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Investment vehicles compared

Six structures to enter the Venezuelan market.

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6vehicles
01

Six structures

Capital contributionContractVehicle

  1. 01

    Corporation (C.A.)

    Your own Venezuelan company, with capital in shares.

    Source: Código de Comercio, art. 201

  2. 02

    Branch

    The parent company itself, domiciled in Venezuela.

    Source: Código de Comercio, art. 354

  3. 03

    Local partnership

    Joint company or agreement with a Venezuelan company.

    Source: Código de Comercio, art. 201

  4. 04

    Distributor or ally

    A local company sells or represents your products.

  5. 05

    Local contractor

    Provides the service with its own resources and staff.

    Source: LOTTT, arts. 47 to 49

  6. 06

    Joint venture or contract

    Only for hydrocarbons exploration and production.

    Source: Organic Hydrocarbons Law, art. 23, 2026

Oilfield services by a 100% private company: a C.A. or a branch, via the general route.

02

How they compare

VehicleEntity in VenezuelaParent controlParent exposureForeign investment registration
Corporation (C.A.)Its ownDirectLimited to contributionYes
BranchThe parent itselfDirectThe parent is liableYes
Local partnershipJointSharedDepends on the formYes
Distributor or allyNone, a third partyBy contractPer the contractNo
Local contractorNone, a third partyBy contractPer the contractNo
Joint venture or contractJoint venture or contractMinority or by contractPer law, contract or bylawsSpecial law first

Relative, qualitative scales derived from each vehicle’s legal form. They do not measure cost or time.

S.R.L. (limited liability company): it exists in the Commercial Code, but its capital cap, set in 1955, has not been updated after the bolívar redenominations. We do not propose it as an option. Source: Código de Comercio, arts. 201 and 315

Bridge over Lake Maracaibo
Bridge over Lake MaracaiboPhoto: Wilfredor · Wikimedia Commons · CC0
03

Which one fits?

  1. 01

    Hydrocarbons exploration and production?

    Yes
    Joint venture or contract
    No
  2. 02

    Is a third party in Venezuela enough?

    Yes
    Distributor or contractor
    No
  3. 03

    With a local partner?

    Yes
    Local partnership
    No
  4. 04

    Separate the parent’s liability?

    Yes
    Corporation (C.A.)
    No
  5. Branch

Which one fits your project?

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General comparison. It does not replace an analysis of your case.