Doing business in Venezuela

Hi julien

What kind of business you would like to open in Venezuela?
all the answer to your questions will the depend on

All the best
Daniel Petermann

Hi Daniel !

These are general questions for any kind of business.

Regards
Armand

All the things that I'm about to write are for personal experiences

If you dont live in Venezuela and just want to open a Company you will need someone in Venezuela with at least 1% of the actions of the company could be a friend or a lawyer with the legal power to do things in your behalf.

To register a company the cost could be around 9.000 Bolivares near a 1.000 Dolars for legal paperwork with a public accountant.
this will include (selecting the name, accounting books, redaction of the document, taxes, etc. company in the hand and ready to start.
the company dosen't need to be open with money but you will need to include some inventory with more you open the company more taxes to paid but less chances to get credit with financial institutions (I can help for turism developments or turism inversions).

Taxes are 12% for whatever you sale or give a receive and have to be paid every month, this taxes are a chain, you paid for whatever you buy 12% but you charge for whatever you sale 12%
then you will have anual taxes that is 5%, but the real amount will be depend on your business expenses etc.

About recruiting I believe it will be no problem, what king of people you will need ? sales persons, labors, engineers, sailors?

This is complete chapter to discuss, but in general speaking you need to take extra caution with the laws of employment, less employs you have less headache try to put them by sales percentage if is the case. Now we have a law of irremovability, so you will need a very very good proof to fired someone, or try to arrange them with some money or benefits, legal issus can take years to resolve, and will take you out your energy, time, money etc.

1 $ Legal  =  4.30 Bolivares
1 $ Black  =  8.66 Bolivares (today) 29/02/2012

I hope this will give you some idea but if you need to know something in more details I will be more than happy if I can help.

Saludos
daniel

Thanks for sharing your experience with us Daniel.

Harmonie.

Hola a todos,queria poneros una pregunta.Venezuela es un pais que puede contar con muchas minas de oro y crudo.Lo que me interesa es el tema del oro,al mirar los precios por gramos y si lo tengo bien entendido me parecen muy altos.Igual puede pasar que no tengo muy clara la conversion de BSF en euro!Por ejemplo alguien me puede aclarecer que significa vender una cadena de oro 750 18 kilates y peso 10,5 que sale como a 7.000 BS?Lo que digo es que por 10,5 gramos de oro te costa 7.000 BS y ese sueldo corresponden a 1290 euro y eso me parece una locura.Les agradezco por
adelantado por contestarme,saludos

Hello markquail and welcome to Expat.com!

Can you please write in english on this Anglophone forum?

Thank you,
Aurélie

Hey Auréliez,I'm just looking for a couple of answers.Venezuela is a country with so many gold and crude mines.The object that interest to me is the gold's one.I gave a look to the gold market in Venezuela and it looks like,eventhough I could be wrong,that the price for a gram of gold is very high.I don't know if you have got any knowledge about the bolivares fuerte.The fact is that the Venezuela's market gold ask for a gram of gold about 500/550 bolivares fuerte.For example a necklace of gold 750 18 carat weighted 10,5 grams the price in question is 7.000 bolivares fuerte.What I mean that it doesn't seem right because doing the conversation 7.000 bolivares fuerte amount to 1290 euros and this sounds just crazy!Now,it's probably that I haven't understand doing the conversation.Could you help me to make clear this step?

Hello markquail.

I think you should start a new thread on the Venezuela forum and explain your problem clearly.

I am sorry, I cannot help you. I do not know much about market gold business.

Thank you,
Aurélie

Hi Aureliez,

The best thing to do is to get near places where gold mines are and find the local people.

I am happy to help you if you need a person who speaks the language.

Just get in touch.

Lucy