Official Name:  The Bolivarian Republic of Venezuela

Capital:  Caracas

Official language: Spanish 

Currency:  Venezuelan Bolívar

 

OUR SERVICES;                      

• Consultation (in person, online, phone)
• Helping to prepare your documents
• Start to finish your company registration process
• Immigration services

 

Venezuela

 

Venezuela, a nation situated in the northern part of South America, is a land of incredible diversity and contrasts. Its history is marked by both ancient indigenous civilizations and European colonialism, while its culture is a vibrant mosaic of influences from across the world. In recent decades, Venezuela has faced economic and political challenges that have shaped its trajectory. However, despite these struggles, the country remains a land of natural wonders and captivating attractions.

Historical Overview: Venezuela’s history can be traced back to ancient indigenous civilizations such as the Caribes and Arawaks. Christopher Columbus arrived in Venezuela in 1498, and Spanish colonization began soon after. Venezuela played a pivotal role in the wars for independence from Spanish rule led by figures like Simón Bolívar and Francisco de Miranda in the early 19th century. It emerged as part of Gran Colombia, a short-lived federation, before gaining full independence in 1830.

Culture and Society: Venezuela’s culture is a vibrant blend of indigenous, African, European, and Caribbean influences. The country is known for its rich music traditions, including the world-famous joropo and salsa. Literature, art, and dance also play significant roles in Venezuelan culture. The nation is home to numerous festivals and traditions, such as the colorful Carnival and the passionate fervor of baseball, the national sport.

Economic Landscape: Venezuela boasts one of the largest oil reserves in the world, which has historically been the backbone of its economy. However, over-dependence on oil exports has made the country susceptible to fluctuations in global oil prices. In recent years, Venezuela has faced severe economic challenges, including hyperinflation, scarcity of basic goods, and a declining GDP. These issues have contributed to political instability and social unrest.

Political Dynamics: Venezuela’s political landscape has been marked by a series of transitions and challenges. For much of the 20th century, the country experienced periods of both democracy and military rule. In the late 20th and early 21st centuries, Venezuela underwent a period of left-wing governance under Hugo Chávez, which introduced socialist policies. However, his presidency was marked by polarizing politics and economic challenges. In recent years, political instability and international tensions have characterized the country, with competing governments and claims to legitimacy.

Tourist Attractions: Venezuela offers a stunning array of natural attractions, including the world-famous Angel Falls, the highest waterfall on Earth, located in Canaima National Park. The country’s diverse landscapes encompass the Andes Mountains, the Amazon rainforest, and pristine Caribbean beaches. Los Roques Archipelago National Park is a haven for water sports enthusiasts, while the historic city of Coro and its well-preserved colonial architecture provide a glimpse into the country’s past.

 

General Questions

How long does it take to register a company in Venezuela?
5 month to registers and 10 months to takes licenses.

If a child is born in Venezuela, can he or she become a citizen of that country?
Citizenship by birth in Venezuela is in the form of a soil system, meaning that only the birth of a child in Venezuela can give him or her residency. If the citizenship of the parents is Venezuelan and the child is born in another country, with the permission of the government of Venezuela, the conditions of citizenship of this country are granted to the child.

What is the capital required to register a company in Venezuela?
$ 42820 USD

What is the corporate income tax in Venezuela?
34٪

Do I have to be an applicant to register a company in Venezuela?
No. You do not need to be in Venezuela to register a company.

The benefits of company registration in Venezuela

• A company can be registered with a shareholder and a director.
• You do not need to travel to Venezuela to register a company.
• Foreigners can register a company in any field and there are no restrictions.
• All information of foreign shareholders and managers is protected.

The disadvantage of company registration in Venezuela

• 34% corporate income tax plus 12% VAT
• The complete company registration process takes about 5 months.
• The licensing process takes about 10 months.
• Venezuela’s turbulent economic situation with the highest crime rate
• Venezuela has about 13% of skilled labor, and foreign companies face skilled labor.
• Inflation above 50%
• Investors will have trouble communicating with people and government employees who speak only Spanish.
• The official language of Venezuela is Spanish and investors have to pay a lot of money for translation and administrative correspondence.

Type of company registration 

• Limited Liability Company (LLC)
• Joint Venture company (JVC)
• Free zone company
• Foreign Branches

The company registration process 

• Company registration application
• Specify 3 names and get confirmation of a name for the company
• Preparation and adjustment of the company’s articles of association, including the approved name, type of company, goals of the company, names of shareholders and amount of shares, names of directors, company address
• Registration of companies in notaries
  Opening a bank account for the company and transferring the company’s capital
• Register the company in the tax office and obtain a tax code for the company
• Registration of the company in the Social Security Office
• Preparation of company seal