Non-resident potentially purchasing a business that is an N.V. (Nameless Venture)
Does anyone that is a non-resident of Aruba have any experience in purchasing a business on the island? Specifically an N.V. or other entity where there are shares of a business. From my research I can purchase a business and own 100% of the shares but I cannot become a managing director of the business unless the business made over $300,000 in the previous years taxes.Ideally I would want to retain 100% ownership of the business, but my understanding is the business will need a managing director or maybe not. Can a non-resident pay a native Aruban to run the business without a managing director license?I get conflicting things when discussing this topic. I was told no I would not have to do anything and could just run the business outright bc the business would have been already registered at the Chamber since it is a pre-existing business. I have been told that it doesn't matter you have to register and I would have to be director and relinquish 60% of the shares to someone that is native and find a business partner. The list goes on.Thanks to anyone who replies and knows a definitive answer on this.
Qualglist
shared this idea
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Dido Lod commented
Indeed, acquiring a business in another country can be risky. But do not despair. You can take advantage of the advice of presentation specialists https://slidepeak.com/blog/quarterly-business-review-presentation and use them to your advantage. It is also worth considering all the risks when building such a business. Do not create a business in a dubious country, use only proven options
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bmwlovwer
commented
It seems like you're encountering conflicting information, which can be frustrating. I'm not an expert on the specific laws and regulations in Aruba, but I suggest reaching out to a local attorney or a business consultant who is familiar with these issues. They'll be able to provide you with more accurate and up-to-date information.
In the meantime, you may also find this link helpful for valuing a business: https://www.successionresource.com/valuation. Good luck with your search!
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Kari Allen commented
I understand that purchasing a business in a foreign country can be confusing, especially when it comes to regulations and requirements.