INVESTMENT INSTITUTIONS AND ADMINISTRATORS UNDER NETHERLANDS ANTILLES LAW
It is a punishable offense to raise money without a license
The National Ordinance on the Supervision of Investment Institutions and Administrators 2002 (‘Landsverordening toezicht beleggingsinstellingen en administrateurs’) provides for a licensing system for investment institutions and administrators. The general prohibition is:
“It is a punishable offence to raise or obtain pecuniary means or other property for purposes of participating in an investment institution which has not been licensed by the Central Bank or to offer participating interests in such an investment institution in or from the Netherlands Antilles.”
For the purposes of granting a license, the Ordinance distinguishes between:
– investment institutions with their registered office in the Netherlands Antilles and
– investment institutions with their registered office outside the Netherlands Antilles.
Both the investment institutions should apply for a license. Without a license they are not allowed to obtain moneys for collective investment. To obtain a license the applicant should demonstrate that the investment institution and any custodian employed by it satisfy a number of requirements.
Karel Frielink
Attorney (Lawyer) / Partner
