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Stichting is a word meaning (foundation)
A stichting is constituted under the Civil Code; the main characteristics of the stichting are as follows:
- A stichting must be entered in the commercial register of the Chamber of Commerce.
- There is no minimum capital requirement (but in practice it is usual to have US$100 as capital).
- A stichting does not have members or shareholders
- A stichting is managed by one or more directors who do not share in the profits or assets and who can be individuals or corporations; at least one director must be resident in the Netherlands Antilles.
- Books of accounts must be kept but do not require auditing.
- The identity of beneficiaries or holders of certificates of participation need not be disclosed.
- A stichting may transfer its seat into and out of the Netherlands Antilles provided that the other jurisdiction concerned has suitable legislation (in practice this means that the other jurisdiction is a civil code jurisdiction, which is somewhat limiting since the bulk of offshore jurisdictions apply common law).
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