PHILIPSBURG — Business owners across St. Maarten are raising eyebrows — and questions — following a recent directive from the St. Maarten Chamber of Commerce & Industry (COCI) requiring the disclosure of Ultimate Beneficial Owners (UBOs) of all registered companies. In an official flyer distributed by COCI, businesses are instructed to pick up sealed UBO declaration packages, complete the documents, and return them — sealed — to the Chamber or submit them via its online portal. Failure to comply, although unspecified, appears to imply administrative consequences. But while the Chamber is moving full steam ahead, one critical question remains unanswered:…
Author: The Publisher
By Terrance Rey | StMaartenNews.com A tragic incident has shaken the construction community in St. Maarten. A well-known local carpenter lost his life after a fall at a construction site in Indigo Bay on Monday. The circumstances surrounding the accident remain unclear, and investigations are still ongoing. But amid the speculation and sorrow, one sobering reality demands our attention: the silent, underestimated danger of working under extreme heat. Multiple sources have indicated that the incident occurred at the Infinity construction site, a reputable development of two-story homes. By all accounts, the general contractor has a solid reputation and follows professional…
Philipsburg, St. Maarten – Several local business owners have found their bank accounts suddenly frozen in recent days as banks enforce the United States’ Foreign Account Tax Compliance Act (FATCA). Companies with no U.S. ties have been swept up in the compliance dragnet, leaving many scrambling to restore access to funds. Bank officials claim customers were warned to submit mandatory tax residency forms, but frustrated entrepreneurs say no such notice ever reached them, slamming the situation as heavy-handed and “bureaucratic overreach.” FATCA: International Tax Law Reaches St. Maarten FATCA is a U.S. law enacted in 2010 aimed at combating offshore tax…
By Tom Clifford in Beijing Welcome to the Bunker, a game show for the whole family. This episode is brought to you by White House Productions, a subsidiary of Trump TV. The rules are simple: three contestants will compete to provide answers that best match, or get closest to, what the occupant of the White House means when he discusses policies. The top prize? Two glorious weeks in the US dodging immigration officials. The second prize? Three glorious weeks climbing the Wall. Contestants, fingers on buzzers, please … First question: Trump was elected promising no foreign military engagements. Is dropping…
By MP Ardwell Irion As your representative in Parliament, let’s take a deeper look at a critical economic issue facing our island: the proposed 10% dividend withholding tax, slated for implementation on January 1, 2026. While the stated intention might be to broaden our tax base, a closer examination reveals that this measure, as it stands, poses significant risks to our fragile economy, particularly for our local businesses and our long-term competitiveness. We are a Small Island Developing State (SIDS), inherently vulnerable due to our small size, and reliance on a narrow economic base, predominantly tourism. Our limited capital markets…
~ Various incidents seem to indicate troubling times ahead ~ By Tom Clifford in Beijing Iran attacked for the second time in 45 years by a neighboring country’s armed forces. In September 1980, just after Eid, Saddam launched an invasion by the Iraqi army hoping to take advantage of Iran’s lack of spare parts and crucial components after the fall of the Shah. Eight years later, the guns fell silent. Now attack and defense missiles slash the night sky above Teheran and Tel Aviv. Israel is trying to capitalize on what it perceived as Iran’s weakness with Hamas and Hezbollah…
SIMPSON BAY, SINT MAARTEN – [June 2025] – Commodore Suites Boutique Hotel is proud to unveil a dynamic art showcase featuring the works of local artist Tess Verheij, bringing an exciting splash of color and creativity to its lobby and guest rooms this summer. Originally from the Netherlands, Verheij has called Sint Maarten home since 2009. With a passion for painting and teaching art, she has become a vibrant part of the island’s creative community. Over the past four years, her signature style has emerged through the use of rainbow-inspired color palettes and unique mediums such as Vitrail (glass paint),…
By Hilbert Haar I always thought that bookkeeping was rather simple. You spend money, you book it as expenditures. You receive money, you book it as income or revenue. The difference between expenditures and revenue is one of two things: a surplus or a deficit. If you want a deficit to look like a surplus you would have to cook the books. St. Maarten became an autonomous country within the Dutch kingdom on October 10, 2010. It is maybe good to remember that on that occasion the Netherlands took care of the mountain of debts the now former Netherlands Antilles…
PHILIPSBURG –– St. Maarten has submitted its fourth execution report for 2024 to financial supervisor Cft, reporting a surplus for the year of 700,000 Caribbean guilders ($391.000). While the Cft considers this a positive sign, it does not entirely trust the numbers and it has asked Finance Minister Marinka Gumbs to provide additional information. In a letter dated June 4, Cft president Lidewijde Ongering states that St. Maarten has submitted its fourth quarter report on May 21, three months after the legal deadline of February 11, 2025. Another problem is that explanations are insufficient or completely lacking. Ongering furthermore mentions…
PHILIPSBURG –– The Dutch government makes 200 million euro ($232 million) available for the slavery fund. Half of this money is earmarked for projects that contribute to awareness, healing and tackling the consequences suffered by the descendants of slaves. The other half is for policy impulses; government organizations can submit proposals for this part of the fund. The Caribbean parts of the Kingdom are scheduled to submit their action list for this purpose om July 1, the date slavery was abolished in 1863. The conditions to qualify for subsidies will be announced on the same date. The $116 million available…
