Invest in Venezuela
Advising investors for sound decision-making in a changing environment
How to invest / Forming of the Company
Forming of the Company
How to invest
There are different ways of mercantile and civil societies in Venezuela, which are ruled by agreement of the parties, and the disposition of the Commerce Code and the Civil Code.
The mercantile societies have the purpose of one or more acts of trade, regulated by the Article Nº 201 of the Commerce Code. The mercantile societies in Venezuela are qualified by; collective partnership’s name, limited partnership, Limited Liability Company and joint-stock company, the latter is the most used.
To form a company in Venezuela you must:
- Choose the most convenient corporate, in accordance with the current regulations.
- Choose the Name or social denomination of the Company, in accordance with The Commerce Code that must be subjected into consideration and reserve on Civil Register at the correspondent the appropriate jurisdiction to the place of the Company.
- Drafting of the Establishing Company document and the articles of associations of the Company, with the advice of a law expert (Lawyer).
- The correspondent contributions should be made to the capital of the Company, at least at the minimum proportions required by The Commerce Code and in accordance to “rightness” criteria of the capital issued by SAREN.
- Register the establishing document at the correspondent Mercantile Register.
- Get the Mercantile Register of the Company and publish it in Forensic Gazette of the Mercantile Office.
- Obtaining a Visa: Business passer TR-N / Investor passer TR-I
- Forming of the Company
- Obtaining the Tax Resgister Information (R.I.F in Spanish)
- Foreign Investment Register and Company Qualification
- Subscription of the Company at Venezuelan Institute of Social Welfare (IVSS in Spanish)
- Subscription and Registration at Training and Education National Socialist Institute (INCES in Spanish)
- Subscription at National Bank Housing and Habitat National–Banavih
- National Register of Working Entities (RENET in Spanish) and Obtaining the Number of Labor Identification (NIL in Spanish)
- Single Register of People who develop Economic Activities – RUPDAE