Corporation (NV)

The "Naamloze Vennootschap", abbreviated NV, is a Corporation, according to Aruban law. A corporation is an independent legal entity owned by shareholders. This means that the corporation itself, not the shareholders that own it, is held legally liable for the actions and debts the business incurs.

Corporations are more complex than other business structures because they tend to have costly administrative fees and complex tax and legal requirements. Because of these issues, corporations are generally suggested for established, larger companies with multiple employees.

It is incorporated by a civil notary who provides the deed of incorporation. At least two founders, whether natural persons or entities are needed to incorporate a NV. The authorized capital is distributed in shares.

The shareholders have limited liability. There is no legal requirement as to the nationality or residency of the shareholders. The NV is legally required to be registered in the Trade Registry at the Aruba Chamber and to apply for a business license at the Department of Economic Affairs.

For additional information on business license application for a Corporation, contact the Helpdesk (582-1181 ext. 250) at the Department of Economic Affairs, Commerce and Industry.

Source: Chamber of Commerce and Industry Aruba.

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