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Annual contribution of the Chamber of Commerce to rise sharply on Bonaire

Annual contribution of the Chamber of Commerce to rise sharply on Bonaire

KRALENDIJK- The Chamber of Commerce on Bonaire is introducing a new rate system for the annual contribution of companies. Where most Limited Liability Companies, mostly indicated by the abbreviation NV or BV used to spend $80 a year, the new rate will now be at least $240 a year, or three times the current rate.

This rate only applies for so-called ‘small’ limited liability companies, a single director. Larger companies, or companies with several representatives, will have to pay 400 dollars per company, per year.

The rate increase is somewhat hidden in a press release that the Chamber sent out on December 23, which does mention, but where no concrete amounts are mentioned.

“The Bonaire Chamber of Commerce and Industry announces that with effect from 1 January 2022 the Chamber of Commerce and Industry Act BES, the Trade Register Act 2009 BES, the Trade Register Decree 2009 BES and the Elections Decree for the Chambers of Commerce and Industry BES have been renewed”, according to the release

And: “The rates associated with the various acts concerning the trade register, including the rates for the annual contribution of the organizations registered in the trade register and the rates for other tasks of the Chambers of Commerce and Industry BES have also been changed as of January 1, 2022. as established in the Financial Regulation Trade Register BES 2022 (Government Gazette No. 23103, dated 7 May 2021)”.

People who take the effort to actually look up the rates on the Chamber’s website, will notice that in most cases, the yearly contribution will be up to 200% more expensive than is the case now.  

Weights

In the new systems, weights are applied to the various legal entities by the Chamber. Where a sole proprietorship (normally referred to as Eenmanszaak or EZ) continues to pay the current rate of $80 per year, foundations are regarded as legal entities to which a weight of 2 is applied, while a small NV or BV is now assigned a weight of 3. The weight determines the number of times the base rate that must be paid.

Region

With the new rate structure, the Chamber of Commerce on Bonaire will be considerably more expensive, than the rates that apply on Aruba, Curaçao and Sint Maarten. The Aruba Chamber charges a mere 67 dollars per year, while on Curaçao a yearly fee of 83 dollars is applied. The fee for the Sint Maarten Chamber are somewhat higher with 140 dollars per year, but still much lower than the new rates that will come into effect on Bonaire as of January 1, 2022.

The Director of the Chamber of Commerce in Bonaire, Cherety Kirindongo, in an invited comment said that the Chamber would soon provide further explanation about the new tariff system.

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