Tentmaker Reports

Venezuela, RB Report

Entrepreneurial Missions Index


General Information


28,834,000 (42nd most populous country in the world)

Roman Catholic96%
Indigenous Dialects


Petroleum, construction materials, food processing, textiles, iron ore mining, steel, aluminum, motor vehicle assembly

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Venezuela, RB, visit https://www.cia.gov/library/publications/the-world-factbook/geos/ve.html.

Business Information

The World Bank ranks Venezuela, RB as 175 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Venezuela, RB.

In order to start a business in Venezuela, RB, one must follow these procedures:

  1. Reserve company name
  2. Obtain an approval of the company name
  3. Lawyer must prepare and legalize the company’s constitutive documents and social studies
  4. Open bank account
  5. Register at the local mercantile registry
  6. Publish articles in a local newspaper
  7. Register company books
  8. Register at the local Servicia Nacional Integrade de Administracion Aduanera y Tributaria (SENIAR) with Registro Unico de Informacion Fiscal (RIF) to obtain fiscal number
  9. Obtain tax clearance certificate at municipal level
  10. Register with the Ministry of Labor
  11. Go through a labor inspection
  12. Registration for social security at a local regional fund
  13. Register at the National Education Co-operation Institute
  14. Obtain fire approval and undergo an inspection
  15. Obtain conformity of use certificate
  16. Obtain industrial or commercial license from competent municipality

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Venezuela, RB, visit http://www.doingbusiness.org/.


To learn more...


Venezuela, RB Economic Freedom

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.† It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.† The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.† The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.

Venezuela, RB Summary


1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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