With a sole proprietorship there is no distinction between the personal and business assets. As a result, all assets and liabilities pertaining to the proprietorship constitute the income and expenses of the owner. Creditors of a sole proprietorship have recourse directly on the personal property of the owner, whereas private creditors can also recover their claims from the assets of the business.
The owner of a sole proprietorship born outside Curaçao needs a business license for opening a business on Curaçao. No management license is required to establish and operate a sole proprietorship. A written petition to establish a sole proprietorship can be filed with the Ministry of Economic Development of Curaçao.