Fees and timelines in 2024
Venezuela LLC setup (S.R.L) costs in Year 1 will amount to US$6,500 and annual company costs in Year 2 and thereafter will amount to US$1,200. The average fee per engagement amounts to US$42,820 including Country company incorporation, corporate bank account setup, legal registered office, RIF application, translations, project management, accounting and tax and all government registration fees.
| Different Venezuela entity types | Cost | Draft invoice |
|---|---|---|
| Tax resident LLC | US$42,820 | View invoice PDF |
| PLC | US$14,100 | Contact us |
| Branch of a foreign company | US$45,620 | View invoice PDF |
| Representative office | US$42,820 | View invoice PDF |
| Nominee Venezuela SRL Company (fast solution) | US$57,240 | View invoice PDF |
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Timelines
The average Venezuela company registration period is 29 weeks as outlined below:
| Service | LLC | PLC | Branch | Rep office |
|---|---|---|---|---|
| Engagement planning | 1 week | 1 week | 1 week | 4 weeks |
| Company incorporation period | 20 weeks | 25 weeks | 25 weeks | 25 weeks |
| Corporate bank account approval | 4 weeks | 4 weeks | 4 weeks | 4 weeks |
| Corporate internet banking approval | 3 weeks | 3 weeks | 3 weeks | 3 weeks |
| Engagement completion | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 29 weeks | 34 weeks | 34 weeks | 37 weeks |
