SPF vs. Private Ownership vs. a Company (BV)

When you buy property in Curaçao, one of the key decisions is how to structure ownership. The three most commonly used options are: private ownership, an SPF (Stichting Particulier Fonds), or a BV (a private limited company). Each structure carries different implications for tax, liability, administration and flexibility.

Part 1: the three options compared

Private ownership

Under private ownership, the property is held in your own name. This is the simplest structure, with the least administrative burden. The downside is that you are personally liable, and private ownership offers less flexibility for, for example, inheritance or transferring an interest to others.

SPF (Stichting Particulier Fonds)

An SPF is a legal entity specifically designed for managing and ring-fencing private wealth, including property. An SPF has no shareholders and is managed by a board. This makes an SPF suitable for wealth and succession planning, and for shielding ownership from personal liability. An SPF is generally not intended for active commercial operation, such as large-scale commercial rental.

BV (private limited company)

A BV is a standard company with shareholders. This structure suits situations where the property is part of a more active business operation, for example commercial rental activity, multiple investors, or where profit is actively distributed or reinvested.

Part 2: which structure fits your situation?

The right choice depends on a number of factors:

• Use: is the property for private use, passive rental, or active commercial operation?
• Liability: do you want to limit personal liability?
• Wealth and succession planning: does transferring to heirs or other beneficiaries play a role?
• Administrative burden: how much administration and compliance cost are you willing to carry?

For owners mainly looking for asset protection and succession planning, without active business operations, an SPF is often the more common choice. We go into this in more detail in our Insight on SPF in Curaçao.

For owners with a more active commercial operation, or with multiple investors, a BV is usually a better-suited structure.

For owners with a single property intended for private use, with no specific need for asset protection, private ownership can remain the simplest and most cost-effective choice.

In conclusion

There is no universally correct choice — the best structure depends on your intended use, your longer-term plans, and how much administrative complexity you are willing to take on. Because this choice affects tax and liability, it is worth discussing with a local tax advisor or notary before choosing a structure.