Yes, a foreigner can own a company in Venezuela, and in most cases set it up without living there. This guide explains what the law actually requires, what it costs, how long it takes and where foreign investors usually go wrong — with the official source for every figure.
By Abogados en Venezuela · reviewed by Abg. Adelaida Victoria Mata de Pérez, lawyer licensed in Venezuela · updated 11 September 2026
Venezuela is reopening to foreign trade. The Hydrocarbons Law was reformed in January 2026, direct flights with the United States resumed in April and with Spain (Iberia and Air Europa) in September, and day-to-day business already runs largely on US dollars. Inflation is still very high (over 500% year-on-year in August 2026, according to the Central Bank), so prices and contracts are normally agreed in dollars.
Two realities matter for planning:
Yes. There is no general nationality requirement for shareholders. A foreigner can own and manage a Venezuelan company, and to register as a shareholder a passport is enough.
The exceptions are sector-specific. Road transport of passengers and cargo is reserved to Venezuelans and resident foreigners (Land Transport Law, art. 100), and hydrocarbons, mining, banking, insurance, telecommunications and media require specific authorizations. If your business falls in one of these sectors, the structure has to be designed before incorporating; fixing it afterwards means amending the articles, paying the registry again and losing months.
For almost every foreign investor, the answer is a C.A.
“One shareholder is enough.” The Civil Code defines a company as a contract between two or more persons (art. 1649), and in practice the Mercantile Registry incorporates a C.A. with at least two shareholders. Afterwards, one shareholder may end up holding all the shares without dissolving the company (Commercial Code, art. 341).
“The minimum capital is X dollars.” The Commercial Code sets no minimum capital for a C.A. What does exist is a reasonableness check: the registrar can reject a capital that is clearly insufficient for the business described (Registries and Notaries Law, art. 57.1).
“You must appoint a resident local director.” No rule requires a Venezuelan shareholder. What you do need, in practice, is someone in Venezuela for the in-person steps — a partner, a representative or your attorney-in-fact — and a foreign director may need the appropriate visa.
| Concept | Amount | Source |
|---|---|---|
| Registration fee | 2% of the subscribed capital | SAREN Providencia 002, art. 5.14 (Official Gazette 42.301, 20 Jan 2022) |
| Registration tax | 1% of the subscribed capital | Registries and Notaries Law, art. 90.3.a |
| Name search, books, powers of attorney | Fixed fees in the official schedule | SAREN Providencia 002 |
| Statutory auditor (comisario) and opening balance | Professional fees of a Venezuelan public accountant | Commercial Code, art. 247 |
Example: with US$10,000 of declared capital, the percentage-based fees are about US$300. Two requirements that few guides mention are the comisario (a statutory auditor every C.A. must appoint) and an opening balance sheet certified by a Venezuelan public accountant; budget for both.
| Step | Typical time |
|---|---|
| Pre-registration of foreign shareholders (SAREN) | From 2 weeks to several months, as reported |
| Incorporation at the Mercantile Registry | 5–10 business days |
| Company tax ID (RIF, SENIAT) | Within 30 days of incorporation |
| Social security and payroll registrations (IVSS, INCES, FAOV) | After the RIF |
| Municipal business license | About 30 business days |
| Work visa | Depends on the consulate and your passport |
The Constitutional Law on Productive Foreign Investment (Official Gazette 41.310, 29 December 2017) sets a minimum of €800,000 to register a foreign investment (art. 19), which can be lowered to no less than 10%. Below that amount you can incorporate and operate normally (art. 38), but you do not obtain the foreign investor certificate nor the statutory right to repatriate capital and dividends (arts. 25 and 28).
That is why capital and financing must be planned before incorporating, not after. Check also whether your country has a bilateral investment treaty with Venezuela — Spain's, for example, has been in force since 10 September 1997 — because it protects your investment regardless of that registration.
Your company can support your work visa; the exact requirements depend on your passport and are checked case by case. Over time, residence can lead to Venezuelan citizenship: the Constitution requires at least 10 years of continuous residence, reduced to 5 years for nationals of Spain, Portugal, Italy, Latin America and the Caribbean (art. 33).
Venezuelan banks apply enhanced due diligence to companies with foreign shareholders, and some nationalities take longer. It is often the slowest step after the pre-registration, so start preparing the file early and do not promise suppliers a date before the account is open.
A new company can register in the National Contractors Registry (RNC) with an opening balance; no track record is required. In 2026 most public demand comes from the oil sector — PDVSA and its joint ventures — so every contracting entity must be screened against OFAC and EU sanctions before you bid, and payments of that origin should never be mixed with your bank accounts abroad.
We are a Venezuelan law firm that sets up companies for foreign investors from start to finish. Our Turnkey Company package (US$5,000, for 1 or 2 shareholders) covers the structure opinion, incorporation, tax and payroll registrations, municipal license, importer registration, one work visa and the corporate bank account. The Turnkey Investor package (US$6,000) adds up to 5 foreign shareholders or a holding company, a second work visa and trademark registration. You pay by phases: each phase is paid when it begins, starting with Phase 0 (US$600).
Yes. A foreigner can own and manage a Venezuelan company. Only some sectors, such as road transport of people and cargo, are reserved to Venezuelans and resident foreigners, and others need specific authorizations.
In most cases, yes. You sign a power of attorney in your country, with apostille or consular legalization, and a Venezuelan attorney acts for you. Someone must sign in person at the registry, which can be your attorney-in-fact.
The official fees are about 3% of the declared capital, plus small fixed fees and the professional fees of a lawyer and a public accountant. Our turnkey packages cost US$5,000 or US$6,000, paid by phases.
There is no legal minimum. The capital must be fully subscribed and at least 20% of each shareholder's shares paid in, and the registrar can reject a capital that is clearly insufficient for the business.
The incorporation takes 5–10 business days once the foreign shareholders' pre-registration is approved; that pre-registration has been reported to take from two weeks to several months.
Not as a general rule. A company can be 100% foreign-owned, except in reserved sectors. You will need someone in Venezuela for the in-person steps.
Yes. Your company can support your work visa; the requirements depend on your passport and are checked in advance.
Yes, but below the €800,000 threshold for registering a foreign investment there is no statutory repatriation right, so financing and profit distribution should be planned before incorporating.
This guide is general information and does not constitute legal advice for a specific case. Requirements and criteria change by office and over time; confirm your case before acting.