ANNOUNCEMENT 19 Jul 2012

In July 2012, the government of Venezuela announced a change in repatriation and surrender requirements.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Convenio Cambiatorio Nr 20/14.07.2012, http://www.venamcham.org/images/stories/Convenio_Cambiario_N_20.pdf

Convenio Cambiatorio Nr 20/14.07.2012, Official Gazette Nr. 39.968/19.07.2012, http://www.tsj.gov.ve/gaceta/Julio/1972012/1972012-3479.pdf#page=32

2011 Investment Climate Statement, http://www.state.gov/e/eb/rls/othr/ics/2011/157383.htm

Foreign Investment in the Bolivian Republic of Venezuela, http://venezuela-us.org/inversion-extranjera-en-la-republica-bolivariana-de-venezuela/#5


Inception date: 19 Jul 2012 | Removal date: open ended
Still in force

Repatriation & surrender requirements

On July 19, 2012, the Bolivian Republic of Venezuela (according to Convenio Cambiatorio Nr 20/14.07.2012, published in Official Gazette Nr. 39.968/19.07.2012) partially liberalised its foreign exchange controls in place since 2003. Concretely, it allows foreign juridical persons that participate in strategic state investment projects to hold funds with non-Venezuelan origin in foreign currency-denominated accounts in local banks.
 
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A