SUPERVISION OF BROKERS AND ASSET MANAGERS IN CURACAO
New Ordinance will enter into force in 2017
In the course of 2017, the Curaçao ‘Landsverordening toezicht effectenbemiddelaars en vermogensbeheerders’ (National Ordinance on the supervision of securities brokers and asset managers) will come into force.
The primary aim of the new Ordinance is to introduce a supervisory regime for brokers in the securities business and for managers of assets, in order to raise the operation of the capital markets and other financial markets in Curaçao to the next level, as well as to further protect the position of existing and potential investors in these markets against risks. This objective is …
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LIBERALIZATION IN THE DUTCH CARIBBEAN
Telecom first, airlines to follow suit
The government of the Netherlands Antilles has been in favor of liberalizing the telecommunication market for may years now. Liberalization of the telecom market means opening it up to domestic and foreign competition, subject to certain regulatory principles.
Basically, liberalization means competition; competition means price levels determined by the market, not by a monopoly. This will benefit the consumers. In a free market telecom companies will, in principle, also be more innovative, more service-minded, offering a better and wider range of services, including service packages, for example, in an attempt to keep their customers …
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THE STRUCTURE OF A DUTCH CARIBBEAN FUND
It is easy and inexpensive to set up a SPV (Special Purpose Vehicle)
From a legal point of view, establishing a fund in Curaçao is very attractive under the corporate law in force since March 1, 2004, whereby a private limited liability company (besloten vennootschap) can be established very quickly and flexibly. Virtually everything is possible with this new legal entity. There is no minimum issued share capital requirement. Incorporation may be done within a day does not require any prior governmental approval. It is possible to split voting rights and dividend rights. There is no statutory requirement to have …
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