THE CURACAO PRIVATE FOUNDATION
A Private Foundation can be used for tax planning and asset protection
The Curacao Private Foundation was introduced by the National Ordinance Regarding Foundations as published on October 31, 1998. Since March 1st, 2004, these rules are laid down in Book 2 of the Curacao Civil Code.
The Private Foundation possesses corporate personality but does not have share capital. The Private Foundation is incorporated by deed executed before a Curacao public notary and is registered in the Register of Foundations at the Curacao Chamber of Commerce.
The object of the Private Foundation may include a number of activities, and is therefore not limited to charitable purposes, provided however that the Private Foundation does not conduct a real business or run an enterprise for profit. As laid down in Book 2 of the Curacao Civil Code, the Private Foundation does not run an enterprise if it is engaged in investment activities or holding activities (within certain limits) or is operating as a silent partner in a limited partnership.
Karel Frielink
Attorney (Lawyer) / Partner
(28 October 2011)
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