# Venezuela

 Country code: VE · Currency: VES · Language: Spanish

**Pros**
- Widespread use of US dollars and cryptocurrencies to bypass state-controlled monetary systems and hyperinflation.
- Minimal enforcement of tax regulations and labor laws due to state institutional collapse and informal economy.
- Low cost of living for dollar-earners and access to high-quality private services in specific urban pockets.

**Cons**
- High levels of systemic corruption and legal insecurity threatening private property rights and business operations.
- Severe infrastructure failures including frequent power outages, water shortages, and unreliable internet connectivity across the country.
- Extensive state interventionism and arbitrary regulatory changes creating a volatile and unpredictable business environment.

Long story short: The bolivar is worthless, everyone pays in cash dollars, and the tax office has neither the means nor the will to hunt you down.

The flip side: corruption is everywhere, the rules shift with the whims of whoever holds power, and local banks are best avoided, keep your cash close.

Other than that: in Caracas's wealthy neighborhoods, private security fills in for an absent state, the food is excellent, the landscapes are stunning, and the oil potential remains huge for whoever waits it out.

## Will your income be taxed?

Long story short: YES, A LOT.
They'll shear you for up to **34%** at the top marginal rate in **Venezuela**, and the taxman has *long arms*: linger a bit too long, park your economic interests here, and the net closes.

Steep rate, wide catchment: the classic combo of states that don't let go of their cash cows. Don't expect a plane ticket to fix it.

**01.1 Income tax**

| Metric | Value | Detail |
| --- | --- | --- |
| Personal income tax | 6 → 34% | progressive · 8 brackets |

| Bracket (USD) | Rate |
| --- | --- |
| 0 – 56 | 6% |
| 56 – 83 | 9% |
| 83 – 111 | 12% |
| 111 – 139 | 16% |
| 139 – 167 | 20% |
| 167 – 222 | 24% |
| 222 – 334 | 29% |
| 334 + | 34% |

**01.2 Tax residence test**

_A single active rule is enough to make you tax-resident._

| Metric | Value | Detail |
| --- | --- | --- |
| 183-day rule | exists here |  |
| Economic interest | does not exist here |  |
| Family centre | does not exist here |  |
| Habitual abode | exists here |  |
| Extended-stay test | exists here |  |

## Will your wealth be taxed?

Long story short: YES, A LOT.
**Venezuela** runs the full shearing kit on wealth: capital gains at **34%**, *plus* an annual wealth tax above a threshold (top rate **0.3%**).

Flow, stock, transfer: every angle gets clipped. Holding assets here is how you feed the machine.

**02.1 Investment income**

| Metric | Value | Detail |
| --- | --- | --- |
| Capital gains | 34% | progressive |

| Bracket (USD) | Rate |
| --- | --- |
| 0 – 1 | 6% |
| 1 – 2 | 9% |
| 2 – 3 | 12% |
| 3 + | 16% |
| 3 – 4 | 20% |
| 4 – 5 | 24% |
| 5 – 8 | 29% |
| 8 + | 34% |

| Metric | Value | Detail |
| --- | --- | --- |
| Dividend tax | 34% | flat |
| Interest income | 34% | progressive |

| Bracket (USD) | Rate |
| --- | --- |
| 0 – 56 | 6% |
| 56 – 83 | 9% |
| 83 – 111 | 12% |
| 111 – 139 | 16% |
| 139 – 167 | 20% |
| 167 – 222 | 24% |
| 222 – 334 | 29% |
| 334 + | 34% |

**02.2 Wealth & estate**

| Metric | Value | Detail |
| --- | --- | --- |
| Wealth tax | 0 → 0.3% | progressive · threshold 8,339,850 |

| Bracket (USD) | Rate |
| --- | --- |
| 0 – 8,339,850 | exempt |
| 8,339,850 + | 0.3% |

| Metric | Value | Detail |
| --- | --- | --- |
| Inheritance system | APPLIES | heir-based · 5 heir classes |

| Heir | Top rate | Allowance |
| --- | --- | --- |
| Spouse | — | — |
| Children | — | — |
| Siblings | — | — |
| Other relatives | — | — |
| Non-relatives | — | — |

**02.3 Crypto**

| Metric | Value | Detail |
| --- | --- | --- |
| Crypto · tax regime | PROGRESSIVE | Rate: 34% · Cryptocurrency gains are treated as taxable income under the general Income Tax Law (ISLR), with progressive rates for individuals reaching up to 34%. Under Presidential Decree No. 3.719, taxpayers who generate income in cryptocurrencies must calculate and pay their tax obligations in the same cryptocurrency. Additionally, a 3% Large Financial Transaction Tax (IGTF) applies to payments made in crypto-assets (other than the now-defunct Petro) to 'Special Taxpayers'. While the state-backed Petro was discontinued in early 2024 and the regulator SUNACRIP has faced restructuring, the underlying tax obligations for digital assets remain in effect. |
| Crypto-to-crypto | TAXABLE | each swap counts as a disposal — gains realised at every trade |
| FATF travel rule | NOT SIGNED | no information-sharing obligation on VASP transfers |

## Easy to run a company there?

Long story short: NO.
Corporate tax in **Venezuela** is **34%**, no IP-box mercy, VAT at **16** on top.

