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On 1 November 1998 the Netherlands Antilles introduced the legal concept of the Private Foundation. The Netherlands Antilles Private Foundation can be seen as an alternative to the Anglo Saxon Trust and the Liechtenstein Stiftung and is based on civil law. It is a flexible instrument in many respects and control can be held by the ultimate beneficiary by appointment of a supervisory board or a letter of wishes between the management and beneficiary. It is established by a notarial deed in the Netherlands Antilles and the deed of formation contains the Articles of Association.
The Private Foundation is not subject to tax in the Netherlands
Antilles.
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