Corporate Law at Aruba (Netherlands)
Here’s an overview of Corporate Law in Aruba (Netherlands):
Corporate Law in Aruba: Overview
Aruba is a constituent country within the Kingdom of the Netherlands and has its own legal system, including corporate law, which is distinct but influenced by Dutch law.
Key Features of Corporate Law in Aruba
Legal Framework:
Aruba’s corporate law is primarily governed by the Aruban Civil Code (Burgerlijk Wetboek), especially Book 2 which deals with companies and legal entities.
Additional specific laws include the Aruban Commercial Code and laws regulating financial and corporate sectors.
Types of Companies:
The most common business entities in Aruba include:
Naamloze Vennootschap (N.V.) — Public limited liability company.
Besloten Vennootschap (B.V.) — Private limited liability company.
Partnerships — Various forms such as general partnerships and limited partnerships.
Incorporation Requirements:
Companies must be registered with the Aruba Chamber of Commerce and Industry.
Articles of incorporation must be drafted and notarized.
Minimum capital requirements may apply, depending on the type of company.
Corporate Governance:
The governance structure typically includes a board of directors responsible for management.
Shareholder meetings and resolutions govern major decisions.
There are provisions on directors’ duties, shareholder rights, and reporting.
Regulation and Compliance:
Companies must comply with annual reporting and filing obligations.
Financial statements may require audit depending on size and type.
There are specific rules for banks, insurance companies, and financial service providers.
Foreign Investment:
Aruba welcomes foreign investors; certain sectors may require licenses or approvals.
There are no general restrictions on foreign ownership.
Summary Table
| Aspect | Details |
|---|---|
| Governing Law | Aruban Civil Code (Burgerlijk Wetboek), Commercial Code |
| Common Company Types | N.V. (public limited), B.V. (private limited), partnerships |
| Registration Body | Aruba Chamber of Commerce and Industry |
| Governance | Board of directors, shareholder meetings |
| Reporting | Annual financial statements, possible audits |
| Foreign Investment | Allowed; licensing in certain sectors |
Additional Notes
Aruba’s corporate law system is influenced by Dutch law but adapted to local needs.
The jurisdiction offers a stable, investor-friendly environment with a well-regulated business framework.
Legal advice is recommended for setting up complex corporate structures or financial entities.
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