You’ve made up your mind and are ready to start business on St Eustatius or Saba. Before you open the doors of your company, it is sensible to do some preparation.
You must consider certain matters thoroughly, although it can vary greatly between businesses how much time you need to spend on the preliminary stages. You can make as much or as little effort as you want.
Don’t hesitate to contact us if you have any questions.
Obviously, financing, location and legal form are important elements to consider. You can record it all in a business plan: a blueprint of your (future) business which sums up and details all the relevant information. We recommend that you draw up a business plan at an early stage. Not only gives it clarity for yourself, you will also need it to get the required license(s) depending on the legal form of business. There are free models/templates for every sort of plan available for downloading from the Internet. here is an example of an extensive business plan-model.
Next to decide is the legal form for your company. Will it be a Private Limited Company (BV), a sole trader (EZ) or a professional partnership? Or will it be a foundation or association? There are pros and cons to all legal forms, depending on the situation. There are, for example, differences in type (legal entities and non-legal-entities), differences in incorporation costs, whether you need to call in a civil-notary or not, etc. we’ve listed all legal entities here.
Whether you are starting a new business or you wish to expand one, financial support is one of the most important issues to consider.
There are some options for financial support: from the bank, from friends and family, with micro-financing (e.g. Qredits), credit unions, crowdfunding platforms, etc. All these options could be suitable for your business, but one might be more suitable than another. Take time to do your research and to acquire as much information as possible.
To be active as an entrepreneur, you must be in possession of one or more permits or licenses. These permits or licenses are issued by the local government (Public Entity of St Eustatius or Saba). A number of permits may be required depending on the activities you are going to develop. The most common permits in this area are: the environmental permit, the license to sell alcoholic beverages and operate a catering or hospitality establishment, the restaurant license and the street trader’s license. Read more
Companies listed in the Commercial Register have the option of adding one or more trade names. A trade name may differ from the official name of the business. The official name is recorded in the Articles of Association and cannot be changed very easily (unless the Articles of Association are amended by a civil-law notary). As a business, you can help the general public distinguish between your operations with trade names, for example, by using different trade names for different operations.
In some cases, certain trade names are prohibited or not recommended. For instance, if a trade name is identical to one that is already listed in the local commercial register (or looks very similar), or is a well-known and/or protected names, like Apple, Samsung, Shell, McDonalds, etc. Contact the Chamber of Commerce to check the availability of a trade name.