Published
Sep 4, 2023
Updates:
Sep 16, 2024
Sint Maarten (Dutch part)
Price:
Delivery:
Legal forms:
Payment methods:
2 weeks
LLC, BV, NV
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Sint Maarten (Dutch part)
$
1300
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Registrar
Abbreviation
Phone
St. Maarten Chamber of Commerce and Industry
COCI
+1 (721) 5423590
Location
Capital
Official languages
Population
Currency
ISO 4217
Philipsburg
Sint Maarten
Dutch, English
44,222
ANG
Netherlands Antillean Guilder
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Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Sint Maarten (Dutch part)
Frequently Asked Questions (FAQ) for company formation in Sint Maarten (Dutch part):
Q: What is Sint Maarten (Dutch part)?
A: Sint Maarten (Dutch part) is a constituent country of the Kingdom of the Netherlands located in the Caribbean Sea.
Q: What types of companies can be formed in Sint Maarten?
A: Sint Maarten offers several types of companies that can be formed, including sole proprietorships, partnerships, and limited liability companies (LLCs).
Q: What is a limited liability company (LLC)?
A: A limited liability company (LLC) is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability protection of a corporation.
Q: What are the requirements for forming an LLC in Sint Maarten?
A: To form an LLC in Sint Maarten, you must have at least one director and one shareholder who can be the same person, a registered address in Sint Maarten, and a minimum share capital of ANG 1,000 (approx. USD 560).
Q: What is the process of forming an LLC in Sint Maarten?
A: The process of forming an LLC in Sint Maarten involves the following steps:
1. Reserve a unique name for the company
2. Draft and file the articles of incorporation with the Chamber of Commerce and Industry
3. Obtain a trade license from the Ministry of Tourism, Economic Affairs, Transportation and Telecommunications
4. Register with the Tax Office and obtain a tax number
5. Register with the Social and Health Insurance office and obtain a social security number
Q: What are the ongoing compliance requirements for an LLC in Sint Maarten?
A: Ongoing compliance requirements for an LLC in Sint Maarten include filing annual financial statements, paying taxes, renewing trade licenses, and maintaining accurate records of the company's activities.
Q: Can a foreigner own an LLC in Sint Maarten?
A: Yes, a foreigner can own an LLC in Sint Maarten.
Q: What are the benefits of forming an LLC in Sint Maarten?
A: The benefits of forming an LLC in Sint Maarten include limited liability protection, pass-through taxation, ease of formation, and a favorable tax regime.
Q: What is the corporate tax rate in Sint Maarten?
A: The corporate tax rate in Sint Maarten is 34.5%, but there are several tax incentives available to eligible companies, such as the tax exemption for offshore activities and the reduced tax rate for designated investments.
Q: How long does it take to form an LLC in Sint Maarten?
A: It typically takes 2-4 weeks to form an LLC in Sint Maarten, depending on the complexity of the company's structure and the completeness of the documentation submitted.
"Sint Maarten (Dutch part) is a small island nation located in the Caribbean Sea. It has a population of approximately 40,000 people and a GDP of $1.2 billion. The economy of Sint Maarten is largely dependent on tourism, which accounts for over 80% of the country’s GDP. The tourism industry is supported by the island’s beautiful beaches, vibrant culture, and duty-free shopping. Additionally, the country has a strong financial services sector, which contributes around 10% of the GDP.
The economy of Sint Maarten has been growing steadily in recent years, with a GDP growth rate of 3.2% in 2019. This growth was driven by increased tourism and a strong performance in the financial services sector. The unemployment rate in Sint Maarten is low, at just 4.2%, and the inflation rate is also low, at 1.2%.
Overall, Sint Maarten has a strong and growing economy, with a focus on tourism and financial services. The country has a low unemployment rate and low inflation, making it an attractive destination for investors and tourists alike."
Taxation in Sint Maarten (Dutch part) is governed by the Tax Ordinance of 2010. The country has a territorial tax system, which means that only income earned within Sint Maarten is subject to taxation.
Corporate Taxation:
- Corporate tax rate: The standard corporate tax rate in Sint Maarten is 34.5%. However, businesses in certain sectors, such as tourism and financial services, may be eligible for tax breaks or reduced rates.
- Taxable income: All profits earned within Sint Maarten by a company are subject to taxation.
- Tax returns: Corporate tax returns must be filed within five months after the end of the financial year.
- Tax payment: Corporate tax must be paid in quarterly installments, with the final payment due within six months after the end of the financial year.
Personal Taxation:
- Personal income tax rate: The personal income tax rate ranges from 0% to 52%. The tax rate is progressive, meaning that the more income an individual earns, the higher the tax rate they pay.
- Taxable income: All income earned within Sint Maarten by an individual is subject to taxation.
- Tax returns: Personal income tax returns must be filed annually by April 1st of the following year.
- Tax payment: Personal income tax must be paid in quarterly installments, with the final payment due by December 31st.
Process of tax payment:
Both corporate and personal taxes in Sint Maarten are administered by the Tax Department. Companies and individuals must register with the Tax Department and obtain a tax number. Tax payments can be made at the Tax Department or through online banking.
Calendar for payments:
- Corporate tax payments are due in quarterly installments, with the final payment due within six months after the end of the financial year.
- Personal income tax payments are due in quarterly installments, with the final payment due by December 31st. Personal income tax returns must be filed annually by April 1st of the following year.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
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