Reserve company name
Agency: Commercial Registry
To reserve a company name, founders must buy the name search form (busqueda de la denominación) at the Registry.
The cost for the name search is 1 UT and the cost for the name reservation is 2 UT. As of March 2019, the new value of the U.T. increased to VES 50 (Official Gazette N° 41.597).
Time and cost: 4 days, VES 50 (1 UT name search) + VES 100 (2 UT name reservation)
Obtain an approval of the company name
Agency: Commercial Registry
After reserving the company name, the applicant must pay the cited fee at a bank and later return to the Registry to show the bank deposit slip and obtain the company name approval.
Time and cost: 3 days, no charge
Have the company’s constitutive documents and social statutes prepared and legalized by a lawyer
Agency: Lawyer
Legal assessment is required in the procurement of the company incorporation documents; the assessment must follow all formalities cited in Articles 211 to 215 of the Code of Commerce.
Time and cost: 5 days, VES 600,000 to VES 1,550,000
Open a bank account
Agency: Bank
The Mercantile Registry requires evidence of a bank account. Although founders commonly deposit 20% of declared capital, there is no minimum amount; by law, the Registrar determines the required amount.
Time and cost: 1 day, no charge
Register at the local mercantile registry (Registro Mercantil)
Agency: Commercial Registry
Founders must register with the local mercantile registry. This procedure must be done within 30 days of name reservation. The employer must fill out and submit a registration (derechos registrales) form.
Time and cost: 34 days, 1% of the capital + VES 300 (6 UT for a fixed fee) + VES 250 (5 UT for the fiscal rights) + VES 25 (0.05 UT per page of the articles of association) + VES 30 (per page stamp tax for original document, registry copy and company copy).
Publish articles in a local newspaper (Gaceta Forense del Registro Mercantil)
Agency: Local Newspaper
The company’s articles of association must be published in a local newspaper.
Time and cost: 3 days (simultaneous with previous procedure), VES 4000
Register company books
Agency: Commercial Registry
Companies must purchase the books and register corporate books (Shareholders’ Book, Shareholders’ Meeting Minutes Book and, if applicable, Board of Directors Minutes Book) and accounting books (Inventory Book, Daily Book and Ledger).
Time and cost: 1 day (simultaneous with previous procedure), VES 20000 per each book + VES 1.5 (0.06 UT) fixed fee + 5 VES (0.0003 UT per page per registration, each book has 100 pages)
Register at the Tax Authorities (Servicio Nacional Integrado de Administración Aduanera y Tributaria, SENIAT) to obtain a fiscal number (Registro Unico de Información Fiscal, RIF)
Agency: Tax Authority (SENIAT)
The entrepreneur must register at the Registro Unico de Información Fiscal (RIF) to obtain a fiscal number, within SENIAT, the National Integrated Service of Customs and Tax Administration. The company must file an electronic form which is downloaded from SENIAT’s Web page (www.seniat.gov.ve). Such form must be signed by the legal representative and be filed before SENIAT, along with the required documentation, to issue the tax information registry number.
Time and cost: 1 day, no charge
Obtain a tax clearance certificate at municipal level (Instituto Municipal de Aseo Urbano)
Agency: Municipal Institute for Urban Cleaning (Instituto Municipal de Aseo Urbano)
A tax clearance certificate must be obtained.
Time and cost: 1 day, VES 10 (0.2 UT)
Register at the Social Security Institute
Agency: Social Security Institute (IVSS)
Since 2015, applicants must register online at http://registro.ivss.gob.ve:28085/RegistroSolicitudTiuna/home.htm. The application must then be filed in person at the Social Security Institute along with the following required attachments.
- Registration form 14-01 issued by the online system;
- Tax identification number (RIF);
- Cmmercial registry of the company;
- Information of the legal representative of the company (identity card);
- Any public service payment receipt where the compnay’s commercial address is indicated (electricity, telephone, or other).
Once registered online, the entrepreneur needs to file the original documents in person at the social security office. This could take up to 6 months.
Time and cost: 130 days, no charge
Register at National Bank for Housing and Habitat – Banco Nacional de Vivienda y Habitat (BANAVIH)
Agency: Bank for Housing and Habitat (BANAVIH)
The employers must register online http://faovel.banavih.gob.ve/index.php/empleador_login/selectUsuario. The application must then be filed in person at BANAVIH along with the required attachments, to obtain a user identification and password in order to access the employer’s BANAVIH online account.
