Properties in Venezuela

Investor guide · updated weekly

Buying Commercial Property in Venezuela: An Investor’s Guide

Each point below is one entry with its legal basis, its source and the date we last checked it. Official sources are the law, the Gaceta Oficial or a government body; law-firm and news sources are labelled. Sources are re-checked every week, and anything we cannot confirm is marked.

Last weekly review: October 2, 2026 (58 points checked). Every point verified on or after October 2, 2026.

This guide explains rules and practice; it is not legal or tax advice. Laws and rates in Venezuela change often and are applied unevenly. Have a Venezuelan lawyer (abogado) review your specific purchase, and check your own country’s sanctions and tax rules.

Who can buy

Ownership rules for foreigners and foreign companies, and what you need before you can sign.

Foreigners and foreign companies may own property

The Constitution guarantees private property, and foreign investment is subject to the same conditions as national investment. There is no general ban on a foreign individual or company owning commercial property in Venezuela.

Legal basis:
Constitución arts. 115 and 301
Last verified:
October 2, 2026

Coastal and security zones

The 1976 rule that required Defence Ministry permission for foreigners buying in border and coastal security zones was repealed in 2002. The law that replaced it lets the government declare security zones (including coasts and islands) and leaves property rules to special regulations; we found no regulation in force for Margarita. One Margarita lawyer reports that foreign buyers in Nueva Esparta are asked to file a letter with the regional military command (ZODI-71). That is reported practice, not a published rule: ask your lawyer.

Legal basis:
Ley Orgánica de Seguridad de la Nación (G.O. 37.594, 2002) arts. 47-52, 61
Official source:
Ley Orgánica de Seguridad de la Nación (text) (December 18, 2002)
Last verified:
October 2, 2026
Sources disagree or are thin on this point.

Foreigners must pre-register online with SAREN before each signing

Since August 2022, every foreign national who signs at a Registro or Notaría must first file a 'Registro de Extranjeros' request on the SAREN portal and wait for approval, for each act. Reported uploads are the passport, immigration document and a criminal-record certificate. Waits of weeks to months were reported in 2022; build this into your timeline.

Legal basis:
SAREN administrative practice (no published Gaceta rule found)
Last verified:
October 2, 2026

Tax number (RIF) and ID for both parties

Registries ask buyer and seller for current identification and a Venezuelan tax number (RIF), the spouse's consent where the seller is married, and proof that the price was paid by bank transfer or cheque. A company buyer also shows its corporate documents, the representative's ID, the company RIF and a labour-compliance certificate. Foreign non-residents obtain a RIF from SENIAT with their passport. Requirements vary by registry office.

Legal basis:
Registry practice; Ley de Registros y Notarías arts. 99-112
Last verified:
October 2, 2026

Which visa you need to sign in person

U.S. and Canadian citizens need a Venezuelan visa. A 2014 resolution required foreigners signing property and company acts at registries and notaries to hold a business-type visa (TR-N, TR-I or TR-E), not a tourist visa; we could not confirm whether registries still apply it in 2026. Signing through an apostilled power of attorney avoids the question (see the purchase steps).

Legal basis:
Resolución 019, G.O. 40.332 (13 Jan 2014)
News report:
Banca y Negocios: requisitos vigentes (2024) (October 19, 2024)
Last verified:
October 2, 2026
Sources disagree or are thin on this point.

Sanctions checks for U.S., Canadian and EU investors

Your own government’s rules apply to you wherever the property is.

U.S. sanctions are targeted, not an embargo

OFAC's Venezuela program does not ban dealing with the country or its people. A U.S. person may buy from a private Venezuelan seller as long as no blocked person is involved: the Government of Venezuela, anyone on OFAC's SDN list, or an entity 50% or more owned by them. Screen the seller, the seller's owners, any broker and the receiving bank.

Legal basis:
Executive Order 13884; 31 CFR Part 591
Last verified:
October 2, 2026

The Venezuelan state is still blocked

EO 13884 blocks all property of the Government of Venezuela, including agencies, the central bank (BCV), PDVSA and entities they own 50% or more. Without an OFAC licence, a U.S. person may not buy property from a state body or state company, or close a deal where a state bank is the creditor.

