~ The Leeward Islands Geothermal and Digital Interconnexion Hub Project and it’s benefits to Country Sint Maarten/St Martin ~ From our French-side correspondentMARIGOT — The Geothermal and Digital Interconnexion Hub Project for Leeward Islands is a project that is co-finance by the European funding agency Interreg Caraibes. As of 2022, the project is in the pre-feasibility stage with a total available budget of 2.9 million euros to be used before December 2023. The pre-feasibility stage examines the potential for geothermal energy within the Leeward Islands and an inter-island digital network public partnership. “Thus far, the heads of governments of Sint…
Author: The Publisher
By Hilbert Haar The Financial Action Task Force aims to inspire countries to take adequate measures against money laundering and the financing of terrorism. In March 2022 the organization updated its recommendations. Countries that fail to satisfy the FATF run the risk of being blacklisted to the detriment of their economy. One of the key recommendations comes down to this: know your customer. Banks are asked to do their due diligence when entering into a new business relationship, but they are also advised to examine the credentials of existing customers. The FATF due diligence recommendation contains these steps: identify your…
PHILIPSBURG — Today, Thursday, August 11th, 2022, the Honorable Member of Parliament (MP) Ludmila de Weever met with representatives from Royal Caribbean Group (RCG), namely Vice President of Destination Development Joshua Carroll and Manager of Destination Development Mario Egües during their recent visit to St. Maarten. MP de Weever was delighted to catch up with the team that helped bring the home porting project with Celebrity Cruise Lines to fruition during her tenure in office as Minister of Tourism, Economic Affairs, Transport and Telecommunication (TEATT). The RCG team was on the island to continue discussions with members of the Council…
Dear Sir/Madam, With regards to your Corporate Governance Supervisory Board Member Traineeship advertisement, I find that your requirements are highly discriminatory. You have excluded members of our territory by age. You are assuming that folks between the ages 18 to 25 and above 40 are not qualified because of your ignorance in determining one’s capacity to follow your course. Those folks are called upon to vote and elect members for parliament, but now they are excluded and discriminated in participating in a course initiated by a government department. Even your requirements falls outside the norms. I have…
Republic Bank pledges a more proactive approach in the future. PHILIPSBURG, Sint Maarten— The Ministry of Finance was recently the recipient of a courtesy visit from the General Managing Director of Republic Bank Sint Maarten, Sterl Lyons and the Republic Bank (EC) Limited Managing Director Mrs. Michelle Palmer-Keizer. The Directors sat with Minister of Finance, Ardwell Irion to discuss the recently launched, “Power to Make A Difference” (PMAD), Republic Bank’s approach to corporate social responsibility designed to transform communities and enable sustainable futures. Republic Financial Holdings Limited (RFHL) is signed to the United Nations Principles for Responsible Banking – a…
By Hilbert Haar The jungle of rules facing foreign entrepreneurs in St. Maarten has a long history. The fear of a European invasion after the Second World War inspired local legislators to establish already in 1946 additional rules for foreign entrepreneurs that did not apply to their Antillean counterparts. That this violates the constitutionally anchored prohibition of discrimination does not seem to bother anybody. Back in the day, the legislator created these rules to protect Antillean entrepreneurs. Based on the Economic Research Foundation (SEO)-report about St. Maarten’s business climate, the distinction between those born in the Antilles and those outside…
~ Non-Antilleans must apply for a business license when registering a sole-proprietorship in St. Maarten ~ PHILIPSBURG — Ministers and parliamentarians swear allegiance to the Kingdom Charter and the Constitution of St. Maarten when they take office. However, history shows that when it comes to making rules and regulations, politicians have a tendency to forget this and basically do whatever they like. A case in point is the violation of article 16 of the Constitution. This article states: “Everyone who is in St. Maarten will be treated equally in equal circumstances. Discrimination based on religion, political affiliation, race, skin color,…
PHILIPSBURG — The Ministry of Public Housing, Urban Planning, Environment and infrastructure (VROMI) gets a very bad report card in the 2021 annual report of the Ombudsman. “The Ombudsman continues to be extremely concerned about the functioning of the ministry of VROMI,” the report states. “The growing inability to address inquiries, applications and concerns is alarming.” In a letter of concern, addressed to the minister of VROMI, the Ombudsman states that “the ability for the ministry to respond to letters, applications and concerns has come to a virtual halt.” Furthermore, the annual report notes that investigations and reports by the…
2. Getting credit PHILIPSBURG — Establishing a business in St. Maarten is an at times an expensive road littered with stumbling blocks. The Ministry of Home Affairs and Kingdom Relations and the Ministry of Economic Affairs, Tourism, Transport and Telecommunication commissioned a report to assess the local business climate, identify bottlenecks and recommend solutions. The report is produced by the Foundation Economic Research (SEO), the Economic Bureau Amsterdam (EBA) and Tackling Law. Read Part 1. The Licensing System online here>>> In this second episode in a series of articles based on the report we take a look at the troubles…
PHILIPSBURG — Acting Minister of Tourism and Economy Omar Ottley signed a service level agreement with A&A Accounting for a training program that aims to help 25 aspiring and existing entrepreneurs to bring their business skills to the next level. A & A Accounting, was founded in 2011 by financial analyst and small business coach and instructor Ann Marlin-Evans, who will lead the training program. The objective is to teach entrepreneurs how to start a business or how to sustain an existing enterprise through structural training. Participants will develop entrepreneurial abilities and skills. Paricipants will also be able to apply…
