St. Maarten Chamber of Commerce in Philipsburg
PHILIPSBURG--The Court in First Instance of St. Maarten ruled on Friday that the St. Maarten Chamber of Commerce is not legally permitted to require Ultimate Beneficial Owners (UBOs) to submit a UBO declaration or provide their CRIB or Tax Identification Number (TIN). According to the Court, there is currently no statutory basis for imposing these requirements.
Earlier last year, the Chamber of Commerce informed the public that legal entities were required to register their UBOs in the Chamber’s UBO register by July 1, 2025. In addition to basic personal information such as name, address, date of birth, and nationality, the Chamber also required UBOs to submit a declaration stating that they would not engage in money laundering, terrorist financing, or other illegal activities.
Furthermore, UBOs were asked to provide their CRIB number and/or TIN. The Chamber warned that failure to comply could result in rejection of the UBO registration and possible fines of up to Cg 50,000.
Concerns about the legality of these requirements were raised publicly well before the deadline. In an article published in The Daily Herald on July 7, 2025, attorney Pieter Soons stated that there was no legal basis for the Chamber’s additional demands beyond the basic registration information.
Several legal entities proceeded to register their UBOs without submitting CRIB or TIN numbers and without completing the UBO declaration. The Chamber subsequently requested that these entities provide the missing information. In response, the affected legal entities initiated summary proceedings against the Chamber of Commerce.
The Court ruled in favor of the legal entities, confirming that neither the UBO declaration nor the submission of CRIB or TIN numbers can be required under current law. The Court noted that while a draft national decree concerning the UBO register does exist, the Council of Advice (Raad van Advies) has not yet issued an opinion on the draft, nor has it been approved by Parliament. As a result, the Chamber may not anticipate future legislation by enforcing requirements that are not yet legally established.
The Court also addressed the handling of identification documents and proof of address submitted by UBOs. It ruled that if such documents are provided digitally, the Chamber must destroy them, as there is no legal basis for storing this personal data. In addition, the Court held that UBOs must be given the option to present these documents in person at the Chamber of Commerce, allowing for verification without retention of the documents. The judgment emphasized the importance of protecting the personal data and privacy of UBOs.
In its ruling, the Court acknowledged that St. Maarten has been on the Financial Action Task Force (FATF) grey list since 2024, underscoring the importance of effective legislation in this area. The Court stressed that any future legal framework should clearly regulate the non-public storage of UBO data, specify which authorities may access such information, and define the conditions under which access is permitted. While recognizing the international pressure to strengthen oversight, the Court made clear that proper legislation must first be enacted.
The legal entities in the proceedings were represented by attorneys Pieter Soons and Caroline Fiévez of BZSE Attorneys at Law.
https://www.thedailyherald.sx/islands/court-no-legal-basis-for-chamber-of-commerce-ubo-requirements
