It emerged last week that Curacao has, for the second year in a row, been named the top location for hedge fund administration in a recent survey.
State Secretary of Finance of the Netherlands Antilles, Alex Rosaria, on Friday congratulated the Curacao international financial services industry on its placing in this year's Global Custodian Hedge Fund Administration Survey.
He observed that:
“That’s something to be proud of -- and we are -- but we are not complacent about our achievements."
And concluded:
"In order to deliver on our promise of a trustworthy international financial center, we have to continue to differentiate ourselves based on our traditional strengths: our sound economic and financial fundamentals, skilled, educated and multilingual workforce.”
The Netherlands Antilles, due to its location, is often chosen for funds with a South American distribution bias. Its other particular advantages stem from its close connection with the Netherlands, and its civil law legislative environment.
As a base for investment funds, a civil law jurisdiction arguably has some legal advantages over a common law jurisdiction, since less demanding levels of fiduciary duty are required of directors; and derivative shareholder lawsuits are not possible in the Netherlands Antilles.
The jurisdiction's financial sector is also home to a number of leading international banks and audit firms.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.aspTags: Curaçao
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