Netherlands Antilles Private Foundation Checklist

• Why do I need a Private Foundation?

• To make provisions for the future and to protect my assets.
• To avoid heavy taxation in my country of origin.

• Why a Private Foundation in the Netherlands Antilles?

• Because it does not have to be used for charitable purposes. You can freely choose the beneficiaries.
• Because it is tax-free.
• Because confidentiality is fully guaranteed.
• Because costs, expenses and fees are very low.

• Is it legal or could I have problems in my country of origin?

• It is completely legal since the Netherlands Antilles have signed international agreements, are controlled by the Kingdom of the Netherlands and are not under suspicion for being a “oney laundering country. Furthermore, your country of origin is not allowed to interfere in any way.

• Is it not risky to give away the ownership of my assets and estates?

• Absolutely not. You will become the beneficiary and you can always control and supervise the board of directors. However, you will ultimately have to decide on the purpose of your assets and estates, and this even after your death.

• Is there any disadvantage?

• Not really. A PF in the NA is not allowed to conduct a business for profit, but asset management is not considered a business. The foundation can invest in whatever you want.

• What is the legal status of a PF in the Netherlands Antilles?

• It is a separate legal entity under private law. It can be seen as civil law equivalent to an Anglo-American trust. It has no shareholders or members. It is subjected to NA civil laws and the highest court is in The Hague.

• How long does it take to create a PF?

• A few days.

• What do the articles of the foundation have to contain? What will be registered?

• Neither the name of the founder - only a trust - nor those of the beneficiaries.
• They need to state that it is a Private Foundation the siege, duration and purpose. In no case should they mention any intention of doing business.

• How many board members does the foundation need?

• Only one.

• Can creditors or heirs appeal against the foundation’s provisions?

• No.

• Do bookkeeping, annual return and financial status have to be filed/registered?

• No.

• What is the minimum capital required?

• 6,000 USD. It does not have to be transferred immediately to the foundation.

• Do I have to pay annual fees?

• Yes, 40 USD.