Operationally, running a company here is fine; fiscally, the state helps itself to a fat slice of every unit of profit. You do the work, they skim the cream.

**03.1 Rates**

| Metric | Value | Detail |
| --- | --- | --- |
| Corporate tax | 15 → 34% | progressive · +0.5% Science, technology, and innovation contribution (LOCTI) for companies in general economic activities (applied on gross income) · +1% Contribution to support Organic Law on Sports for companies with annual net profit exceeding 20,000 TU (860,000 VES) · +1% Anti-drugs contribution for companies employing 50 or more employees (applied on operating profit) · +9% Special contribution for the protection of pensions applied on total payments to workers for salaries and non-salary bonuses · +20% Windfall tax on extraordinary oil prices (applied on the difference between quoted price and budgeted price per barrel) |

| Bracket (USD) | Rate |
| --- | --- |
| 0 – 111 | 15% |
| 111 – 167 | 22% |
| 167 + | 34% |

| Metric | Value | Detail |
| --- | --- | --- |
| VAT standard rate | 16% | 3 distinct tiers in force |

| VAT family | Category | Rate |
| --- | --- | --- |
| Food & drink | food | 0% |
| Food & drink | non-alcoholic | 16% |
| Food & drink | alcohol | 16% |
| Print media | books | 0% |
| Print media | newspapers | 0% |
| Culture | cultural events | 0% |
| Culture | theatre | 0% |
| Culture | museums | 0% |
| Culture | sports | 0% |
| Transport | public transit | 0% |
| Transport | rail | 0% |
| Transport | air | 8% |
| Hospitality | hotels | 16% |
| Hospitality | restaurants | 16% |
| Hospitality | takeaway | 16% |
| Health | pharma | 0% |
| Energy | electricity | 0% |
| Utilities | water | 0% |
| Digital & telecom | telecom | 16% |
| Digital & telecom | broadcast | 16% |
| Agriculture | farm inputs | 0% |
| Agriculture | animal feed | 0% |

**03.2 Regime & registry**

| Metric | Value | Detail |
| --- | --- | --- |
| IP Box · Patent Box | NONE | no IP regime · IP income taxed under standard corporate rules |
| Misuse of corporate assets | NO CRIMINAL | no criminal liability · Venezuela does not have a specific 'Abuse of Corporate Assets' (Abus de Biens Sociaux) criminal statute. While the Penal Code prohibits 'Apropiación Indebida' (Misappropriation) under Article 466, this offense requires 'perjuicio ajeno' (harm to another). In the case of a solvent company with a sole shareholder, Venezuelan legal doctrine and jurisprudence generally hold that the owner cannot criminally misappropriate from their own entity as there is no third-party victim. Such actions are treated as civil breaches of administrative duties under Article 266 of the Commercial Code or as tax irregularities (de facto dividends) by the tax authority (SENIAT). |
| Shareholders privacy | PUBLIC PAYWALL | Registro Mercantil (Servicio Autónomo de Registros y Notarías - SAREN) |
| Directors privacy | PUBLIC PAYWALL | Registro Mercantil (Servicio Autónomo de Registros y Notarías - SAREN) |

**03.3 Incorporation cost**

_In this country, the most standard company form is called Compañía Anónima (C.A.) (Corporation). The costs below are for incorporating a company in its simplest form, for reference only._

| Metric | Value | Detail |
| --- | --- | --- |
| SAREN Registration and Notary Fees (anchored to Petro unit) | USD 17 |  |
| Legal and Professional Incorporation Services | USD 58 |  |
| Mandatory Commercial Publication in Local Newspaper | USD 12 |  |
| Total | USD 87 |  |

## A good fit for a holding?

Long story short: NOT REALLY.
**Venezuela** has a *moderate* **33**-treaty network, but no participation exemption: dividends from subsidiaries land straight in the corporate schedule (**34%**).

Fine for operational subsidiaries; as a pure holding base, you're feeding the local taxman at every distribution.

**04.1 Substance & exemptions**

| Metric | Value | Detail |
| --- | --- | --- |
| Territorial · individuals | WORLDWIDE | worldwide income taxation regardless of source |
| Territorial · corporates | WORLDWIDE | worldwide corporate taxation |
| Participation exemption | NONE | no dividend participation exemption regime |
| CFC rules | APPLY | Venezuela utilizes an international fiscal transparency system targeting entities in low-tax regions. Under this regime, domestic taxpayers must report income from controlled foreign subsidiaries on an accrual basis and are required to declare these specific investments to the tax authorities. |

**04.2 Withholding tax · non-resident**

| Metric | Value | Detail |
| --- | --- | --- |
| WHT · dividends | 34% | non-resident outbound |
| WHT · interest | 32.3% | non-resident outbound |
| WHT · royalties | 30.6% | non-resident outbound |
| Tax-haven WHT | NONE | no punitive rate on record |

**04.3 Treaty network**

| Metric | Value | Detail |
| --- | --- | --- |
| Treaties signed | 31 | active |
| Treaties pending | 2 | in negotiation |

## Easy to come and go?

Long story short: SOME.
**Venezuela** taxes your worldwide income while you're resident, but at least the exit is free: *no exit tax* on the way out.

