Business entities in Venezuela in 2022

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The Venezuela limited liability company (Sociedad de Responsabilidad limitada or S.R.L)

The Venezuela LLC is not a very common type of entity as one of the requirements for incorporation is minimum paid-up share capital of not less than US$4 and not more than US$400. The LLC must appoint at least one director and one shareholder of any nationality.

The Venezuela publicly limited company (SA)

Venezuela business officeThe Venezuelan PLC is the business entity most commonly used by foreign entrepreneurs in order to access to the Venezuelan market. Minimum paid-up capital is not a requirement for setting up a Venezuela PLC and only one shareholder and one director are required for the incorporation process.

The Venezuela branch office

The parent company of the branch is legally responsible for all operations of the branch. Venezuela branch office can be 100% foreign owned and as stipulated by Venezuela Corporate law, the branch is authorized to conduct business within the country.

The Venezuela representative office

A representative office is restricted by law to be incorporated only for banking or other financial institutions. The incorporation process may take more than 6 months.

Table of comparison between Venezuela entities

  LLC PLC Branch Rep
office
How long to set the company up? 20 weeks 25 weeks 25 weeks 25 weeks
Legal Liability Limited Limited Unlimited Unlimited
Wholly Foreign owned Yes Yes Yes Yes
Minimum paid-up share capital US$4 US$0 US$0 US$0
Minimum directors allowed 1 1 1 1
Minimum shareholders 1 1 1 1
Resident director required No No No No
Corporate shareholders allowed Yes Yes Yes Yes
Corporate director(s) allowed Yes Yes Yes Yes
Corporate Tax Rate 34% 34% 34% 34%
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Shelf companies

  Nominee company Shelf Company New company
Our order of preference 1 2 3
Summary at a glance
Estimated total cost of this engagement US$47,550 US$58,960 US$42,820
When can the company issue invoices and execute contracts? 1 month 1 month 6 months
Estimated timeframe to totally complete the engagement 6 months 6 months 10 months
Time to provide our Client with company and bank account number and tax number? 1 month 1 month 6 months
Estimated timeframe to change the corporate structure? 5 months 5 months 0
How long before our Client can issue sales invoices and sign contracts? 1 month 1 month 6 months
How long until our Client can legally hire staff in the country? 1 month 1 month 6 months
Paid up share capital required Yes Yes Yes
Physical office required to be leased within 5 months Yes Yes Yes
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Contact us

For additional information on our business setup services in Venezuela, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi