The Netherlands Antilles is a group of five islands situated through the Leeward and Windward chains of the Caribbean. The total land area is 960 sq. km and the population of the Netherlands Antilles is approximately 200,000, a large portion of which resides on the Island of Curacao. Dutch is the official language.However, English and Spanish are spoken widely.
The anchor of country economy are tourism, petroleum transshipment and oil refinement, as well as offshore finance. The islands enjoy a high per capita income and a well-developed infrastructure as compared with other countries in the region. Almost all consumer and capital goods are imported. The major suppliers are: Venezuela, the US, and Mexico, as well as the Dutch government.
There are about 70 banks and more than 50 of them international. Currency of the country is The Netherlands Antilles Florin or Guilder. It has a fixed exchange rate with the United States dollar of 1.79:1.
The government has introduced new tax legislation, known as the New Fiscal Regime (NFR), with effect from 1 January 2002. One of the most important features of the NFR is that it re-emphasizes that dividends collected in Dutch companies can still flow to the Netherlands Antilles. The new legislation has introduced an 5% dividend withholding tax,applied to dividends paid by a Dutch company to a Netherlands Antilles company, where the latter has the minimum participation level set out above.
The formation process for an offshore N.V. follows the normal pattern. Once incorporated, a company needs to obtain a business license and a managing director’s license need to be obtained annually from the Bureau for Social and Economic Planning. In order to qualify for a business license and a foreign exchange exemption, the Netherlands Antilles company should have at least one local managing director or a local representative. If a board member or local representative is appointed to replace a current official, a new business license and exemption should be applied for.
Registered office is required and must be maintained in the Netherlands Antilles at the address of a licensed trust and management company, a law firm or accountancy firm. Registered agent is also required.
A registered office must always be maintained at the address of a licensed management company, or firm of lawyers or accountants in the jurisdiction. There is no requirement to audit or file annual statements. An small annual fee is payable to the Chamber of Commerce.
Act-offshore provides shareholder requirements, the minimum capital requirements for Netherlands company formation, along with the legal form, naming requirements, documentation required and director and secretary requirements.