Investments
The Official Gazette of the Bolivarian Republic of Venezuela is the official newspaper of the Government of Venezuela. Its function is the publication of laws, regulations, agreements, circulars, orders and other acts issued by the Powers of the Venezuelan Federation, so that they may be duly observed and applied in their respective areas of competence in the national territory.
In this section we have attached the Venezuelan official gazette on foreign investments.
Constitutional Law on Productive Foreign Investment (2017).
Contents
Chapter I. General provisions
Chapter II The foreign investment system
Chapter III Foreign productive investments and their handling
Chapter IV Rights and obligations of foreign investors and investment conditions
Chapter V. Registration and verification
Chapter VI. Control and monitoring
Transitional, exceptional and final provisions
Constitutional law on foreign productive investment
The National Constituent Assembly of the Bolivarian Republic of Venezuela, by virtue of the powers conferred upon it as legislature by the mandate granted to it by the Venezuelan people in democratic, free, universal, direct and secret elections held on July thirtieth, two thousand and seventeen, in accordance with Articles 347, 348 and 349 of the Constitution of the Bolivarian Republic of Venezuela, is hereby constituted,
DECIDED
Chapter I. General provisions
Article 1 Subject matter
The objective of this constitutional law is to establish the principles, policies and procedures for the regulation of foreign productive investment of goods and services in each of its categories in order to achieve a harmonious and sustainable development of the nation. The aim is to promote a productive and diversified contribution of foreign origin that supports the development of the country's existing productive assets. To create a framework that, in accordance with the Constitution of the Bolivarian Republic of Venezuela, the laws and the Plan for the Economic and Social Development of the Nation, promotes and favors investments, giving them legal security, ensuring economic self-sufficiency and contributing to the well-being of the people.
The special legislation that regulates foreign investment in specific economic sectors is to be applied primarily to this constitutional law, including in the hydrocarbons, mining, telecommunications and social media sectors.
Article 2 Objective
The objective of this constitutional law is as follows:
1.Foreign productive investment shall be encouraged to support the comprehensive development of the nation, benefit the people and strengthen the productive and diversified economy.
2. Foreign productive investment is intended to generate technology transfer and value chains, diversify the productive infrastructure, replace imports and promote exports, in compliance with the nation's economic and social development plan.
3. The aim is to ensure that foreign productive investment is developed with regard to national independence and sovereignty, the integrity of the territory, human rights, comprehensive environmental protection and the preservation of life on the planet.
4. The aim is to create dignified, fair and productive employment.
5. Access to foreign financing, foreign currency procurement and new markets is to be expanded.
6. The aim is to attract foreign productive investments that generate foreign currency in non-traditional sectors of Venezuela's economy, whether through import substitution or export promotion.
Legal Counseling
Lawyers you can trust
At the Global Venezuelan Social and Business Club, we understand the difficulties our members may face in Venezuela, especially in the legal arena. That is why we have partnered with trusted lawyers in Venezuela who provide support to our members in legal and juridical matters.
Law
Our attorneys are available to provide legal advice in a wide range of areas, including corporate law, employment law, real estate law, family law, among others. We work closely with our attorneys to ensure our members have access to the best legal services available.
Integral Support
In addition to providing legal advice, our lawyers can also help our members navigate Venezuela's complex legal system and represent them in legal proceedings. Our goal is to provide comprehensive support to our members in all areas where they may need assistance.
Micro investments
Club member
As a member of the Global Venezuelan Social and Business Club, you will have the opportunity to participate in micro investments.
Diversifying the portfolio
This means that you will be able to invest small amounts of money in different financial assets, which will allow you to diversify your investment portfolio and start investing with lower amounts.
Financial education
Our club seeks to promote financial education and savings through investment, and micro-investing is an accessible way for our members to learn how to invest and develop healthy financial habits. If you are interested in learning more about the micro-investing possibilities in our club, feel free to contact us for more information.