Netherlands Antilles dissolved in October 2010

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The Netherlands Antilles dissolved on October 10, 2010. Prior to that date, the Netherlands Antilles consisted of Curaçao, St. Maarten, Bonaire, St. Eustatius, and Saba, and formed, together with the Netherlands and Aruba, the Kingdom of the Netherlands.

Curaçao and St. Maarten have become independent countries within the Kingdom. They stand on equal footing with the Netherlands and with Aruba, each country with its own set of laws.

Civil, corporate and banking laws of Curaçao and St. Maarten are substantially the same as Netherlands Antilles’ law before the dissolution. The dissolution of the Netherlands Antilles does not negatively affect the legal status of companies in the Netherlands Antilles. Companies seated in Curaçao are now governed by Curaçao law, and companies seated in St. Maarten are now governed by St. Maarten law. Licenses and exemptions granted by Netherlands Antilles’ authorities, including the Central Bank of the Netherlands Antilles, remain valid in Curaçao and St. Maarten. Treaties that were applicable to the Netherlands Antilles are now applicable to Curaçao and St. Maarten as legal successors to the Netherlands Antilles.

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Published In: General Business Updates, Finance & Banking Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Helena Sprenger | Attorney Advertising

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