After completing the online application, the following documents must be submitted at the National Bank for Housing and Habitat: (i) tax identification number (RIF); (ii) commercial registry of the company; and (iii) information of the legal representative of the company (identity card).
Employers must verify their list of employees monthly and pay the contribution.
Time and cost: 1 day (simultaneous with previous procedure), no charge
Register at the National Institute of Socialist Cooperation & Education
Agency: National Institute of Socialist Cooperation & Education
Employers with a minimum of five employees must register at the National Educational Co-operation Institute; the employees’ social security numbers are required.
Register must be done online at http://www.inces.gob.ve/
Time and cost: 1 day (simultaneous with previous procedure), no charge
Register with the Ministry of Labor
Agency: Ministry of Labor
The company and the company employees have to register with the Ministry of Labor. The Registration also includes the Statistics Register and the Department of Hygiene and Safety. The applicants can register online at www.mintra.gob.ve. The application must then be filed in person before the Ministry of Labor along with the required attachments.
Time and cost: 1 day, no charge
Go through a labor inspection (by the Labor Inspectorate)
Agency: Labor Inspector Office
The Labor Inspectorate inspects the business premises.
Time and cost: 14 days, VES 5 (0.1 UT stamp cost)
Obtain fire approval and undergo an inspection
Agency: Fire Department
It is necessary to obtain an approval from the Firefighters’ Department. It takes 8 days for assignment of an operating inspector and 15 – 20 days for a response to be provided. Once the inspector is assigned, he/she will perform an inspection at the place of business to establish whether all security requirements are met. After inspection, an approval from the Agency will be obtained if all the requirements are met.
Time and cost: 28 days (simultaneous with previous procedure), no charge
Obtain conformity of use certificate (zoning permit)
Agency: Municipality
A conformity of use certificate must be obtained. Documents required are the mercantile registration, external building maps, and a photo of the premises.
Time and cost: 15 days (simultaneous with previous procedure), VES 250 (5 UT) + VES 1 (0.02 UT) stamp
Obtain industrial or commercial license from competent municipality
Agency: Municipality
To obtain an industrial or commercial license from a competent municipality, the founders must file copies of registration, a sanitation certificate, the list of the premises, the latest balance sheet and a declaration of the number of employees.
The fees depend on the Municipality in which the company will execute its commercial activities.
Time and cost: 50 days (simultaneous with previous procedure), VES 500 (10 UT) + VES 1 (0.02 UT)
Register at the National Commission for People with Disabilities
Agency: National Council for People with Disabilities (CONAPDIS)
In order to register companies must complete the form provided on line at http://sistemaspruebas.conapdis.gob.ve/publico/deseo_registrarme_empresa.
In order to access the website, companies need to obtain a login and username. Once that is done, registration is done immediately.
Time and cost: 1 day, no charge
Register at the National Superintendence for the Defense of Socioeconomic Rights (SUNDDE)
Agency: National Superintendence for the Defense of Socio-Economic Rights (SUNDDE)
It is necessary to register at the Sole Registry of Venezuelan Individuals and Legal Entities who Develop Economic and Commercial Activities in Venezuela (Registro Unico de Personas Que Desarollan Actividades Economicas, RUPDAE), a registry created by the Organic Law of Fair Prices (November, 2014).
RUPDAE is part of the Superintendence of Fair Prices (Superintendencia de Precios Justos), within the National Superintendence for the Defense of Socioe conomic Rights (SUNDDE).
The registration can be done online at the following site: http://rupdae.superintendenciadepreciosjustos.gob.ve/usuarios/inscripcion or in person. The majority of companies go in person to agency to register.
Time and cost: 1 day, no charge
Register at the National Institute of Prevention, Occupational Health and Safety (INPSASEL)
Agency: National Institute of Prevention, Occupational Health and Safety (INPSASEL)
Companies must register online at the following site.
http://usuarios.inpsasel.gob.ve/login/registro
The procedures provides a registration number which companies will use in further interactions with government after it starts operations.
Time and cost: 1 day, no charge
