How to Start a Business in Venezuela (2026): 8 Steps

By easyco Updated October 12, 2026

To start a business in Venezuela in 2026, most foreign investors form a compañía anónima (C.A.), also called a sociedad anónima (S.A.). It needs at least two shareholders at incorporation, all of its capital subscribed with at least 20% paid in, a statutory auditor (comisario), and registration with the Registro Mercantil, run by the SAREN. After registration, the company publishes its articles, gets its RIF tax number from the SENIAT, registers with the municipality and, as an employer, with the social security and housing funds, and opens a bank account. Foreign investment is also registered under the 2017 foreign investment law. Timelines depend on your documents, the registry and the bank. Contact us for a quote.

Want it handled for you? Talk to Easyco about company formation in Venezuela.

Venezuela is a medium-sized Latin American economy that grew in 2025, largely on higher oil output, with de facto use of the US dollar in everyday business. Inflation is still high, and the operating environment is more complex than in most of the region. Foreign companies that enter do so with careful structuring, documented funds and a sanctions check from day one. This guide explains the legal steps.

Sanctions: what to check first

US sanctions on the Government of Venezuela, including PdVSA, the Central Bank and state-owned companies, remain in force, and the EU, Canada and others keep their own measures. They don’t stop a foreign investor from forming a private Venezuelan company. However, if a US person or the US financial system is involved, dealings with government entities, state-owned banks or listed persons need an OFAC authorization. Since early 2026, OFAC has issued a series of general licenses for certain activities in sectors such as oil and gas, minerals, telecommunications and ports, and for some financial services. Licenses change often, so screen your counterparties and banks before you sign. We confirm the position for your activity at the start.

How to start a business in Venezuela: 8 steps

1. Choose the structure

Compañía Anónima (C.A.) or Sociedad Anónima (S.A.), the most common choice. At least two shareholders at incorporation, who can be individuals or companies of any nationality. The company can later continue with a single shareholder. All of the capital must be subscribed, and each shareholder must pay in at least one fifth (20%) of the shares they subscribe (Código de Comercio, art. 249). There is no fixed statutory minimum: in practice the Registro Mercantil applies its own minimum capital criteria, so we confirm the amount for your activity. It is run by a board (junta directiva) or a sole director, and shareholders appoint a comisario, a statutory auditor who must be an accountant, economist or business administrator.
Sociedad de Responsabilidad Limitada (S.R.L.). Capital divided into quotas, fully subscribed, with at least 50% of cash contributions and 100% of in-kind contributions paid at incorporation (art. 315). It suits smaller, closely held companies.
Branch of a foreign company. Requires the parent company’s apostilled and translated documents, registration with the Registro Mercantil, and specific authorizations in regulated sectors.

2. Reserve the company name

The name is reserved with the Registro Mercantil through the SAREN system before the articles are drafted. We run the search and reservation for you.

3. Prepare the articles of incorporation

The founding document (acta constitutiva y estatutos) sets out the shareholders, name, purpose, capital, administration, comisario and domicile, and must be reviewed and signed (visado) by a Venezuelan lawyer. A physical registered address is required. Shareholders who can’t travel can act through a power of attorney granted abroad. Documents issued abroad must be apostilled and translated into Spanish by a Venezuelan public interpreter.

4. Pay in the capital

Cash capital is deposited in a Venezuelan bank and the deposit slip is filed with the registry. In-kind contributions are supported by an inventory or balance sheet certified by a public accountant. Keep evidence of where the funds came from: registries, banks and the foreign investment registry all ask for it.

5. Register with the Registro Mercantil

The documents are filed with the Registro Mercantil for the company’s domicile, and the registry fees are paid. Once registered, the company exists as a legal entity. It then publishes its articles in a commercial newspaper and has its legal books (shareholder register, minutes, journal, ledger and inventory) stamped.

