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… Continue reading THE PRIVATE FOUNDATION
Tag: trust office
DE ZORGPLICHT VAN PROFESSIONELE PARTIJEN
Naleving van de zorgplicht is een vorm van risicobeheersing Google het woord ‘zorgplicht’ en constateer dat je dit begrip in relatie tot uiteenlopende onderwerpen tegenkomt: sport, kinderopvang, leerlingen, cliënten, werknemers, gevangenen, afvalwaterzorg, krijgsgevangenen, hemelwaterzorg, huurauto’s, grondwaterzorg, bancaire en financiële dienstverlening, enz. enz. enz. Ons recht is met de zorgplicht doordrenkt. Dat is niet iets van… Continue reading DE ZORGPLICHT VAN PROFESSIONELE PARTIJEN
DIRECTORS’ LIABILITY REVISITED
People keep asking questions about this topic Generally, in Curaçao (as well as in Aruba, St. Maarten and the BES islands) liability may arise in the event a managing director is found to be seriously negligent (‘hem een ernstig verwijt kan worden gemaakt’) in fulfilling his tasks as member of the management board of a… Continue reading DIRECTORS’ LIABILITY REVISITED
THE FORMATION OF A PRIVATE FOUNDATION IN THE DUTCH CARIBBEAN
Formation requires a notarial deed A Private Foundation (PF) is formed by a notarial instrument executed by a Netherlands Antilles civil law notary and registered in the Register of Foundations at the Chamber of Commerce. The articles of incorporation of the PF includes the name of the PF and the word PF (or a translation… Continue reading THE FORMATION OF A PRIVATE FOUNDATION IN THE DUTCH CARIBBEAN
THE DUTCH SUPERVISION ON TRUST COMPANIES (IV)
Identity of ultimate beneficiary must be known According to the Order on Sound Operational Management (the Order)(‘Regeling integere bedrijfsvoering Wet toezicht trustkantoren’) pursuant to the ASTO, a trust office shall know the identity of the ultimate beneficial owner (‘UBO’) of an object company and keep the evidence used to determine who qualifies as the ultimate… Continue reading THE DUTCH SUPERVISION ON TRUST COMPANIES (IV)
THE DUTCH SUPERVISION ON TRUST COMPANIES (I)
The Dutch Central Bank is the supervisor The Dutch Act on the Supervision of Trust Offices (‘ASTO’) (‘Wet toezicht trustkantoren’) entered into force on the 1st of March 2004. According to the legislative history, the Explanatory Notes to the Act, the aim of the ASTO is to promote the integrity of the financial system by… Continue reading THE DUTCH SUPERVISION ON TRUST COMPANIES (I)