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The investment process in Venezuela

From decision to operation, in six stages.

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General route010203040506010203Hydrocarbons: special law
01

Who is involved at each stage

01

Documents

Powers of attorney and documents, apostilled or legalized.

02

Incorporation

Corporation or branch, at the Commercial Registry.

03

Tax ID (RIF)

After incorporation or start of activities.

04

Foreign investment

Rights take effect from registration.

05

Municipal license

Each municipality has its own ordinance.

06

Operation

Foreign-currency accounts and team.

You
At every stage
Country of origin
Apostille
Commercial Registry
Recording
SENIAT
RIF
Competent ministry
Registration
City Hall
License
Venezuelan banks
FX accounts
Relative timing
Variable
Medium
Short
Variable
Medium
Variable
  1. 01

    Documents

    Powers of attorney and documents, apostilled or legalized.

    BeforeCountry of originApostille

    Relative timingVariable
  2. 02

    Incorporation

    Corporation or branch, at the Commercial Registry.

    BeforeCommercial RegistryRecording

    Relative timingMedium
  3. 03

    Tax ID (RIF)

    After incorporation or start of activities.

    BeforeSENIATRIF

    Relative timingShort
  4. 04

    Foreign investment

    Rights take effect from registration.

    BeforeCompetent ministryRegistration

    Relative timingVariable
  5. 05

    Municipal license

    Each municipality has its own ordinance.

    BeforeCity HallLicense

    Relative timingMedium
  6. 06

    Operation

    Foreign-currency accounts and team.

    BeforeVenezuelan banksFX accounts

    Relative timingVariable

Indicative bars: short, medium or variable. They do not represent days.

Sources01 Hague Apostille Convention, in force in Venezuela since 199902 Código de Comercio (Commercial Code), arts. 215 and 35403 SENIAT Ruling SNAT/2026/00080, Official Gazette 43,435, 202604 Constitutional Law on Productive Foreign Investment, arts. 9 and 2505 Maracaibo Ordinance on Economic Activities License and Tax, 202406 Exchange Agreement No. 1, BCV; LOTTT (Organic Law on Labour and Workers)

Special Economic Zones have their own regime. Source: Organic Law on Special Economic Zones (2022)

Tanker passing under the bridge over Lake Maracaibo
Lake MaracaiboPhoto: Wilfredor · Wikimedia Commons · CC0
02

If the project is in hydrocarbons

Your project
Is your project in hydrocarbons?
No
General routeStages 01 to 06
Yes
Exploration and productionRights over primary activities
The special law applies first
  1. 01

    The State

    Directly or through companies it wholly owns.

  2. 02

    Joint ventures

    More than 50% of the capital, public.

  3. 03

    Contracts

    Private companies domiciled in Venezuela, with a State company.

Oilfield servicesA 100% private company, foreign or local capital
General routeStages 01 to 06, with a C.A. or a branch
If the client is PDVSA, a subsidiary or a joint ventureRegistration in the National Contractors Registry.

The 2009 law that reserved certain related services to the State was repealed in 2026.

Your project
Is your project in hydrocarbons?
No
General routeStages 01 to 06
Yes
Exploration and productionRights over primary activities
The special law applies first
  1. 01

    The State

    Directly or through companies it wholly owns.

  2. 02

    Joint ventures

    More than 50% of the capital, public.

  3. 03

    Contracts

    Private companies domiciled in Venezuela, with a State company.

Oilfield servicesA 100% private company, foreign or local capital
General routeStages 01 to 06, with a C.A. or a branch
If the client is PDVSA, a subsidiary or a joint ventureRegistration in the National Contractors Registry.

The 2009 law that reserved certain related services to the State was repealed in 2026.

Source: Organic Hydrocarbons Law, arts. 10 and 23 and Second Repealing Provision, Official Gazette 6,978 Extraordinary, 29-01-2026; Public Procurement Law, arts. 3 and 47; Constitutional Law on Productive Foreign Investment, art. 1

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General information. Not legal advice.