (VII)