6. Get the RIF from the SENIAT

The company registers for its Registro Único de Información Fiscal (RIF) with the SENIAT, the national tax authority. The RIF is needed for invoicing, banking and almost every other procedure. The company also registers with the municipality where it operates, for the municipal tax on economic activities (IAE) and its business licence.

7. Register the foreign investment

The Ley Constitucional de Inversión Extranjera Productiva (2017) requires foreign investment to be registered with the ministry in charge of foreign investment. Registration requires the investment to be held in assets located in Venezuela, a minimum amount equivalent to â‚¬800,000, and a commitment to keep it in the country for at least two years. It is what gives the investor the right to remit dividends and, after that period, to repatriate capital. Whether and how this applies to a smaller investment depends on your structure, so we review it with you before you invest.

8. Open a bank account and register as an employer

Banks ask for the registered articles, the RIF, the legal representative’s appointment and ID, and documented origin of funds. Since the 2018 exchange agreement (Convenio Cambiario N° 1, art. 32), companies can hold foreign-currency accounts at Venezuelan banks alongside bolívar accounts, as long as the funds come from lawful sources. Easyco helps you prepare the file and coordinates the account opening. See banking in Venezuela for foreign companies. When you hire, register with the social security institute (IVSS), the housing fund (FAOV) and the training institute (INCES), and with the Ministry of Labour.

Taxes for a new company

Income tax (ISLR): progressive rates of 15%, 22% and 34%, depending on taxable income measured in tax units (UT; Bs 43 since 2 June 2025). Higher rates apply to oil, mining and financial companies. Resident companies are taxed on worldwide income, and the annual return is due within three months after the fiscal year ends.
VAT (IVA): 16% standard rate, 8% reduced rate on certain items, and 0% on exports.
Tax on large financial transactions (IGTF): 3% on payments made in foreign currency or cryptocurrency, among other cases.
Municipal tax (IAE): on gross income from activities in each municipality, at rates set by the municipality.
Pension protection contribution: 9% of salary and non-salary payments to employees, declared monthly (in force since May 2024).
Dividends: dividends paid out of taxed profits aren’t subject to withholding. Amounts above the company’s net taxable income are subject to a 34% withholding.

See how Easyco handles tax and accounting for you.

Hiring in Venezuela

At least 90% of a company’s workforce must be Venezuelan, and foreign staff can’t receive more than 20% of total payroll. Employer contributions include the IVSS (9% to 11%), the housing fund (2% employer, 1% employee) and INCES (2% of payroll for companies with more than five employees), plus the 9% pension contribution. Employment protection (inamovilidad) currently runs until December 2026, which limits dismissals without prior authorization. Our payroll team keeps these filings up to date.

How long does it take?

It depends on how quickly apostilled documents and powers of attorney are ready, on the registry, on the SENIAT and municipal registrations, on the foreign investment registration and on bank onboarding. We give you a schedule with your quote.

FAQ

Can a foreigner own 100% of a Venezuelan company?

Generally yes, outside strategic or reserved sectors. A C.A. needs at least two shareholders at incorporation, which can be you and a company you own.

Do US sanctions stop me from forming a company in Venezuela?

Not by themselves. Sanctions target the government, state-owned entities and listed persons, so the question is who you will deal with and which banks you will use. Check before you sign.

Do I need to travel to Venezuela?

Shareholders can usually sign through a power of attorney granted abroad. If you plan to visit, check the visa rules first: see visa processing for Venezuela.

How much does it cost?

It depends on the structure, capital and services you need. Contact us for a quote.

Easyco services in Venezuela

Company formation and legal representation
RIF and municipal registration
Foreign investment registration support
Corporate bank account opening
Tax and accounting and payroll
Visa processing

Weighing the market first? Read why foreign businesses are returning to Venezuela.

Start your company in Venezuela with Easyco. We coordinate the lawyer, the Registro Mercantil, the RIF, the foreign investment registration and the bank account, and we can stay on for monthly tax filings and payroll.