1、UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington,D.C.20549_Form 20-F?REGISTRATION STATEMENT PURSUANT TO SECTION 12(b)OR(g)OF THE SECURITIES EXCHANGE ACT OF 1934OR X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31,2003
2、OR?TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _ to _Commission file number 0-20181_SAPIENS INTERNATIONAL CORPORATION N.V.(Exact name of Registrant as specified in its charter)_NETHERLANDS ANTILLES(Jurisdiction of incorporatio
3、n or organization)_Kaya Richard J.Beaujon z/nP.O.Box 837 WillemstadCuraao,Netherlands Antilles(Address of principal executive offices)Securities registered or to be registered pursuant to Section 12(b)of the Act:NoneSecurities registered or to be registered pursuant to Section 12(g)of the Act:Common
4、 Shares,par value 2.30 per share(Title of Class)Securities for which there is a reporting obligation pursuant to Section 15(d)of the Act:None_Indicate the number of outstanding shares of each of the issuers classes of capital or common stock as of the close of the period covered by the annual report
5、:As of December 31,2003 the issuer had 10,993,935 Common Shares,par value 2.30 per share outstanding.Indicate by checkmark whether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the proceeding 12 months(or for suchshort
6、er period that the registrant was required to file such reports),and(2)has been subject to such filing requirements for the past 90 days.Yes X NoIndicate by checkmark which financial statement item the registrant has elected to follow:Item 17 Item 18 X#TABLE OF CONTENTSPageIntroduction3PART I3Item 1