Yesterday, November 11th, 2008, the Parliament of Aruba unanimously voted for the approval of the introduction of a new corporate entity in Aruba, the L.L.C. limited liability corporation or the V.B.A., Vennootschap met Beperkte Aansprakelijkheid. With this introduction the legislator has modernized the corporate laws of Aruba in many aspects. From a civil perspective, mergers, divisions and conversion are now possible under Aruba law. This legislation also allows for the formation of LLP’s, shareholder managed corporations and the option to introduce the 1-tier board concept in Aruba. From a fiscal perspective the LLC can choose from 4 or 5 different regimes and have the option to switch fiscal regimes from time-to-time, providing certain requirements are met.
My latest book “Series Arubaanse wetgeving, Ondernemingsrecht: De Vennootschap met Beperkte Aansprakelijkheid.”, consist of the complete text of the new legislation annotated with key words, allowing the reader to navigate easier through the text. The book is will be available soon through local bookstores and online stores like www.amazon.com. To reserve a copy add a comment to this blog.