Legal basis:
Executive Order 13884 (5 Aug 2019)
Official source:
OFAC FAQ 680 (January 9, 2023)
Last verified:
October 2, 2026

2026 relief came as general licences, mostly outside real estate

Since January 2026 OFAC has issued or amended about 17 Venezuela general licences, almost all for oil, gas, power, mining, telecoms and ports; none addresses real estate. The executive orders have not been revoked, so the relief can be withdrawn. GL 57 (14 Apr 2026) authorises financial services involving the BCV, Banco de Venezuela, Banco del Tesoro and Banco Digital de los Trabajadores; BANDES is not named in it.

Legal basis:
OFAC General Licenses 46-62 (2026)
Official source:
OFAC: Venezuela-related sanctions program page (September 28, 2026)
Last verified:
October 2, 2026

Paying Venezuelan taxes and fees

OFAC General License 35 lets U.S. persons pay taxes and fees to the Venezuelan government and buy permits, licences, registrations and utility services when these are ordinarily part of day-to-day operations. Whether it covers every registry fee and transfer tax on a purchase is not stated by OFAC; confirm with U.S. sanctions counsel.

Legal basis:
OFAC General License 35
Official source:
OFAC FAQ 803 (November 5, 2019)
Last verified:
October 2, 2026

Canada and the EU

Canada's Special Economic Measures (Venezuela) Regulations freeze the assets of listed individuals and ban dealing in their property; there are no sector-wide bans. The EU renewed its measures on 15 December 2025 until 10 January 2027: an arms embargo plus asset freezes and travel bans on listed individuals. Canadian and EU buyers should screen sellers against their own lists.

Legal basis:
SOR/2017-204 (Canada); Council Regulation (EU) 2017/2063
Official source:
Council of the EU: Venezuela measures renewed (December 15, 2025)
Last verified:
October 2, 2026

Buying personally or through a company

Holding the property in your name, through a Venezuelan company, or under the foreign-investment regime.

The foreign-investment law and property purchases

Foreign investment is governed by the 2017 Ley Constitucional de Inversión Extranjera Productiva. Registering an investment requires at least €800,000 and capital stays two years before repatriation; registered investors may send up to 100% of profits abroad yearly. The law aims at productive investment and says buying real estate does not require its investment contract, so a passive property purchase may not count as registrable investment at all. Confirm with Venezuelan counsel.

Legal basis:
Ley Constitucional de Inversión Extranjera Productiva (G.O. 41.310, 29 Dec 2017) arts. 7, 19, 26, 28, 38
Last verified:
October 2, 2026

Holding through a foreign or a Venezuelan company

Under the Commercial Code a foreign company whose main business is in Venezuela is treated as Venezuelan, and foreign companies operating here must register and publish their documents at the commercial registry. Whether a foreign company holding a single property must domicile here is not settled by the sources we found; many buyers use a Venezuelan company (C.A.) instead. U.S. owners of a foreign company may have extra IRS filings.

Legal basis:
Código de Comercio art. 354
Last verified:
October 2, 2026

Disputes and investment treaties

The 2017 investment law sends disputes to Venezuelan courts. Venezuela left the ICSID convention in 2012. There is no U.S.-Venezuela investment treaty; treaties with Canada, Spain, the UK, Portugal, Switzerland and others remain in force and allow other arbitration routes, but whether a property purchase is a protected investment depends on each treaty. Domestic commercial arbitration is governed by the 1998 Ley de Arbitraje Comercial.

Legal basis:
2017 investment law art. 6; Ley de Arbitraje Comercial (G.O. 36.430, 1998)
Last verified:
October 2, 2026

Due diligence

What to check about the title, the debts on the property, its permitted use and any tenants before you commit.

Check the title history

Ask the registry for certificates of ownership, encumbrances (gravámenes) and court measures on the property. Actions over real property prescribe in 20 years, and a good-faith buyer under a registered title acquires by prescription after 10 years, which is why title searches usually cover 10 to 20 years. No law fixes the search period.

