Venezuela

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DOING BUSINESS

 


Local business incentives - Legal forms of companies - Registration and licensing procedures - Legal framework - Foreign exchange control - Regulations concerning equity investment - FDI inflows - Expertise of the political risk

Local business incentives

Foreign investors can contact the CONAPRI (Consejo Nacional de Promocion de Inversiones) to find out about investment aids.

 

Legal forms of companies

Form Number of partners/shareholders Minimum and/or maximum capital Liability Registration fee Release of financial documents
Sociedad de Responsabilidad Limitada (SRL) is a Private Limited Company. Minimum 2 Minimum VEB 20,000. Maximum BEV 2 million. Subscribed at the constitution. Liability is limited to the amount of capital contributed. Minimum about VEB 100,000. Maximum VEB 320,000 (formalities not included which vary depending on the size). Yes
Sociedad Anonima (SA) is a Public Limited Company. Minimum 2 No minimum. Subscribed at the constitution. Liability is limited to the amount of capital contributed. VEB 110,000 + minimum 1% of the capital amount. VEB 310,000 + minimum 1% of the capital amount. Yes

Registration and licensing procedures
The registration of legal entities is made with the RIF (Register of fiscal information). The company's status must be registered with the Trade Register where the company is located. It is advised to be assisted by a lawyer in order to face possible legal problems. Furthermore, the company must be registered with the SIEX (Surintendance of foreign investments) within 60 days following the signature of the contract or the company's registration with the Trade Register.

Legal framework
Foreign investments are encouraged in Venezuela, and protected by a new legal framework, especially through the dispositions stipulated in the 2095 decree.

Foreign exchange control
All the import and export should be registered through a government agency called CADIVI, the official exchange rate maintained for several months is 1 USD = Bs. 2150.  


Foreign Direct Investment inflows in Venezuela

FDI inflows 2003 2004 2005 World rank (*)
2005
FDI inflows (USD million) 2659 1 518 2 957 86/141
Source : UNCTAD - World Investment Report
Note : (*) World Rank = UNCTAD Inward FDI Performance Index. It is a measure of the extend to which a host country receives inward FDI relative to its economic size. It is calculated as a ratio of the country's share in global FDI inflows to its share in global GDP.

 

Last modified in 2006 - ongoing update
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