AGREEMENT

BETWEEN

THE CAYMAN ISLANDS AS AUTHORISED UNDER THE LETTER OF

ENTRUSTMENT DATED 1 SEPTEMBER 2009 FROM THE UNITED KINGDOM OF
GREAT BRITAIN AND NORTHERN IRELAND,

AND

THE KINGDOM OF THE NETHERLANDS, IN RESPECT OF THE NETHERLANOS

ANTILLES

FOR

THE EXCHANGE OF INFORMATION WlTH RESPECT TO TAXES

1
 The Govemment of the Cayman Islands.

","
the Govemment of the Kingdom of the Nelhertands. in respect of the Nethef1ands
Antilles .

DESIRING ta strengthen the relationship between them through cooperallon in

taxation matters.

Have agreed as lollows:

Article 1
Scope of the Agreement

,. The competent authorities of lhe Parties shall proville assistance Ihrough

exchange of information lhat is foreseeably relevant ta the administration and
enforœment of lhe domestlc laws 01 the Parties conoeming taxes coverecl by this
Agreement Such information shall include information thal is foreseeably relevant la the
determination. assessment and cojlectlon 01 such taxes. the reçovery and enlorcement
of tax daims. or the investigation or prosecution of tax malters. Information shall be
exchanged in accordance with the provisions of thlS Agreement and shall be treatecl as
confidenlial in the mannef provided in Article 8. The rights and saleguards securecl ta
persans by the laws or administratIVe practice of the requeSled Party remain applicable
la the exlenllt1at they do nol uoduly preVen! or delay effective exchange of inlonnation.

2. As regards the Kingdom 01 the Nelher1ands. this Agreement shall apply

only la the Nelherlands Antilles

2
 MicJe 2
J(Jrisdiction

A requested Party is not obIigated to Pfovide Information whic:h is ne~her held by

its authorities nor in the posseSSion or controt of parsons who are w~tun its temloria!
jurisdiction

M<Ie'
Taxes rovered

,. The taxes which are the subject of thls Agreement are'

a) in It\e case of the Cayman Islands, taxes of every kind and
desctiption IIxisting on the date of signature;

b) in the Netheriands AntInes.

(i) the income tax (inkomtenbe!aSllng );

(ii) the wages tax (Ioonbe!asbng);

(iti) It\e Pfofit tax (Wlnstbe!asllng ); and

(iv) the surtaxes on the Incarne and profil tax (opcenten op de

inkomsten- en winstbe!astlng)

2. This Agreement shaJ! also apply to any identlcal taxes imposed after the
date of signature of the Agreement in addition to or in place of the existing taxes. This
Agreement shall also apply to any substantially similar taxes imposed after the date of
signature of the Agreement in addition to or in place of the eXlsting taxes. Furtharmore,
the taxes COYllfed may be expanded or moditied by mutua! agreement of the PartlllS in
the form of an exchange of letter. The competent authorities of the Partills sha!t notlfy
each other of any substantial changes to the taxation and related information gathering
measures rovered by the Agreement.

3
 Article 4
Definitions

1 For the purposes of this Agreement, unless otherwlse defined

a) the terni "Party" means the Cayman Islands. Of the Klogdom of the
Netheriands. in respect of the Netheriands Antilles as the conlext
reQuires .
b) the lenn "Cayman Islands" means the temtory of the Cayman
Islands and indudes the temtorial sea and areas within the
mantlme boundaries of the Cayman ISlands and any area wrthin
which in aCCOfdance with intemational law the rights 01 the
Cayman Islands with respect to the seabed and sub-soll and their
natura l resources may be exereised;
c) the terni "the Ne!he11ancts Anblles" means the part of the Kiogdom
01 the Netherlands that is siluated in the Caribbean Sea and
consistlng of the Island Terrilories of Bonaire. Curaçao. Saba. SI.
Eusta~us and St. Maarten (Dutch part) indudlng the territorial
waters thereof and the pari of the seabed and ils subsoil uoder the
Caribbean Sea over which the Klngdom of the Nethenands has
sovereign rights in aœordance wrth international law but excluding
the pan thereol relallng to Al'\Jba .
d) the term ' competent authority" rneans
i) in the case of the Cayman Islands. the Tax Information
Authority;
ii) in the case of the Nethenands Antilles. the Mlnister of
Finance or his authorired represenlalive:
e) the term "person" indudes an indivlClual. a company and any other
body of pei"SOMs.
the term "company" means any body COfI)OI'ale Of any entlty that is
treated as a body corporate fOf tax purposes.
g) the lerm "publicty traded company" means any company whose
principal class of shares is hsted on a recognlsed stock exchange
provided ils bted shares can be readily purchased or sald by the
public. Shares can be purchased or soId "by the publi<:" if the