Legal basis:
Código Civil arts. 1.977, 1.979; Ley de Registros y Notarías art. 40
Official source:
Código Civil (text) (July 26, 1982)
Last verified:
October 2, 2026

Municipal tax clearance and cadastral record

The registrar may not register a sale without proof that the seller paid the advance income tax and a municipal tax clearance (solvencia) for the property. The property description must include its cadastral code, so a current municipal cadastral record (cédula or ficha catastral) is needed. Each Margarita municipality sets its own paperwork.

Legal basis:
Ley de Registros y Notarías arts. 47-48, 97
Last verified:
October 2, 2026

Permitted use and occupancy

For a building, the municipality's planning variables (zoned use, density, setbacks, height) decide what it may be used for, and the completion record received by the municipality is what makes it legally occupiable. For commercial property, ask for the zoning certificate (constancia de variables urbanas or conformidad de uso) and the habitability record before you sign.

Legal basis:
Ley Orgánica de Ordenación Urbanística (G.O. 33.868, 1987) arts. 84-87, 95
Official source:
Ley Orgánica de Ordenación Urbanística (text) (December 16, 1987)
Last verified:
October 2, 2026

Units in buildings and shopping centres

A unit (local or office) in a building can only be sold once the building's condominium deed is registered, with approved plans and habitability permits. Unpaid condominium charges follow the unit, so a buyer can be pursued for the seller's arrears: get a paid-up certificate from the building administrator.

Legal basis:
Ley de Propiedad Horizontal (G.O. 3.241 Ext., 1983) arts. 13, 26, 32-33
Official source:
Ley de Propiedad Horizontal (text) (August 18, 1983)
Last verified:
October 2, 2026

Tenants may have the right to buy first

A commercial tenant (local) of more than two years who is current on rent must be offered the property first, through a notary, before it is sold to someone else. If that step is skipped, the tenant can step into the buyer's place for up to six months. Offices fall under the older 1999 lease law, which has a similar preference. Ask for proof the offer was made or waived.

Legal basis:
Decreto 929 (G.O. 40.418, 2014) arts. 38-40; Decreto-Ley de Arrendamientos Inmobiliarios 1999 arts. 42-49
Last verified:
October 2, 2026

Beachfront land: the 80-metre public strip

The sea and a strip of at least 80 metres inland from the highest tide line are public domain, as are beaches, dunes and mangroves, without prejudice to rights lawfully acquired by private parties. For a beachfront hotel or lot, confirm the title predates the rule or is otherwise lawfully held, and check access restrictions.

Legal basis:
Ley de Zonas Costeras (G.O. 37.319, 2001, reprinted G.O. 37.349) art. 9
Other source:
Ley de Zonas Costeras (text) (December 19, 2001)
Last verified:
October 2, 2026

The purchase, step by step

From the option contract to the registered deed.

The option contract (opción de compraventa)

Most purchases start with an opción de compraventa, usually signed at a notary, with a deposit and a penalty clause. The Supreme Court's civil chamber now decides case by case whether an option is a preparatory promise or already a sale, by its actual terms (2025). If the deposit is called arras, the Civil Code lets the innocent party keep it or claim double. Have a lawyer draft it.

Legal basis:
Código Civil art. 1.263; TSJ Sala de Casación Civil sent. 00176 (23 Apr 2025)
Last verified:
October 2, 2026

A lawyer drafts and signs off the deed

Every document filed at a registry or notary must be drafted and signed off (visado) by a lawyer registered with Inpreabogado. The deed states the parties, the property's location, area, boundaries, cadastral code and any existing charges. Unless agreed otherwise, the buyer pays the deed costs.

Legal basis:
Ley de Registros y Notarías arts. 23, 48; Código Civil art. 1.491
Last verified:
October 2, 2026

Registration: deadlines on paper

The registrar has three business days from filing to register a document; if the parties do not come to sign within 60 calendar days, the filing lapses and fees are lost. A refusal must be reasoned within 30 days and can be appealed. The registrar checks the title and the registry record only. Real turnaround is often longer than the legal deadline.

Legal basis:
Ley de Registros y Notarías arts. 39, 42-44
Last verified:
October 2, 2026

Buying from abroad with a power of attorney

A power of attorney for a registry act must itself be granted in a public form. It can be signed at a Venezuelan consulate, or before a notary in your country and apostilled (Venezuela, the U.S. and, since January 2024, Canada are parties to the Apostille Convention). A foreign power typically also needs a sworn Spanish translation. Consulate appointments can take months.

