Invest in Venezuela

Advising investors for sound decision-making in a changing environment

1

Obtaining a Visa: Business passer TR-N / Investor passer TR-I

The TR-N visa given to business people, executives, companies or industries representants, foreign micro-entrepreneurs, non-immigrants that come to Venezuela for making commercial, financial and any other legal profitable activities related to their business with validity of one (1) year and multiple entrances.

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2

Forming of the Company

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.

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3

Obtaining the Tax Register Information (R.I.F in Spanish)

The Tax Register Information– RIF., is a mechanism destined to tax control for legal entities susceptible to the activities the make or their property that can be subjected of tax or responsible for the Income Tax (ISLR in English), only if the enrichment cause is or happens in Venezuela.

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4

Foreign Investment Register and Company Qualification

In accordance to Foreign Investment Law (November 2014), the approval and register of Foreign investment by Foreign Commerce National Center – CENCOEX, previous binding opinion of the Ministry and competent trade and accomplishing the conditions to Foreign Investment previously provided by the special regulations. From the granting of this register, there are effects on rights and guarantees provided by law, for foreign investments.

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5

Subscription of the Company at Venezuelan Institute of Social Welfare (IVSS in Spanish)

Every single company that has at least one (1) employee must be affiliated to Venezuelan Institute of Social Welfare (IVSS)

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6

Subscription and Registration at Training and Education National Socialist Institute (INCES in Spanish)

Training and Education National Socialist Institute Law– INCES, calls for a parafiscal mandatory contribution in compliance of working entities and their employees.

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7

Subscription at National Bank Housing and Habitat National–Banavih

The regime law of Benefit Housing and Habitat establishes a monthly and mandatory contribution of the dependent employees and their employers, for financing the Benefit Regime of Housing and Habitat.

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8

National Register of Working Entities (RENET in Spanish) and Obtaining the Number of Labor Identification (NIL in Spanish)

The N° 9.108 resolution (GO. N°40.655 from 05/07/2015) establishes the mandatory character of the National Register of Working Entities (RENET), for all public and private and mixed working entities of the country.

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9

Single Register of People who develop Economic Activities – RUPDAE

In accordance to the Organic Law of Fair Prices (Nov-2014), establishes the Single Register of People who develop Economic Activities – RUPDAE, under the guidance of the National Superintendence for the Defense of Social- Economic Rights – SUNDDE.

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10

Integral Management System for Industries and Commerce - SIGESIC

Following "Resolución Ministerial Nº 058 (Mar - 2012)" (Ministerial Resolution Nº508), the Integral Management System for Industries and Commerce (SIGESIC) is established, under the supervision of the "Ministerio del Poder Popular para la Industria y el Comercio" (Popular Ministry of the Industry and Commerce).

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