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Authorization to import disassembled vehicles

A Joint Resolution of the Ministries of the People’s Power for Economy, Finance, Public Banking, and for Industries was published in Official Gazette No. 40.345 of January 30, 2014 (the “Resolution”). Said Resolution authorizes the importation of disassembled vehicles, under the Regime of Imported Assembly Material for Vehicles (Régimen de Material de Ensamblaje Importado para Vehículos - “MEIV”), intended for national production.

 

In order to obtain the authorization to import under the MEIV Regime, the Resolution establishes that the interested companies must execute an assembly agreement with the Ministry of the People’s Power for Industries. Afterwards, they must file a request for MEIV Qualification with the same Ministry. Said request will include – among other data – the lists of MEIV, which must contain only the parts, pieces, and components that are strictly necessary for the assembly of each vehicle. The goods specified in said lists may enter the country through the authorized customs under this Regime.

 

The Ministry of the People’s Power for Industries will review and evaluate the lists of MEIV and issue the MEIV Qualification for the company requesting the same. The qualification will be a prior essential requirement to file the request for (i) Authorization under the MEIV Regime with the National Integrated Service of Customs and Tax Administration (“SENIAT”) and (ii) Authorization for Assignment of Foreign Currency (Autorización de Asignación de Divisas - “AAD”) with the Foreign Currency Administration Commission (Comisión de Administración de Divisas - “CADIVI”), in lieu of the Certificate of No National Production or Insufficient Production.

 

The authorizations under the MEIV Regime will be valid for a maximum period of one (1) year, which will be indicated in the relevant official letter.  During the period of validity, the qualification and authorization may be subject to changes that broaden their scope. The MEIV will be subject to a three percent (3%) ad valorem charge.

 

The Resolution repeals the Joint Resolution of the Ministry of the People’s Power for Planning and Finance and for Science, Technology, and Intermediate Goods Industry, published in Official Gazette No. 39,415 of May 3, 2010.

 

The Resolution became effective on February 4, 2014.

 

In order to access the Resolution, please click here.

 

“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”