The newest trust in (the global) town: the Curacao Trust

As of January 1st, 2012 the legal concept of trust has been codified and introduced in Curacao. As such Curacao is the latest civil code country to adapt the concept of trust in its legal system. With the National Ordinance Trust (“NOT”) other pieces of Curacao legislation, including the relevant tax laws, have been modified … Continue reading The newest trust in (the global) town: the Curacao Trust

Constitutional restructuring of the Dutch Kingdom October 10th, 2010

The Dutch Kingdom was chartered by the Charter of the Dutch Kingdom (“Statuut voor het Koninkrijk der Nederlanden”) of 1954. At that time the Dutch Kingdom was formed by three states i.e. the Netherlands, the Netherlands Antilles and Suriname. In 1975, Suriname chose for its independence and the Charter of the Dutch Kingdom was amended … Continue reading Constitutional restructuring of the Dutch Kingdom October 10th, 2010

The Statute of the Dutch Kingdom, work in progress

The Dutch Kingdom was chartered by the Statute of the Dutch Kingdom (“Statuut voor het Koninkrijk der Nederlanden”) of 1954.  The Dutch Kingdom provides for amongst others for safeguarding fundamental human rights and freedoms, legal securities and good governance; maintenance of independence and the defense of the Kingdom and foreign affairs. At that time the Dutch … Continue reading The Statute of the Dutch Kingdom, work in progress

Reduction of tur-over tax in Aruba effective Janaury 1st, 2010

The draft bill “State Ordinance to amend the State Ordinance Tax on Operating Revenues” has recently been sent to parliament. This bill should enter into force as of January 1, 2010. The Minister of Finance already announced that a resolution (favorable policy) would be issued in case said date would not be possible. This resolution … Continue reading Reduction of tur-over tax in Aruba effective Janaury 1st, 2010

Rijksministerraad stemt in met Rijkswet Gemeenschappelijk Hof van Justitie

De Rijksministerraad heeft ingestemd met een voorstel van Rijkswet dat de organisatie van de rechtspraak regelt voor Curaçao, Aruba, Sint Maarten en voor Bonaire, Sint Eustatius en Saba met ingang van het moment waarop de staatkundige verhoudingen binnen het Koninkrijk zijn gewijzigd (Rijkswet Gemeenschappelijk Hof van Justitie).

Landsverordening Vennootschap met Beperkte Aansprakelijkheid (“VBA”) in Aruba

Met de introductie van de VBA heeft de wetgever een belangrijke stap genomen in de modernisering van het Arubaanse vennootschapsrecht. Deze modernisering werd vanuit de praktijk wenselijk geacht om de aantrekkelijkheid van Aruba voor het internationale bedrijfsleven en investeerders uit binnen- en buitenland

Aruba introduces new corporate entity the Aruba L.L.C.

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.