The small Caribbean island of Bonaire is renowned for its natural splendor, rich cultural diversity, and expanding economy. For companies wishing to grow in the Caribbean, the island has grown to be a desirable site. In this manual, we’ll go through the procedures involved in setting up a business in Bonaire, as well as the regulations and organizations you need to get in touch with.
Step 1: Choose a business entity
The first stage in creating a company is deciding what sort of business organization you want to launch. The most common types of business entities in the country are private limited liability companies (BV), partnerships, and sole traders. A BV is the most typical kind of business structure since it provides stockholders with little liability protection.
Step 2: Choose a business name
The next step is to select a corporate name for your enterprise. The name must be original and not taken in Bonaire. It is crucial to check the register to confirm that the name you have selected is accessible since the Chamber of Commerce keeps a registry of all firms that have been registered there.
Step 3: Obtain a tax identification number
All firms in the nation receive tax identification numbers (TINs) from the tax department. A utility bill and a passport or driver’s license are acceptable forms of identity and address verification needed by the company to obtain a TIN.
Step 4: Obtain a business license
In Bonaire, several types of enterprises need a license to operate. The kind of licenses needed may vary depending on the sort of business. Businesses that sell alcohol or tobacco, for instance, must get a license from the Public Entity of Bonaire.
Step 5: Draft and file articles of association
The company’s foundation, rules, and laws are outlined in the articles of association. It is required that the articles of the organization be written in Dutch and submitted to the Chamber of Commerce. The name, goals, duration, share capital, and executive framework for the organization must all be specified in the articles of association.
Step 6: Register with the chamber of commerce
All enterprises are obliged to join the Chamber of Commerce. The Chamber of Commerce maintains a record of all businesses that are officially registered there. In order to file paperwork with the Chamber of Commerce, the company must provide its articles of organization, proof of the owners’ and executives’ identities, and verification of their residences.
Step 7: Register with the social security bank
In Bonaire, all businesses are required to register with the Social Security Bank. The management of social security and health insurance contributions is within the purview of the Social Security Bank. The business has to submit its TIN and articles of association in order to register with the Social Security Bank.
Requirements for company registration in Bonaire
All shareholders and directors must present identification, such as a passport or driver’s license, as verification of their identities.
Proof of address
All shareholders and directors must provide proof of address, such as a utility bill.
Articles of association
The articles of association must be drafted in Dutch and must include the company’s name, purpose, duration, share capital, and management structure.
TIN
All companies must obtain a tax identification number (TIN) from the Tax Department.
Authorities to contact
The following are the authorities or government agencies
Chamber of commerce
The Chamber of Commerce is responsible for maintaining a register of all registered companies in the country.
Tax department
The Tax Department is responsible for issuing tax identification numbers (TIN) to companies.
Public entity of Bonaire
The Public Entity of Bonaire is responsible for issuing licenses for certain types of businesses.
Social security bank
The Social Security Bank is responsible for the administration of social security and health insurance contributions.
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