Bolivarian Republic of Venezuela
Capital: Caracas HDI: 0.764 (67th)
GDP (PPP): $538.9 billion
Currency: Bolívar Fuerte
Population: ~ 29.3 million
Venezuela is built on oil production; the country is blessed with a wealth of natural resources and has some of the world’s largest oil reserves. Oil accounts for about 95% of export revenues and 11% of national GDP, and thus the country’s economy is dependent on international oil demand. The government is very much focused on the wellbeing of its citizens, setting social development goals that have reduced poverty and increased education. Some of the other main economic activities in the country include manufacturing and agriculture which could be further developed. Because of its wealth of natural resources and its social development goals, Venezuela has a lot of economic potential.
Venezuela Economy – overview
Venezuela remains highly dependent on oil revenues, which account for roughly 96% of export earnings, about 45% of budget revenues, and around 12% of GDP
Venezuela Overview – World Bank
On the economic front, Venezuela has benefited from the historically high international oil prices of the past decade, which have enabled increased government spending on ambitious programs.
Industry Trends & Business Climate
Doing Business in Venezuela
This site summarizes Doing Business 2015 data for the República Bolivariana de Venezuela
World Bank: Socialist Venezuela
A new World Bank report paints a stark portrait of the business climate in Venezuela while looking optimistically at neighboring Colombia, as well as Mexico and even Guatemala.
Establishing a Presence
Starting a Business in Venezuela
This site from the World Bank is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Venezuela. It examines the procedures, time and cost involved in launching a commercial or industrial firm.
Setting up your Business in Venezuela
This site addresses the question: What type of Business Structure should we use?
- Starting a Business in Venezuela http://www.doingbusiness.org/data/exploreeconomies/venezuela/starting-a-business
Venezuela Personal Income Tax Rate
The Personal Income Tax Rate in Venezuela stands at 34 percent.
venezuela – KPMG
Resident individuals in Venezuela will pay taxes on their income of any origin. Nonresident individuals will be subject to tax on
the earnings that are sourced or have originated in Venezuela
- Venezuela Sales Tax Rate http://www.tradingeconomics.com/venezuela/sales-tax-rate
Venezuela Corporate Tax Rat
The Corporate Tax Rate in Venezuela stands at 34 percent.
Paying Taxes in Venezuela
This site provides a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes
Venezuela – US Department of State
See “Entry, Exit & Visa Requirements
Visa policy of Venezuela
Visitors to Venezuela must obtain a visa from one of the Venezuelan diplomatic missions unless they come from one of the visa exempt countries
Telecommunications in Venezuela
This site discusses telephone, broadband and internet services in Venezuala
Getting around Venezuela on local transport
A summary of all forms of public transportation in Venezuela
Venezuela Public Transportation
Venezuela – Telecom Market Trends
With economic slowdown, high inflation and falling prices for the country’s key export commodity, the general outlook for 2015 is not promising. Nevertheless, the country’s telecom market is expected to grow steadily, led by 3G and LTE services as well as by satellite-based pay TV services and the nascent IPTV sector.
Labor Market Regulation in Venezuel
This site provides a detailed summary of some of the labor regulations that would apply to local entrepreneurs wishing to hire workers, organize working schedules, or make workers redundant for economic reasons in Venezuela.
Venezuela Employers Beware
As of May 7, 2013, employers in Venezuela must comply with the new wage and hour law established one year ago under Venezuela’s employment law reform act, known as the Organic Law of Labor and Workers
Employment and employee benefits in Venezuela
A Q&A guide to employment and employee benefits in Venezuela.
Cost of Living in Venezuela
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
Business Etiquette – Venezuela – Language, Culture, Customs and Etiquette
See “Etiquette & Customs” on this site
Safety – Venezuela – US Department of State
Go to “Safety and Security” on this US Department of State site
Safety – Venezuela 2015 Crime and Safety Report
Despite recent government efforts to curb firearms, Venezuela is the most weaponized place in the world. In a country of 29 million people, there is roughly one gun for every two people. There is no evidence to indicate criminals are specifically targeting U.S. citizens.
Climate – Venezuela Weather, Climate and Geography
Venezuela’s location perched 8° above the equator, means it generally enjoys a balmy warm climate. Temperatures don’t fluctuate wildly, hovering between 26°C (79°F) and 28°C (82°F) and making the country something of an all year round destination. The coastal regions on the Caribbean feel balmiest, and the lowland areas also enjoy a tropical climate.
Climate – What Is the Climate Like in Venezuela?
Venezuela rests firmly in the tropics, making the South American country void of traditional seasons. But the mix of Caribbean coastline with the Andes Mountains and Guiana Highlands throws some variation into how the weather feels in different areas.
Education – Facts on Venezuela’s Education System
The standard of education in Venezuela is among the highest in the region. Of Venezuelans aged 15 and older, 93.4% can read and write, one of the highest literacy rates in the region. Although the Venezuelan education system is overextended and underfunded, the Venezuelan government remains committed to the idea that every citizen is entitled to a free education.
Cost of Living – What living in Venezuela costs
The value of Venezuela’s bolivar is falling, and locals are paying more and more for goods.
Business Etiquette – Venezuela – International Business Etiquett
The dos and don’ts of business etiquette in Venezuela
Education – Venezuela Education System
This site describes all levels of public education in Venezuela
Holidays and observances in Venezuela
National and bank holidays and observances
Demographics -Venezuela Demographics Profile
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
Demographics of Venezuela
Statistics indicate that Venezuela is the sixth most populous country in the South American continent. More than 85% of the population lives in the urban area primarily in the northern part due to its rich fertile land.
Import tariffs, documentation procedures and restrictions
SICE: Countries: Venezuela : Trade Policy
Information on trade agreements in force by country
Bolivarian Republic of Venezuela and the WTO
This site provides key information on the Bolivarian Republic of Venezuela’s participation in the WTO. The Bolivarian Republic of Venezuela has been a WTO member since 1 January 1995 and a member of GATT since 31 August 1990.
Housing and Rentals
Caracas Hotels, Hostels & Accommodation
Hotel and apartment options in cities in Venezuela
Where to stay in Venezuela – World Travel Guide
A guide to hotels, hostels, campsites and other accomodations
Lonely Planet Venezuela
Venezuela is a land of stunning variety. The country has Andean peaks, endless Caribbean coastline, idyllic offshore islands, grasslands teeming with wildlife, the steamy Amazon and rolling savanna punctuated by flat-topped mountains called tepuis.
Venezuela Travel Guide and Travel Information
Expert Venezuela travel guide including detailed information about everything you need to know about Venezuela.