Venezuela, RB

Ease of Doing Business in

Venezuela, RB

This page summarizes Doing Business 2013 data for the República Bolivariana de Venezuela. The first table lists the overall "Ease of Doing Business" rank (out of 185 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

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Economy Summary
Starting a Business
Dealing with Construction Permits
Getting Electricity
Registering Property
Getting Credit
Protecting Investors
Paying Taxes
Trading Across Borders
Enforcing Contracts
Resolving Insolvency
Region Latin America & Caribbean
Income Category Upper middle income
Population 29,278,000
GNI Per Capita (US$) 11,920
Doing Business 2013 Rank Doing Business 2012 Rank Change in Rank
180 179 down -1

Doing Business 2013 DTF** (% points) Doing Business 2012 DTF** (% points) Improvement in DTF** (% points)
37.6 36.8 down 0.8
Topic Rankings DB 2013 Rank DB 2012 Rank Change in Rank
Starting a Business 152 147 up -5
Dealing with Construction Permits 109 110 up 1
Getting Electricity 160 160 No change
Registering Property 90 93 up 3
Getting Credit 159 165 up 6
Protecting Investors 181 181 No change
Paying Taxes 185 185 No change
Trading Across Borders 166 167 up 1
Enforcing Contracts 80 78 up -2
Resolving Insolvency 163 164 up 1

Economy Profile

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Starting a Business

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The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2013 Rank 152 DB 2012 Rank 147 Change in Rank down-5
DB 2013 DTF** (% points) 46.8 DB 2012 DTF** (% points) 47.0 Improvement in DTF** (% points) down-0.2
YearNew business densityNumber of new limited liability companies
2011 3.0021,624
Indicator Venezuela, RB Latin America & Caribbean OECD

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 Procedures (number)
17 9 5

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 Time (days)
144 53 12

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 Cost (% of income per capita)
27.7 33.7 4.5

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 Paid-in Min. Capital (% of income per capita)
0.0 3.7 13.3
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 VEB 5,000-8,000
4 Open bank account 1 day no charge
5 Register at the local mercantile registry (Registro Mercantil) 30 days 1% of capital + VEB 180 (2 UT) (fixed fee) + VEB 450 ( 5 UT) fiscal rights (fixed fee) + 9 VEF ( 0.1 UT) per page + 18 VEF per page stamp tax (for original document, registry copy and company copy)
* 6 Publish articles in a local newspaper (Gaceta Forense del Registro Mercantil) 3 days (simultaneous with previous procedure) VEF119
* 7 Register company books 1 day (simultaneous with previous procedure) VEF 120 per each book +0.03 UT (VEF 2,28) fixed fee + 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 20
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 450 (5 UT) + VEF 1.8 (0.02 UT) stamp
* 16 Obtain industrial or commercial license from competent municipality 50 days (simultaneous with previous procedure) VEF 900+VEF 1.8
* 17 Register at National Bank for Housing and Habitat - Banco Nacional de Vivienda y Habitat (BANAVIH) 1 day no charge
* Takes place simultaneously with another procedure.

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the indicators across all economies included in Doing Business since each indicator was included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

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