The "Vennootschap met Beperkte Aansprakelijkheid" (VBA) is a Limited Liability Company and is considered a flexible and modern legal entity because its incorporator(s) can choose to keep the VBA as simple or as complex as deemed necessary. The incorporation of a VBA is generally the same as the Corporation (NV). The VBA requires at least one incorporator for establishment, with no minimum capital and is incorporated by a Civil Notary, who provides the Deed of Incorporation. The deed may be executed in the languages Papiamento, Dutch or English. After incorporation, the notary will register the VBA in the Trade Registry at the Aruba Chamber. Then it is necessary to apply for the VBA business license at the Department of Economic Affairs.
The VBA must be represented by at least one managing director at all times. At least one of the directors or the legal representative must be a resident of Aruba. Authorizations and restrictions are stated in the articles of incorporation or rules and regulations. The managing directors are responsible for complying with obligations towards the Chamber.
For additional information on business license application for a Limited Liability Company (VBA), contact the Helpdesk (582-1181 ext. 250) at the Department of Economic Affairs, Commerce and Industry.
Source: Chamber of Commerce and Industry Aruba.