Curaçao: Types of Company
NB: The Netherlands Antilles as such ceased to exist in October 2010. This page deals with Curaçao, the largest component of the jurisdiction, which has taken its place in many respects.
On December 29th, 1999, the Parliament of the Netherlands Antilles passed new tax legislation known as The New Fiscal Framework intended to improve the jurisdiction's image as an Offshore Financial Centre and to revitalise its financial services industry. Alongside the tax legislation, a new corporate form was introduced to allow offshore operations on a tax-exempt basis: this is the NABV (Netherlands Antilles Besloten Vennootschap), and it was expected to supplant the offshore NV for many purposes (see Offshore Legal and Tax Regimes and Domestic Corporate Taxation).
The New Fiscal Framework went into effect from 1st January 2002.
In 2004 a new corporate law was introduced as 'Book 2' of the Civil Code which in broad terms simplified and liberalised some aspects of the formation and operation of most of the corporate forms dealt with below, as well as introducing new rules covering corporate governance and dealing with directors' liability.
After the dissolution of the Netherlands Antilles in October, 2010, Curaçao and Sint Maarten adopted all Netherlands Antilles legislation then in place with the instruction that all references to the Netherlands Antilles should be replaced with the word 'Curaçao' until such time as new legislation is drawn up by the newly independent country.