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Convention 10-10-'11 A year after and ahead...
Exactly one year after the dismantling of the Netherlands Antilles, VanEps Kunneman VanDoorne organized the convention “10-10-'11,A year after and ahead...” together with the Amsterdam law firm Van Doorne. The speakers of VanEps Kunneman VanDoorne, KPMG Meijburg (Dutch Caribbean) and Van Doorne discussed the latest developments in investment opportunities, structures and taxes in the new jurisdictions.
The convention was held in Amsterdam in the auditorium of Van Doorne, and opened by the managing partner of Van Doorne, Thijs Clement. In his word of welcome, he mentioned, inter alia, that the new countries have to undergo a certain development as yet in the governance culture, and that the new countries themselves are primarily responsible for it.
Focco Lunsingh-Scheurleer, partner with VanEps Kunneman VanDoorne in Curaçao, spoke about the introduction of a regulation by which the Court can order an inquiry in case of possible mismanagement in a company and intervene. Under the title “right to institute an inquiry, at last or last?” he discussed the question whether there is a need for this regulation or whether serious objections are attached to it. He argued that introduction of the right to institute an inquiry is indeed desirable, but given the experiences with the system in the Netherlands and developments there, there are points that should be inserted in the regulation in the future. Inter alia an amendment to law of legal entities, the inquiry regulation is part of, is now debated in Parliament in Curaçao. The introduction is expected in 2012.
Reagan Celestijn, lawyer with VanEps Kunneman VanDoorne in Bonaire, introduced approximately 75 guests mainly working in the Dutch trust sector, legal profession, and fiscal sector to the Dutch Caribbean Stock Exchange (DCSX). The DCSX meanwhile has 11 listings. Celestijn also set out the changing legislation in the BES Islands and the attraction hereof to be expected on investors.
Jan Willem Schenk, notary with Van Doorne, brought back to life the “SPF” (Foundation Private Fund) with his lecture “SPF in the BES Islands: new style asset protection!”. By using a combination of Book 2 Civil Code (BES Islands), Book 2 Civil Code (Netherlands) and tax legislation, a new form of asset protection is created that can be very interesting to the South-American market, inter alia.
Rob Truijens of KPMG Meijburg (Dutch Caribbean) concluded with the latest fiscal developments in Curaçao in an international perspective, highlighting some fiscal structures through Curaçao.
Finally, Robert van Beemen, lawyer with the Dutch Caribbean Desk of VanEps Kunneman VanDoorne in Amsterdam, invited the Ministers Plenipotentiary of Aruba, Mr. Edwin Abath, St. Maarten, Mr. Mathias Voges, and the Substitute Minister Plenipotentiary of Curaçao, Mr. Humphrey Senior, for a panel discussion. Mr. Abath extensively discussed the cooperation within the Kingdom, giving concrete examples of cooperation between Aruba and the Aruban business community and the Dutch Gas Company and Schiphol Airport. The Minister Plenipotentiary of St. Maarten mentioned the hub function of St. Maarten to the north-eastern Caribbean islands as one of the focal points of the economic policy of St. Maarten.
The afternoon was concluded with a Caribbean reception where the guests could enjoy cold Polar beer and Caribbean snacks.