Venezuela, RB

Ease of Doing Business in

Venezuela, RB

This page summarizes Doing Business 2016 data for the República Bolivariana de Venezuela. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.

Economy Overview

 
Region Latin America & Caribbean
Income Category High income
Population 30,851,343
GNI Per Capita (US$) 12,820
City covered Caracas
Doing Business 2016 Rank Doing Business 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

Change in Rank
186 184 down -2

Doing Business 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Doing Business 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

35.51 36.30 down -0.79
Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

Starting a Business

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Starting a Business

The steps of launching a business are shown below. Included are: the number of procedures entrepreneurs can expect to go through to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement as a percentage of gross national income (GNI) per capita.

DB 2016 Rank 186 DB 2015 Rank
X

DOING BUSINESS 2015 RANK

Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.

182 Change in Rank down-4
DB 2016 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

40.38 DB 2015 DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

45.23 Change in DTF (% points)
X

DISTANCE TO FRONTIER SCORE

The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...

down-4.85

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Venezuela, RB Latin America & Caribbean OECD high income
Procedures (number)
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Procedures (number)

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

View methodology

17 8.3 4.7
Time (days)
X

Time (days)

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

View methodology

144.0 29.4 8.3
Cost (% of income per capita)
X

Cost (% of income per capita)

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

View methodology

88.7 31.0 3.2
Paid-in min. capital (% of income per capita)
X

Paid-in min. capital (% of income per capita)

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

View methodology

0.0 2.8 9.6
No. Procedure Time to Complete Associated Costs
1 Reserve company name 4 days 0.5 UT (name search) + 2 UT (name reservation)
2 Obtain an approval of the company name 3 days no charge
3 Lawyer must prepare and legalize the company’s constitutive documents and social statutes 5 days VEF 50,000 to VEF 100,000
4 Open bank account 1 day no charge
5 Register at the local mercantile registry (Registro Mercantil) 30 days see comments
* 6 Publish articles in a local newspaper (Gaceta Forense del Registro Mercantil) 3 days (simultaneous with previous procedure) VEF 250
* 7 Register company books 1 day (simultaneous with previous procedure) VEF 140 per each book + VEF 4.5 (0.03 UT) fixed fee + 45 VEF (0.001 UT per page per registration, each book has 100 pages)
8 Register at the local Servicio Nacional Integrado de Administración Aduanera y Tributaria (SENIAT) with Registro Unico de Información Fiscal (RIF) to obtain fiscal number 1 day no charge
9 Obtain tax clearance certificate at municipal level (Instituto Municipal de Aseo Urbano) 1 day VEF 30 (0.2% Tax Unit)
10 Register with the Ministry of Labor 1 day no charge
11 Go through a labor inspection (by the Labor Inspectorate) 8 days VEF 0.1 x UT (stamp cost)
12 Register for social security at a local regional fund 90 days no charge
* 13 Register at the National Institute of Socialist Cooperation & Education 1 day (simultaneous with previous procedure) no charge
* 14 Obtain fire approval and undergo an inspection 28 days (simultaneous with previous procedure) no charge
* 15 Obtain conformity of use certificate (zoning permit) 15 days (simultaneous with previous procedure) VEF 750 (5 UT) + VEF 3 (0.02 UT) stamp
* 16 Obtain industrial or commercial license from competent municipality 50 days (simultaneous with previous procedure) VEF 1500 (10 UT) + VEF 3 (0.02 UT)
* 17 Register at National Bank for Housing and Habitat - Banco Nacional de Vivienda y Habitat (BANAVIH) 1 day (simultaneous with previous procedure) no charge
  * Takes place simultaneously with another procedure.

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