Legal basis:
Código Civil art. 1.169; Ley Aprobatoria del Convenio de La Haya (G.O. 36.446, 1998)
Last verified:
October 2, 2026

Taxes and costs of buying

What is paid at signing and who pays it.

The seller's 0.5% advance income tax

Before the deed is signed or registered, the seller pays an advance of 0.5% of the sale price (not of the gain) on income tax and shows the receipt; the registrar may not register the sale without it. The exemption for a seller's main home does not apply to commercial property, and the 3,000 tax-unit floor is worth only about USD 150 today, so in practice every commercial sale pays.

Legal basis:
Ley de Impuesto sobre la Renta (G.O. 6.210 Ext., 2015) art. 86; Ley de Registros y Notarías art. 97
Other source:
Ley de Impuesto sobre la Renta, Título VI (text) (December 30, 2015)
Last verified:
October 2, 2026

Registry fee: the legal cap

The fee to register a sale is tiered on the property's value: up to 0.5%, 1% and, for most commercial properties, 2%. The amounts were set in petros, a unit the government shut down in January 2024; SAREN says its fees are unchanged, and we found no rule saying how they are now converted.

Legal basis:
Ley de Registros y Notarías (G.O. 6.668 Ext., 16 Dec 2021) art. 83(7)
Last verified:
October 2, 2026

Registry fees in practice can be far higher

The national real estate chamber reported that registries charge 5% to 40% of a property's value, against the 2% legal cap, because registrars reassess properties well above the agreed price. Get a written estimate from the specific registry office before you set your budget.

Last verified:
October 2, 2026

VAT on the purchase price

Ordinary VAT (IVA) does not apply to the sale of real estate. A 2020 reform created an extra 5-25% IVA on property sales paid in foreign currency, but it applies only once the government fixes the rate by decree, and we found no such decree. Construction services are taxed at 16%, which developers usually build into the price.

Legal basis:
Ley del IVA art. 27 (as reformed, G.O. 6.507 Ext., 29 Jan 2020)
Law or tax firm:
Derysoc: principales reformas de la Ley de IVA (February 1, 2020)
Last verified:
October 2, 2026

The 3% IGTF on the price

If you pay the price in dollars from a Venezuelan bank's foreign-currency account, the bank collects 3% IGTF. Cash dollars or a foreign transfer to a seller who is not a SENIAT 'special taxpayer' fall outside it; paying a special taxpayer in foreign currency outside the banks is taxed at 3%. IGTF is not deductible for income tax.

Legal basis:
Ley de IGTF (G.O. 6.687 Ext., 25 Feb 2022) art. 4(5)-(6), art. 18
Law or tax firm:
Moore Venezuela: IGTF (September 1, 2025)
Last verified:
October 2, 2026

Agent commission

No law sets it. About 5% of the price is the customary reference, with a market range of roughly 3-7%, usually paid by the seller. Agree it in writing.

Legal basis:
Custom; no statute
Last verified:
October 2, 2026

Municipal paperwork at closing (example: Arismendi)

Municipal certificates are cheap next to registry fees. Arismendi's 2025 fee ordinance, for example, charges 10 units for a cadastral record, 6 for a property-tax clearance and 10 for a general municipal clearance, each unit worth the BCV rate of the euro. Other municipalities set their own amounts.

Legal basis:
Ordenanza sobre Tasas por Servicios Administrativos, Municipio Arismendi (2025)
Official source:
Arismendi: Ordenanza de tasas administrativas 2025 (January 1, 2025)
Last verified:
October 2, 2026

Paying, banking and moving money

Dollars, transfers, the tax on foreign-currency payments, and getting money back out.

The 3% tax on foreign-currency payments (IGTF)

Payments in foreign currency or crypto made through the Venezuelan banking system, or to SENIAT-designated special taxpayers, carry a 3% IGTF. A cash payment between two private individuals outside the banking system is generally not taxed. How it applies to a price paid from abroad is unclear; ask your lawyer how your payment will be routed.