4
 purchase Of sale of shares is nO! implicrtly or e~plicrtly reSlôcted to
a limited group of investors,
h) the term "principal class of shares" means the cléIss or classes of
shares representHlg a majority of the voting power and value 01 the
company;
i) the term "recognised stock e~change" means the stoell e~changes

of the Cayman Islands, the Nethef'tands AntiJies and any stock

e~change agreed upon by the competent authorilies of the Parties;
il the term ' collectlve investment fund or scheme' means any pooIed
investment vehicle , irrespective of iegal foon The term 'public
collective investment fund or scheme" means any collective
investment fund or scheme provided the units, shares or other
interests in the fund or scheme can be readiiy purchased, soId or
redeemed by the public. Units, shares or other interests in the fund
or scheme can be readity purchased, soId Of redeemed "by the
public' if the purchase, saie or redemptlon is not implicitly Of

explicitly restricted 10 a limited group of inveslors.

k) the term 'tax" means any tax 10 which the Agreement applies;
1) the lerm "applicant Party" means the Party requestlng infoonation;
m) the term "requested Party" means the Party requested 10 proVide
inloonatlon;
n) the term ' information gathering measures" means laws and
administrative Of jlJdicial procedures that enable a Party to obtaln
and provide the requested infoonation;
0) the tenn "information" means any fact , statement Of record in any
form whatever;
p) the term "criminal tax matters" means tax matters involving
intentional conduct which is liable 10 prosecution under the crimlnal
laws of the applicant Party;
q) the term "criminal laws' means ail crimlnal laws designated as
such under domestic law ilTespectlve of whether contalned in the
ta~ laws, the criminaJ code or othef statutes.

5
 2. As regards the application of thlS Agreement Olt any tlme by a Party, any
ttlrm noI defined Ir.ereln shall, unless the conleXi OIhel'WlStl reqUlftlS, have the meanlng
that il hu at thaillme under the law of that Party, any meaning uoder the applicablElta~

laws of the appliC8nt Party prevailing over. meaning given to the term uoder other laws
of that Party

"'<le ,
Exchsng6 of iflfonnsl/Ofluf}OO reQuest

1 The competent authority of the requesled Party shall provide upon requesl
information fOf the PUrposM rmrred to ln ArtIde 1 Such information Ihall be e~changed

WIthoot reg.rd to whether the oooduc:t belng investigated wooId constllute a enme under
the taws of the reqUMted Party if such cooduct occurred .., the requesled Party

2 Il the information in the possession 01 the competent authonty of the

requesled Party il nol sofficient to enable il to comply with the request for InfOrmalion,
!ha! Party shall use .11 relevant informatlOl'l g.thenng measures 10 provlCle the applicant
Party wrth the information requestecl, notwrthstanding thal the requesled Party may no!
need such information fOf itI own tax purpoaes

3 IIspecifically requested by the competent authonty of an applican! Party,

the competent authcdy of thtl requested Party shall pro'fide Information under Ihl'
Article, to the eXient allowable uoder ifs domestlc laws, in the form of deposilion. of
wrtne5seS aod authentic8tecl copieS of Original records

