This country currently has a directory entry or basic profile only; a full handbook is planned.
01Overview
- Region
- Latin America
- Capital
- Caracas
- Currency
- VES
- Languages
- Spanish
- ISO code
- VE / VEN
Jurisdictions
- Venezuela — National level; special zones and regulated sectors have separate rules
Macro indicators such as GDP and population will be added from the World Bank in the data release (P1).
02Market Entry
Foreign ownership
Whether 100% foreign ownership is generally allowed, and key exceptions. Allowed / conditional / not allowed / unverified.
Most sectors are open to foreign investment
- Applies to
- Oil, mining, telecoms and media are strategic sectors under special rules; international sanctions compliance is essential
- Jurisdiction
- Venezuela
- Source
- MOFCOM
03Business Formation
Common legal entity
The company form most commonly used by foreign investors for a local operating entity.
Limited liability company (S.R.L.) or corporation (C.A.)
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
Registration authority
Primary authority for company or commercial registration.
Registry and Notary Service (SAREN) and the Mercantile Registry
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
Foreign ownership
Whether 100% foreign ownership is generally allowed, and key exceptions. Allowed / conditional / not allowed / unverified.
Most sectors are open to foreign investment
- Applies to
- Oil, mining, telecoms and media are strategic sectors under special rules; international sanctions compliance is essential
- Jurisdiction
- Venezuela
- Source
- MOFCOM
04Taxation
Headline corporate income tax
Statutory headline rate for ordinary companies, before incentives, exemptions, thresholds or special regimes. Always read with the conditions.
Progressive rates up to 34%
- Applies to
- Oil and mining activities pay special rates of 50%–60%
- Jurisdiction
- Venezuela
- Source
- State Taxation Administration
Indirect tax (VAT / GST / SST)
Standard rate and type of VAT, GST or sales & service tax.
VAT (IVA) general rate 16%
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- SENIAT
Dividend withholding tax (non-residents)
General withholding on dividends paid to foreign shareholders, before treaty relief.
Dividends from taxed profits are exempt; the excess is taxed at 34%
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- State Taxation Administration
Tax authority
Authority responsible for corporate tax registration and filing.
SENIAT
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- State Taxation Administration SENIAT
Tax treaty with China
Whether a double taxation agreement with China is in force. Rates and conditions per the treaty text.
In force
- Applies to
- Rates and conditions per the treaty text and STA publications
- Jurisdiction
- Venezuela
- Source
- State Taxation Administration (China) State Taxation Administration
05Banking & Payments
Exchange controls
Whether general exchange controls or cross-border fund rules apply.
Exchange control remains in law
- Applies to
- In practice FX flows mostly through parallel channels; conversion and repatriation risks are high
- Jurisdiction
- Venezuela
- Source
- MOFCOM
Banking & financial regulator
Primary regulator for banking and foreign exchange.
Central Bank of Venezuela
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
06Employment
Foreign employee work permit
Main permit types needed for foreign employees to work legally.
Work permit from the labour and interior ministries plus work visa
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
Labour & work permit authority
Authority for labour rules and foreign employee work permits.
Ministry of Labour; Ministry of Interior, Justice and Peace
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
07Trade & Customs
Customs authority
Authority for import/export clearance and tariffs.
SENIAT (customs and tax)
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
Main free trade agreements
Main regional and bilateral trade agreements relevant to Chinese exporters (not exhaustive).
Mercosur membership suspended since 2016
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
08Investment & Manufacturing
Investment authority / agency
Body responsible for approving, registering or promoting foreign investment.
Ministry of Foreign Trade; International Productive Investment Centre (CIIP)
- Applies to
- Ordinary companies
- Jurisdiction
- Venezuela
- Source
- MOFCOM
09Digital & IP
IP office
Authority for trademark and patent filing and registration.
Autonomous Service of Intellectual Property (SAPI)
- Applies to
- Trademark rights are territorial; register locally or designate via the Madrid System (check WIPO membership)
- Jurisdiction
- Venezuela
- Source
- WIPO
10Compliance & Risk
New York Convention party
Whether the country is party to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which affects enforcing foreign arbitral awards locally.
Yes
- Applies to
- Foreign arbitral awards can be enforced under the Convention, subject to its limited refusal grounds
- Jurisdiction
- Venezuela
- Source
- UNCITRAL
Live risk monitoring
Geopolitical, conflict and trade-route risk events for Americas, monitored by our sister site Global Risk Monitor.
Global Risk Monitor · Geopolitical and trade-route risk monitoring
11Step-by-Step
- 1Decide model and jurisdiction
- 2Confirm licences
- 3Prepare documents
- 4Incorporate
- 5Register for tax
- 6Open bank account
- 7Obtain operating licences
- 8Start operations
Generic steps without times or fees; rely on the facts and official sources on this page.
12Official Resources
Chinese official resources
Country materials from MOFCOM, the State Taxation Administration and China's overseas commercial offices
- MOFCOM country investment guideMOFCOM · PDF (Chinese)
- Country tax guide (STA)State Taxation Administration · PDF
- Commercial office中华人民共和国驻委内瑞拉玻利瓦尔共和国大使馆经济商务处
- MOFCOM going-global platformMOFCOM
- Compliance & security alertsMOFCOM platform
Official guides are long Chinese-language PDFs updated on the publishers' schedules. Our structured facts cite local authorities as primary sources; use these guides to cross-check.