Legal basis:
Ley de Reforma de la Ley de IGTF (G.O. 6.687 Ext., 25 Feb 2022)
News report:
Prodavinci: IGTF y pagos en dólares (April 6, 2022)
Last verified:
October 2, 2026

Bank accounts for foreigners

A 2022 SUDEBAN circular lets foreigners open a basic account with a passport and an interview; higher tiers need a RIF and proof of income. Banks may still ask for immigration status. For U.S. persons, state-owned banks are covered by OFAC General License 57 (2026); private banks need screening only.

Legal basis:
SUDEBAN circular (Feb 2022); OFAC GL 57
News report:
Banca y Negocios: Sudeban flexibiliza requisitos (February 10, 2022)
Last verified:
October 2, 2026

The official exchange rate

From 1 July 2026 the central bank publishes a daily official rate, the weighted average of banks' exchange desks. The bolívar fell from 301 per dollar on 1 January 2026 to 859 on 30 September 2026, so any amount set in bolívares, such as a fee or a rent, loses value quickly.

Last verified:
October 2, 2026

Reporting at home: U.S. and Canada

U.S.: Venezuelan real estate held directly is not reported on Form 8938, but an interest in a foreign company holding it is, and Venezuelan bank accounts trigger an FBAR if they total more than $10,000 at any time in the year. Canada: rental or commercial property abroad counts toward the C$100,000 threshold for Form T1135.

Legal basis:
IRS Form 8938 / FinCEN 114; CRA Form T1135
Official source:
IRS: comparison of Form 8938 and FBAR requirements (September 19, 2026)
Last verified:
October 2, 2026

Owning and renting it out

Annual taxes, commercial lease rules, and licences to operate.

Annual municipal property tax

Each municipality taxes urban property on its cadastral value, under national ceilings set in December 2023: 1% a year for commercial and service use, 0.75% for industrial, 1.5% for unbuilt land. Taxes must be paid in bolívares, though municipalities may peg amounts to the BCV euro rate. Porlamar (Mariño) gives a 20% discount for paying the year in January.

Legal basis:
LOCAPTEM (G.O. 6.755 Ext., 2023); Resolución 011-2023 (G.O. 6.783 Ext., 29 Dec 2023)
Last verified:
October 2, 2026

Commercial leases: the 2014 decree still applies

Leases of commercial premises (locales) are governed by the 2014 Decree-Law on commercial leases; no repeal or reform was found. The housing rental law of August 2026 excludes commercial premises and hotels. Offices fall under the older 1999 lease law.

Legal basis:
Decreto 929 (G.O. 40.418, 23 May 2014); Ley del Régimen Especial de Arrendamiento de Inmuebles Destinados a Vivienda (G.O. Ext. 7.065, 7 Aug 2026) art. 2
Last verified:
October 2, 2026

How commercial rent must be calculated

The decree allows three methods: a fixed rent from a formula based on an appraised property value and an annual return rate (12% in the first year, up to 20% for new shopping centres), a variable rent of 1-8% of the tenant's gross sales (8-15% for entertainment), or a mix. If landlord and tenant cannot agree, SUNDDE, not a court, sets it.

Legal basis:
Decreto 929 arts. 31-32; TSJ Sala Político-Administrativa sent. 0039 (16 Feb 2022)
Other source:
Acceso a la Justicia: cánones de uso comercial (February 16, 2022)
Last verified:
October 2, 2026

Rent in dollars

The decree still forbids setting rent in foreign currency, but the Supreme Court's civil chamber upheld a dollar-denominated commercial lease in June 2024, provided the tenant may pay the bolívar equivalent at the BCV rate on the payment date. This rests on case law, not a change in the statute.

Legal basis:
Decreto 929 art. 41(e); TSJ Sala de Casación Civil sent. 335 (6 Jun 2024)
Last verified:
October 2, 2026

Term, extension and deposit

Commercial leases run at least one year. When one ends, the tenant may stay on the same terms for a legal extension of 6 months to 3 years depending on how long they have been there. The landlord may take either a cash deposit or a guarantee, not both, of up to three months' rent.

