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The Office of the National Superintendent of Securities authorized the issuance of a minimum of 20 million investment units and a maximum of 40 million with a nominal value of VEF 100 and with a minimum investment amount of VEF 100,000 of the first collective investment entity specialized in the real estate sector, called Fibra One, which is promoted by Fintech Valores Sociedad de Corretaje.

On July 12, 2021, the US Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued Venezuela General License 40 (“GL 40”), “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela.” OFAC concurrently issued related FAQs (FAQ 914 and FAQ 915). Our previous blog posts about US sanctions targeting Venezuela are available here.

Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade. The sessions include trade policy, exports, sanctions, customs, China trade developments and trade developments.

The National Executive issued Decree No. 4,619 of 1 June 2021,which establishes an exemption of the payment for the Value Added Tax, Customs Duties and Customs Service Tariff for Determination of the Customs Regime to imports of various goods and merchandise of certain economic sectors.

The National Executive issued the Decree No. 4,619 of 1 June 2021 (“Decree”) which establishes the exemption of the payment for the Value Added Tax (VAT), Customs Duties and Customs Service Tariff for Determination of the Customs Regime to imports of various goods and merchandise of certain economic sectors.

In brief On 19 January 2020, the Central Bank of Venezuela (BCV) issued new rules on the constitution of legal reserves of banking institutions (“Resolution”).1  The Resolution entered into force on 20 January 2020 and repealed the Resolution No. 20-03-01 (Official Gazette No. 41,840 of 30 March 2020). The legal reserve…

The Office of the National Superintendent of Securities (SUNAVAL) has authorized the Decentralized Stock Exchange of Venezuela, S.A. (BDVE) to act as a decentralized stock exchange as of 19 January 2021 (“Guidelines”),1 after the trial period of 90 days under Guidelines No. 146.

On 21 January 2021, the Office of the National Superintendent for Banking Sector Institutions (SUDEBAN) issued a notice that prohibits banking institutions from carrying out credit operations using foreign currency, without prior authorization from SUDEBAN and the Central Bank of Venezuela (“BCV”) (“Notice”).1

In brief The Ministry of Popular Power for Ecosocialism (“Ministry”) issued Resolution No. 0191 (“Resolution”)1, by which it established the rules on the extended liability of producers, importers and distributors of containers, paper packaging and wrapping, cardboard, plastic, disposable glass and tires (“Products”) for waste use and its incorporation in…