4 Each Contracllng Party .l'Ian eMure Ihat its competent authonbe. fOf the
purposes spectfli!ld in ArtIde 1 of the Agreement, have the authority to obIain and
provide upon ri!lql.lest

a) Inlormation held by banks, other financial institutions, aod any

persan acting in an agency or fidudary C8paaty including
nomlnees and trusteu ,

,
 b) information regarding the ownership of compan.es, partnerships,
tn.lsts, foundations , "AnstaHen" and ott.er parsons, inctuding, wittlln
the constramlS of Article 2, ownershlp information on ail such
persons in an ownership chain; in the case of trusts, information
on settlofs, trustees and beneflClanes; and in the case of
foundations, information on founders, membef's of the foundation
coundl and benefidaries. Further, this Agreement does not Cfeate
an obligation on the Parties to oOtaln or provide ownership
information Wlth respect 10 pubtidy traded companl8S or pubtic
cotJective investment runds Of schemes unless such information
can be obtained wilhout giVlng rise to disproportionate difflCU!bes

5. The competent authority of the applieanl Party shall provide the fotlowing
information to the competent authority of the requested Party when making a request for
information under the Agreement to demonstrate the foreseeable relevance of the
information to the request:

a) the identrty of the person UOOer examinatlOn or investigation and

the tax period of the person concemed;
b) to the extent known , the name and address of any person believed
to be in possession of the requested information;
c) grounds for believing that the information requested is held in the
requested Party or is in the possession or control of a person
within the jurisdiction of the requested Party;
d) a statement that the request is in conformity wilh the law and
administrative practices of the applieant Party, that if the requested
information was within the junsdiction of the applieant Party then
the competent authonty of the applieant Party would be able to
obtaln the information under the laws of the applieant Party or in
the normal course of administrative practice and that il is in
conformity with Ihis Agreement;

and, 10 the rullest extenl possible.

7
 e) a statement of the information sought including ijs nature and the
fonn in which the appHcant Party wishes to receive the Information
from the requested Party:
f) the tax purp0s8 fOf which the Infonnation 15 sought:
g) a statement thal the applicant Party has puBued ail means
available in ijs own terrnory to obtain the information. except those
that would give rise to disproportionate difficulties

6. The competent authority of the requested Party shall f()(Ward the requested
infOfTTlatlOll as prompUy as possible to the applicant Party

Article 6
TlllC elCllmmlltions abroad

1. A Party may, on request, allow representatives of the competent Iluthonty

of the othe!' Party to enter its terrnory to interview indlviduals and examine records with
the written consent of the pel'Sons concemed. The competent authority of the applicant
Party shall notify the competent authority of the requested Party of the time and place of
the meeting wrth the indivlduals concemed

2. At the request of the competent authority of one Party. the competent

authority of the other Party may allow representa\Nes of the competent authority of the
first-mentioned Party to be present al the appropriate part of a tax elCamination in the
second-mentiOOed Party.

3. If the request referred to in paragraph 2 is acceded to. the competent

authority of the Party conductlng the examination shall. as saon as possible. notJfy the
competent authority of the other Party about the lime and place of the examlnation, the
authOOty Of official designated to carry 00\ the elCamination and the procedures and
conditions required by the first-mentloned Party fOf the conduct of the examinatlon. AH
decisions with respect to the conduct of the tax examination shall be made by the Party
conduding the examination

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 MicIe 7
Possibility of declining Il raquest

1 The requested Party shall nol be required 10 obIain or provide information

'ha! the applicant Party would l'lOt be able 10 obtaln undef its own laws for purposes of
the administration or enlorcement of Ils own tax laws. The competent authooty of the
requested Party may decline 10 assis! where the reques! is not made in conformity Wlth
this Agreement.

2. The prOVISionS of this Agreement shall not impose on a Party the obligatIOn
10 supply information which is subied 10 legal privilege or would disdose any trade,
business, industrial, commercial or prolessional secret or Irade process Notwithstanding
the foregoing , information of the type referred 10 in Article 5 . paragraph 4 shall not be
treated as sucn a secret or trade proeess merely because it meets the crileria in tha!
paragraph

3. The requesled Party may decline il request for inlormallon if the di&closure
of the information would be contrary 10 public poIicy

4. A requesl lor information shall no! be ref\lsed on the groond tha! the tax
daim givlng rise 10 the reques! is disputed

