Corporations ("NV's") in Aruba
A corporation is a limited liability company, the capital of which is divided into shares; also to be named "N.V." hereinafter.
Particulars:
- The "N.V." has to be established by at least two (2) founders.
- The minimum authorized capital amounts to Afl. 50,000.--, 20% of which has to be issued and paid up in full.
- Shares without voting rights are not permitted.
- The shareholders are not liable for what is performed in the name of the corporation.
- The name of the corporation has to be approved by the High Commissioner.
- A certificate of no objection of the Minister of Justice is required on the deed of incorporation and the deed of amendment to the Articles of Incorporation.
- Establishment and amendment to the Articles of Incorporation are effected by notarial deed executed before a civil law notary resident in Aruba.
- The "N.V." must have 1 or more Managing Directors.
- It is possible to inaugurate a Board of Supervisory Directors.
- It is prohibited to conduct a business without a license pursuant to the Business Licensing Ordinance (business license).
- A Director's license is required for each Managing Director, unless the Managing Director is a Netherlands citizen born in Aruba, older than 21 years of age.
- Depending on the activities of the "N.V." or other circumstances, other kinds of licenses can be required.
Aforementioned text is a brief survey and cannot be considered a legal opinion or advice in any other field. Although the utmost care has been observed with regard to the content, notary's office Yarzagaray Bödeker & Partners does not accept any liability on account of incompleteness or inaccuracy or the consequences hereof. We advise you to seek competent legal, fiscal, and financial advice before taking any action with regard to the above.