Ruling No. 1 exempts filing of non-registerable contracts with SIEX
Administrative Ruling No. 1 was published in the official web page of the Superintendence of Foreign Investments (Superintendencia de Inversiones Extranjeras – “SIEX”) on May 12, 2014. Said Ruling exempts the users from filing with SIEX all the contracts that because of their purpose, nature, and content are not subject to registration.
The contracts subject this Ruling are those referred to copyright licensing and others of a similar nature according to Venezuelan laws, such as: software use license, technical assistance related to software, telecommunications license, license for the distribution and sale of motion pictures, videos and the like, licenses of television productions, theater plays, operas, music performances and arts in general.
SIEX will refrain from receiving such petitions as they are not within the scope of its competence over registration matters.
The Ruling became effective upon the date of its issue.
In order to access the Ruling, please click here.
Note: The Administrative Ruling was not published in the Official Gazette pursuant to article 72 of the Organic Law of Administrative Proceedings.
“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.