5_ The requested Party may decline a request fOf information if the information
ie requeeted by the applicant Party to administer Of enforce a proVIsion of the ta. law of
the applicant Party, Of any requirement connected therewrth. which discnminates agalnst
a national of the requested Party as compared wrth a national of the applicant Party in
the same ClfCumstanoes

9
 Article 8
Conrlden/iality

Arly information received by a Party under this Agreement shall be treated as

confidential and may be disclosed anly to persans Of authorities (indudrng courts and
administrative bodies) in the jurisdiction of the Party lXInc::emed Wlth the assessment or
collection of. the enforcemenl or Pfosecution in respect of, or the determination of
appeaJs in relation to. the taxes covered by th,s Agreement. Such persons or authorities
shall use such information only for such purposes. They may disclose the information ,n
publie court Pfoceedings Of in judicial decisions The information may r'IOt be disclosed 10
any other persan Of entlly or authority or any other jurisdiction or used for any other
purpose withoutthe express written consent of the competent authority of the requested
p,,,,

Article 9
CM"

Incidence of costs inc;urred in providing assistance shall be agreed by the

competent authorities.

Article 10
Language

Requests lOf assistance and answers thereto shall be drawn up in English.

10
 ArtICle 11
Mu/ual agrooment proceduf8

1 Where ditflCUlties or doubts anse between the Parties regarding the

implementation or interpretation of the Agreement. the competent authont!es shall
endeavoor to re501ve the matter by mutual agreement.

2. In add~ion to the agreements referred to in paragraph 1, the competent

authorities of the Parties may mutually agree on the procedures to be used under
Articles 5 and 6.

3. The competent authorities of the Parties may communlcate with eacn other
directly for purposes of reacnlng agreement under this Article.

4. The Parties shall agree on other forms of dispute resolution should this
become necessary.

Article 12
Entry in/o forc6

This Agreement shall enter into lorce on the tirst day 01 the second monlh after
the laler ollhe dales on whicn eacn 01 the Parties has notlfled the other. in writlng . of the
completion of ~s necessary intemal procedures for entry inlo force Upon the date of
entry ;nlo loree. il shall have elfed:;

a) for mminal ta~ matters on Ihat dale, but only in respect of ta~able

periods beginning on or after January 1". 2010 or. where there is

no laxable period. ail charges to ta~ arising on or after January 1".
2010; and
b) for ail other matters coyered in Article 1 on !flat dale. but only in
respect of taxable periods beginnlng on or after that date or. where
there is no la~able period. ail charges 10 tax arising on or after that
date.
 Article 13
Termina/ion

1. This A{jreement shall remaln in force until termlnated by one of the Parties
Eithef Party may tennlnate the Agreement, through diplomatie channels. by giving notice
of terrnination to the other Party at least six months before the end of any calendar year
after the expiration of a period of three years from the date of ~s entry into force. In sllch
event the A{jreement shall cease to have effect for taxable years and periods beginning
after the end of the calendar year in which the notice of termination has been gÎllen

2. In the event of termination . both Panies shall remain bound by the provision
of Article 8 with respect to any infonn ation obtained under the Agreement.

IN WlTNESS WHEREOF the unde!"signed. duly authorized thereto by the,r

respective Govemments. have signed this Agreement.

DONE al . this dayof 2O()g , ln

dupticate. in the English language

FOR THE CAYMAN ISlANDS' FOR THE KINGDOM OF

THE NETHERlANDS. IN RESPECT OF
THE NETHERlANDS ANTILLES

12
 AGREEMENT

BETWEEN

THE CAYMAN ISLANOS AS AUTHORISEO UNDER THE LETTER OF

ENTRUSTMENT DATED 1 SEPTEMBER 2009 FROM THE UNITEO KINGDOM OF
GREAT BRITAIN AND NORTHERN IRELANO,

AND

THE KlNGDOM OF THE NETHERLANDS, IN RESPECT OF THE NETHERLANDS

ANTILLES

CONCERNING

THE INTERPRETATION AND APPLICATION OF

THE AGREEMENT BETWEEN THE CAYMAN ISLANDS AS AUTHORISEO UNDER
THE LETTER OF ENTRUSTMENT DATEO 1 SEPTEMBER 2009 FROM THE UNITED
KINGDOM OF GREAT BRLTAIN AND NORTHERN IRELANO,
AND
THE KINGDOM OF THE NETHERLANOS, IN RESPECT OF THE NETHERLANOS
ANTILLES
FOR THE eXCHANGE OF INFORMATION WITH RESPECT TO TAXES