Leaving costs you paperwork, not money; your unrealised gains walk out the door with you, untouched.

**05.1 Exit & dual nationality**

| Metric | Value | Detail |
| --- | --- | --- |
| Exit tax | NONE | no triggers active · residence change tax-free · no deemed-disposal mechanism |
| Dual citizenship | ALLOWED | naturalised citizens may keep their existing nationality |

**05.2 Citizenship paths**

| Metric | Value | Detail |
| --- | --- | --- |
| Residence | 10 years | available path to naturalisation |
| Marriage | 5 years | available path to naturalisation |
| Birth | jus soli | available path to naturalisation |
| Descent | 1 gen | available path to naturalisation |
| Investment | — | not available |

## Is your money watched?

Long story short: NO.
Foreign tax offices see next to nothing of what you do in **Venezuela**: it has signed *few exchange frameworks*.

But the *corporate registries are public*: your shareholdings and directorships are one search away for anyone curious. Invisible from abroad, on display at home.

**Multilateral reporting frameworks — 0/9 active**

| Item | Status | Detail |
| --- | --- | --- |
| CRS | None | — |
| CARF | None | — |
| FATCA | None | — |
| MLI | None | — |
| BEPS | None | — |
| MAAC | None | — |
| GLOBAL FORUM | None | — |
| EOIR | None | — |
| CRYPTO TRAVEL RULE | None | — |

## Is it blacklisted?

Long story short: YES.
**Venezuela** sits on an **international embargo list** (UN, US or EU sanctions). This is not blacklist friction, it's the financial death penalty: correspondent banking is gone, payment rails refuse the corridor, and simply transacting with the country can put *you* on a sanctions desk's radar.

Whatever the tax math says, the jurisdiction is radioactive. Walk away.

**Blacklist exposure — Listed by 2 authorities**

| Item | Status | Detail |
| --- | --- | --- |
| EMBARGO | Listed | un / us / eu sanctions |
| FATF | Listed | grey / black list |
| EU | Clear | non-cooperative list |
| FRANCE | Clear | ETNC list |
| SPAIN | Clear | tax-haven list |
| PORTUGAL | Clear | favourable regimes |
| BRAZIL | Clear | low-tax list |

## Do you feel free there?

Long story short: NO.
Press freedom in **Venezuela** is *locked down* (RSF rank **\#160**). Independent media and civic space operate under pressure (when they operate at all), and that kind of grip usually spills over into economic life too.

Small mercy: crypto isn't formally banned.

**08.1 Press freedom**

| Metric | Value | Detail |
| --- | --- | --- |
| Press freedom · RSF index | 160/180 | score 29 · ↓ 4 ranks year-on-year |

Central bank digital currency

NONE

no announced CBDC program · no pilot · no retail or wholesale prototype on record

## Connected to the world?

Long story short: COMPLETELY CUT OFF.
**Venezuela** is unplugged from the global money grid: **2/11** of the services we track work here. No *Stripe*, no *Amazon*, and almost nothing around them either.

Whatever your plan is, the payment layer gets built from scratch, with local banks and local rules. Come for other reasons; connectivity isn't one of them.

**Accept payments — 1/6 available**

| Item | Status | Detail |
| --- | --- | --- |
| Stripe | Not available | card payments |
| PayPal | Available | wallet payments |
| Adyen | Not available | enterprise psp |
| Mollie | Not available | eu payments |
| GoCardless | Not available | direct debit |
| Paddle | Not available | merchant of record |

**Bank and move money — 0/3 available**

| Item | Status | Detail |
| --- | --- | --- |
| Wise | Not available | multi-currency |
| Revolut | Not available | personal banking |
| Revolut Business | Not available | business banking |

**Buy and sell on Amazon — 1/2 available**

| Item | Status | Detail |
| --- | --- | --- |
| Amazon | Not available | consumer delivery |
| Amazon Seller | Available | marketplace selling |

  SEE ALSO## Other jurisdictions worth comparing

Picked by similarity of strategic profile to Venezuela. No editorial ranking — neighbours in the same scoring space.

  PROFILE-ADJACENT Same shape, comparable overall friction.

 [   South Sudan SS  → ](https://stateless.sx/en/country/ss) [   Dominica DM  → ](https://stateless.sx/en/country/dm) [   Tuvalu TV  → ](https://stateless.sx/en/country/tv)

  NOTABLY MORE FAVORABLE Same family of strategies, higher total score.

 [   Puerto Rico PR  → ](https://stateless.sx/en/country/pr) [   Argentina AR  → ](https://stateless.sx/en/country/ar) [   Ecuador EC  → ](https://stateless.sx/en/country/ec)

  NOTABLY LESS FAVORABLE Same family of strategies, lower total score.

 [   Iran IR  → ](https://stateless.sx/en/country/ir) [   Cuba CU  → ](https://stateless.sx/en/country/cu) [   Sudan SD  → ](https://stateless.sx/en/country/sd)