Legal basis:
Decreto 929 arts. 19, 24, 26
Last verified:
October 2, 2026

Grounds to end a commercial lease

The decree lists the grounds for eviction (desalojo), including two consecutive months unpaid, misuse, serious damage, unauthorised change of use or subletting, the end of the contract and its legal extension, and justified demolition or major works. The owner needing the premises for personal use is not a ground. Disputes other than the rent amount go to the civil courts.

Legal basis:
Decreto 929 arts. 40, 43
Last verified:
October 2, 2026

Business licence and fire certificate

Municipalities require a business licence (licencia de actividades económicas), usually after a zoning approval. In Nueva Esparta, every municipality must see the state fire department's compliance certificate before issuing a business, building or habitability permit. The 2023 tax-harmonisation law caps the municipal business tax at 3% of gross income (up to 6.5% for listed activities) and sets licences at three years minimum.

Legal basis:
Ley de Tasas del Cuerpo de Bomberos de Nueva Esparta (G.O.E. E-5.544, 2022) art. 5; LOCAPTEM (G.O. Ext. 6.755, 10 Aug 2023)
Last verified:
October 2, 2026

Hotels and posadas: tourism registration and licence

Every tourism business must register in the Registro Turístico Nacional and hold a tourism licence for each activity, renewed every two years. Tourism businesses pay a contribution of 1% of monthly gross income to INATUR. Building, expanding or buying property for tourism use needs a MINTUR feasibility approval. The ministry may also regulate lodging rates.

Legal basis:
Decreto-Ley Orgánica de Turismo (G.O. Ext. 6.152, 18 Nov 2014) arts. 36, 39-40; Res. 019 (G.O. 40.413, 2014)
Last verified:
October 2, 2026

VAT on commercial rent, and the Margarita exemption

On the mainland, commercial and office rent is taxed at the general 16% IVA rate. The IVA law exempts services carried out within the Nueva Esparta free port, which commentators read as covering rent charged by a landlord domiciled on the island for island premises. We found no SENIAT ruling on rent specifically; ask your accountant.

Legal basis:
Ley del IVA art. 17; Ley del Puerto Libre del Estado Nueva Esparta
Law or tax firm:
Baker McKenzie: Doing Business in Venezuela 2026 (January 1, 2026)
Last verified:
October 2, 2026
Sources disagree or are thin on this point.

Income tax on rent

When the tenant is a company or a property manager, it withholds income tax from the rent: 3% for a resident individual landlord, 5% for a domiciled company, 34% of the gross for a non-resident individual. Final tax: resident individuals 6-34% of net income, non-residents a flat 34%, companies 15-34%. Venezuela has tax treaties with the U.S., Canada and others, which generally let Venezuela tax income from property located there.

Legal basis:
Decreto 1.808 (G.O. 36.203, 1997) art. 9; Ley de Impuesto sobre la Renta (2015)
Law or tax firm:
PwC Worldwide Tax Summaries: Venezuela (September 30, 2026)
Last verified:
October 2, 2026

Municipal tax on business income

Municipalities tax gross receipts of businesses, capped at 3% (6.5% for listed sectors such as bars, alcohol and banking; property leasing is not among them). Each municipality's ordinance sets the actual rate.

Legal basis:
LOCAPTEM (G.O. 6.755 Ext., 2023); Resolución 011-2023 Appendix I
Last verified:
October 2, 2026

Condominium fees

Owners of units in a building or shopping centre pay common expenses in proportion to the unit's share stated in the condominium deed. When leasing a commercial unit, administration fees charged to the tenant on common expenses may not exceed 10%.

Legal basis:
Ley de Propiedad Horizontal arts. 7, 11-12; Decreto 929 art. 41
Official source:
Ley de Propiedad Horizontal (text) (August 18, 1983)
Last verified:
October 2, 2026

Margarita Island specifics

The Nueva Esparta free-port regime and local practice.

The Nueva Esparta free port

Margarita and Coche are a free port: imported goods are exempt from VAT, tariffs and some excise taxes, though customs fees apply. It does not exempt income tax or change how property is bought, but it supports retail and import tenants. A reform bill from the business chamber was before the National Assembly in 2026 and had not passed when last reported.