,
 The Govemment Qf the Cayman Islands,

,,'"
the Govemment Qf the Kingdom of the Netherlan<k., in respect of the Nether1ands
Anlilles ,

(the ' Parlies"),

DESIRING to facilitate the exchange Qf information Wlth respect to taxes ,

Have agreed as follows :

,. Ad Article 5(5)(g}

Wrth respect to subparagraph g) Qf paragraph 5 Qf Article 5 Qf the Agreement

between the Cayman Islands as authotised under the letter 01 entrustment dated t
September 2009 Irom the United Kingdom Qf Great Bntain and NOI'them lreland, and the
Kingdom of the Nether1ands, in respect 01 the Netherlands Antilles for the Exchange of
Information with respect to Taxes (herein after referred to as "the Agreemenr) ~ is
understood that the term ' pursued ail means available in its own territor{ indudes the
requesting Party lISing exchange of information med1anisms it has in lorce with any third
country in which the information is located_

2
 1/ Ad Articl& 5

If personal data is exchanged under the Agreement, the foilOWlng add~ional

provisions shall apply'

a) The recelVing authority may use sl.JCh dala only for the staled purpose
and shall be subject 10 the conditions prescribed by lhe supplying
authority; such use is aise pennittee!, subject to the written consenl
required under Article 6, for the prevention and prosewtion of serious
cnmes and fOf lhe purpose of aôdresslng serious Ihreats 10 publie
security;
b} The receivlng authority shall on requesl Inform lhe supplying authority
about lhe use of the suppHed data and lhe rHuks acnleved thereby;
c) Personal data may be supplied only 10 the responsible ager1Cles Ally
subsequent supply 10 other agencies may be enected only Wlth lhe pnor
approval of the supplying authonty;
d} The supplying authority shall be obliged to take ail reasanable care to
ensure Ihal the data 10 be supplied are accurale and thal they are
nete$sary for and proportionate to the purpose for wtuch they are
supplied Aroy bans on data supply prescribed under applicable domestie
law shall be obsefved. If ~ emerges thal inaccurale data or data which
should not have been suppliee! have been supplie<:!, the receiving
authority shall be infOrmed of this Wllhout detay. Thal aUlhority ahall be
obIiged to correct or erase sucn data wrthout delay;
e) Upon application the persan conœme<l shall be informed of the supplied
data relating to him and of the use to which sucn data are to be put There
shall be no obligation to fumiah this information If on balance ~ tums out
Ihat lhe public interest in withholding ~ outwelghs the interest of the
person conceme<l in receiving ~. In ail other respects, the right of the
person conceme<l 10 be informed of the exisbng data relabng 10 hlm shall
be goveme<l by the domestic law of the Party in whose sovereign lerritoxy
the application for the infonnatlon is made;
The receiving aUlhority shall bear liability in acçordance with ~s domestlc
laVIS in relation 10 any person suffefing unlawfut damage as a resuk of
supply of data punuant 10 Ihis Agreemenl ln relalion 10 lhe damaged

3
 person, the receiving authority may not plead in ils defence that the
damage had been caused by the supplying agency:
g) Il the domestic law of the supplylng authority provided, wrth respect 10 the
pel"$Oflal data supplied, for erasure wrth,n a certain penod of Ilme that
authority shall inform the receiving authority aecordingly Jrrespective 01
such periods, supplied personal data shall be erased once they are no
longer required for the purpose for which they were supplied:
h) The supplying and the receiving authority shall be obliged to keep offiCiai
records 01 the supply and recelpt of personal data.
i) The SUpplying and the reoeiving authority shan !:le obliged 10 take effedive
measures to proIect the personal data supplied aga'nsl unauthorise<!
access. unaulhorised alteration and unauthorised disclosure

