Travieso Evans Arria Rengel & Paz

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New circular on transactions through SICAD II

On July 23, 2014 the Venezuelan Central Bank (“VCB”), in coordination with the Ministry of the Popular Power for Economy, Finance, and Public Banking, published a circular that partially amended the previous circular dated March 20, 2014, related to the instructions for foreign currency purchase processing and sale transactions through the Alternative Foreign Currency Exchange System (Sistema Cambiario Alternativo de Divisas - “SICAD II”).

 

In order to access the circular, please click here:

http://www.bcv.org.ve/c5/sicad2/circular250714.pdf

 

“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.”