What is a Proprietorship?

A proprietorship (eenmanszaak in Dutch) is a form of business where there is no distinction between the business assets and personal assets. As the owner of a one man business, you will be personally liable for all obligations of the business. A marriage settlement is important and should be considered. A marriage settlement has to be effectuated through a notary act.

Business License

Individuals born outside the Netherlands Antilles, but who have lived in the Netherlands Antilles for longer then 5 years, need a business license in order to establish a one man business.

Procedure for application

A request for a license to open a new business has to be made on an officially stamped paper of Naf. 5,- addressed to the Island Executive Council, "Bestuurscollege van het Eilandgebied Curaçao". The stamped paper can be obtained from the post office. The application needs to be submitted to the Economic Affairs Service, Business License Department, Molenplein z/n, tel: 462-1444, fax: 462-7590 stating:

Company registration

Most companies have to register with the Commercial Register of the Curaçao Chamber of Commerce and Industry. For a registration of a proprietorship the following is required:

Costs

The costs of the registration consist of the initial registration fees as well as the annual contribution. Both fees are determined by the amount of capital invested in the business.

An additional Naf. 7,50 needs to be paid for an extract from the registers. An extract is a document where the following is provided:
- Name of the business
- Date of registration
- Address of the business
- Name of the owner
- Registration number
- Business purpose

In case a new extract is required, a new copy should be ordered at least one day in advance!

Taxes

For a proprietorship, business income or loss is reported on the owner's individual income tax return.