Aruba Exempt Corporation
An Aruba Exempt Corporation is a corporation with limited liability, the capital of which is divided into shares; also to be named "A.V.V." hereinafter.
Particulars:
1. The "A.V.V." can be established by one (1) founder.
2. The minimum authorized capital amounts to Afl. 10,000.--, at least one (1) share of which with full voting rights has to be placed with third parties at all times.
3. Shares without or with limited voting rights can be issued.
4. The shareholders are not liable for what is performed in the name of the corporation.
5. The name of the corporation has to be approved by the High Commissioner.
6. 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.
7. Establishment and amendment to the Articles of Incorporation are effected by notarial deed executed before a civil law notary resident in Aruba.
8. The "A.V.V." must have one (1) or more Managing Directors.
9. The "A.V.V." is obligated to have a legal representative in Aruba. A legal representative can only be a corporation with a special license to establish a business ("trust license").
10. It is possible to inaugurate a Board of Supervisory Directors.
11. Depending on the activities or other circumstances, 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.