Country Manuals Independent Portfolio Manager/Advisor (EAM)
ARUBA OUT OF COMPANY’S COUNTRY OF ESTABLISHMENT (Def, RS & BT)
Regulatory Summary
Material changes
The Manual has been reviewed to ensure that its content remains accurate and in accordance with an evolving interpretation of the legal and regulatory framework. While the legal framework as such has not been significantly amended since the last update, our local experts have suggested to adapt certain approaches on the basis of an evolving interpretation of the regulatory framework:
– Engaging in pre-contractual activities in or into/from Aruba triggers licensing requirements for the Company. However, reverse solicitation is recognised in Aruban Investment Services Law, therefore, upon the prospect’s sole request, a foreign company may both during occasional onsite visits in Aruba or via remote means of communication into Aruba, undertake pre-contractual activities.
Non-material changes
The RS and BT have been reformatted onto the latest template. Some comments have been reworded, additional references to applicable law/regulation have been made in order to provide more clarity and to reflect the current regulatory situation more accurately. Further non-material changes have been made throughout the documents.
Behaviour Template
There are no changes.
BT Short Comparison
BRP has created a comparison document allowing users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM EAM BT SHORT COMP” and “ARUBA” in the Target Country Field.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
Best regards,