Includes steps involved in establishing a local office.
Last Published: 2/17/2019

The process for registering a business in Venezuela is in flux.  The new 2017 Foreign Investment Law designated the Ministry of Trade and Investment (Ministerio del Poder Popular para Comercio Exterior e Inversion Internacional - MIPPCOEXIN) as the regulatory authority for foreign investment.  The National Center for Foreign Commerce (CENCOEX) handles investment issues related to imports and operates under the authority of MIPPCOEXIN.  A 2017 Foreign Investment Law passed by the illegitimate ANC requires foreign investors to enroll in a new registry and sign an investment contract with the GBRV through the investment promotion agency ProVenezuela (created in 2018); however, ProVenezuela’s operational mechanisms have yet to be established.  Prospective investors should consult MIPPCOEXIN or the ministry in charge of the respective sector for guidance.

U.S. companies should have a Venezuelan attorney draft the registration documents.  After registration, a business must obtain a municipal business license, which requires payment of a quarterly tax.  The final step in registration is obtaining the income tax registration number (RIF) from the Ministry of Finance.  The RIF must be shown on all fiscal documents, and it generally serves as the identification for the business entity.

Foreign companies are permitted without restriction to purchase real estate, except for a restriction on a foreign national’s purchase of real estate within 50 km of the national border or in other areas where there are security sensitivities.  Standard lease contracts do not cover utilities.  Some office buildings lease office space with at least one phone line, and cellular phone service is widely available.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.