Legal basis:
Ley del Puerto Libre del Estado Nueva Esparta (G.O. 37.006, 3 Aug 2000)
Last verified:
October 2, 2026

The Nueva Esparta Special Economic Zone

A 2023 decree made all of Margarita, Coche and Cubagua a Special Economic Zone for fishing, technology and services including tourism and hotels. Its tax, customs and exchange incentives apply only to investors who sign an activity agreement with the zones authority; owning a building does not by itself bring any benefit.

Legal basis:
Decreto 4.884 (G.O. 6.769 Ext., 29 Nov 2023); Ley Orgánica de Zonas Económicas Especiales (G.O. 6.710 Ext., 2022)
Last verified:
October 2, 2026

Selling and exit

Taxes on sale and taking the proceeds home.

Tax on the gain

A gain on sale is ordinary income, taxed at the normal income-tax rates (a flat 34% for non-resident individuals). The 0.5% paid at signing is an advance against that tax, not the final tax.

Legal basis:
Ley de Impuesto sobre la Renta (2015)
Last verified:
October 2, 2026

Gains may be measured in bolívares

Tax inflation adjustment relies on the national consumer price index, and the last one published was for May 2022. A sale that shows little or no gain in dollars can therefore show a large gain in bolívares. How to compute the cost basis is unsettled: get a Venezuelan accountant's view before you sell.

Legal basis:
Ley de Impuesto sobre la Renta, inflation-adjustment rules
Last verified:
October 2, 2026

Taking the proceeds home

Exchange controls were repealed in 2018 and the currency is freely convertible, so no exchange approval is needed to send dollars abroad. The practical limits are banks (correspondent banking, sanctions screening) and taxes: a non-resident seller bears the 0.5% advance and the final income tax before funds leave. Registered foreign investors also have the profit-remittance rights of the 2017 law.

Legal basis:
Convenio Cambiario N° 1 (G.O. 6.405 Ext., 2018); Ley Constitucional de Inversión Extranjera Productiva (2017) arts. 26, 28
Official source:
BCV: Convenio Cambiario N° 1 (September 7, 2018)
Last verified:
October 2, 2026

Risks

What can go wrong, with the sources that document it.

Electricity and water on Margarita

Outages of up to 11 hours were reported in Porlamar and other areas in late September 2026. Piped water supply was reported at about 600 litres per second against 2,800-3,000 of demand, with some sectors going months without service and tanker water at USD 10-15 per 1,000 litres. Budget for generators and water storage.

Last verified:
October 2, 2026

Expropriation and seizures

The law allows takings for public or social benefit against court-set compensation. The business NGO Cedice counted about 2,740 property-rights violations in 2005-2014. In 2009 the government took over the Hilton Margarita complex. We found no reports of seizures of hotels or commercial premises on Margarita in 2024-2026.

Legal basis:
Ley de Expropiación por Causa de Utilidad Pública o Social (G.O. 37.475, 2002)
Last verified:
October 2, 2026

Rule of law

Venezuela ranked 143rd of 143 countries in the World Justice Project Rule of Law Index 2025. Expect slow and unpredictable courts, and rely on careful due diligence and contract drafting rather than on enforcement afterwards.

Last verified:
October 2, 2026

U.S. travel advisory

The U.S. State Department lowered Venezuela from Level 4 to Level 3, 'Reconsider Travel', on 19 March 2026, citing crime, kidnapping, terrorism and poor health infrastructure. Some border and interior states remain Level 4; Nueva Esparta is not among them.

Last verified:
October 2, 2026

Inflation

The central bank reported 200.1% inflation for January-August 2026 and 534.2% year on year. Rents or fees fixed in bolívares lose value fast; see the exchange-rate and lease-currency points.

News report:
El Diario: BCV inflación agosto 2026 (September 4, 2026)
Last verified:
October 2, 2026

There is no published commercial price index

We found no published commercial price or rent index for Margarita. The Nueva Esparta real estate chamber quoted residential asking prices from about USD 267 per m² in parts of Porlamar to about 1,500 per m² around El Morro (November 2025), with no bank financing available. Use comparable listings and an independent appraisal.

Last verified:
October 2, 2026

Commercial property for sale

Shops, offices, warehouses, hotels and commercial land listed on this site, with live prices.

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