11/ Ad arficIB 12

ln the event that a Party applies prajudicial or raslfictive measures base<! on

harmful ta~ pradices to residents or nationals of lhe olher Party, either Party may
immediately initiate Competent Authority proceedings to resolve the matter. A prejudiCial
or restrictive measure based on harmful tax pradices is a menure applied by one Party
10 residents or nationals of either Party on the basis Ihal any one or more ollhe following
applies:

a) the other Party does no! engage in effectIVe exchange of information:

b) beeause ~ lacl<s transparency in the operation of ilS laws, regulations or

administrative pradices: or,

c) on the basis of no or nominal taxes

Wilhout lim~lng the generality of the tenn , "preJudicial or reslfictlve measure" is

not lim~ed soiely to ta~ation matters and includes the denial of a deduction. cred~ or
exemption, the impo$~ion 01 a tax , charge or levy, or special reportlng requirements. but
does not include any generally applicable measure. applied by either Party agains!.
amoogst others. members of the OECD generally.

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 IV

ln the lighl of the IIxpenence 01 operatJng the Agreemerrt. or to refIect ehangll"lg

arcum.taoces. either Party may ....,th la propose il variatton in the terms of ttus
Agreement Il SO, it 1$ uoderstood the other Party will agree 10 hold tlmely dl,cuss.ion,
with a view to revising the term. of \he Agreement

a) The competent authontiH m.y Initiale discussions in cue

(i) the Cayman Islands entera Into an agreement WJth anothef

jun&dict1On wnich provides for ether tonns of II_change of
informlltion,

(ir) the Kingdom of the Nether1ands. in res,ped: of the Nether1ands

Antilles, enl.ra inlo an agreement WIIh anothef jl.ll'1t.ôict1Oll
comparable 10 the Cayman ISland' which proll'ide. for other form,
of IIxchange of Information ;

(iii) the Caymen l,land, introduces new !egillalion wh lch enable.

other form. ofaxchange of inlonnatlon;

(iv) the Netnen.odl Antilles introduces new !agls'allon which enables

other fOfTl'l' of eXcNnge of information.

b) If the Cayman Islands enli!IR !l'lIO ilffi3lngernents wrth another junt4ic::bon

comparable 10 the NetheI1ands Antilles for the ~ of informa\Jon
wnh respect 10 taxes lha! are IeSi buroensome in ,ny materilll respecl
!han the prOVISion. of the Agreement. the Nethertana. Antilles may initiale
discussions with the Cayman 111ands wrth a Vlew to modlfying the
Agreement 10 have Ilmilar elled:

cl If the Nelher1ands Antilles enleMi inlo arrangements Wlth another

jurisdiction comparable to lhe Cayman 111ancb for lhe provision of
information WIth respect 10 taxes !ha! are IeSI bordensome in any material
respect than the provISions of the Agreement. the Cayman Islands may
initiale discusslOfls Wlth the Nelher1ancb AntiIIeI wrth a _ to modlfylng
the Agreement to have llimilar e1!ed.

,
 v

This Protocol shall form an integral part of the Agreement between the Cayman
Islands as authoôsed under the lener of entrustment dated 1 5eptembef 2009 tram the
United Kingdom of Great Britaln and Northem Irstand, and the Kingdom of the
Netherlands, in respect of the Netherlands Antilles lor the exchange of Information WIth
respect to tax matll!f!l, and Ihall enter into fOfCEI on the same date as theAgreement.

VI.

The Parties ma)', by mulual arrangement, amend Ihis Protocol al any lime in
writing. Such amendment ,hall enter into force on the tirsl da)' of the second month sfter
the Parties have notifled each otller in writing Iha! the constitutionsl or internai
requirements lOf the entry into force of the amendmem have been complied with

IN WITNESS WHEREOF the undersigned. being duly authorised ln Iha! behalf

by their rl!$pectlYe Govemments. have signe<:! thl' Protocol .

DONE al • this dayof 2009, in

duplicata, in the English language

FOR THE CAYMAN ISLANDS' FOR THE KINGDOM OF

THE NETHERLANDS, IN RESPECT OF
THE NETHERLANDS ANTILLES