Travieso Evans Arria Rengel & Paz

News

SIEX (Exempts not-registerable contracts) (Exempts requirement for Investor Credential) (Requires fi

Administrative Ruling No. 1 that exempts the users from filing with SIEX contracts not subject to registration

 

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.

 

Should you have any question or comment or require further information, please contact the partner in charge of your account.

 

Note: The Administrative Ruling was not published in the Official Gazette pursuant to article 72 of the Organic Law of Administrative Proceedings.

 

Administrative Ruling No. 2 that exempts foreign natural persons from the requirement of stay, for purposes of requesting the National Investor Credential

 

Administrative Ruling No. 2 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 foreign natural persons holding a resident visa in the Bolivarian Republic of Venezuela from the requirement of one (1) year minimum and uninterrupted stay in the country for purposes of requesting the National Investor Credential (Credencial de Inversionista Nacional). The rest of the requirements of article 2, number 2 letter (b) of Decree 2.095 have to be met.

 

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.


Administrative Ruling No. 3 that calls the holders of Certificates of Registration of Technological Contribution Contracts to determine fixed duration periods for such contracts

 

Administrative Ruling No. 3 was published in the official web page of the Superintendence of Foreign Investments (Superintendencia de Inversiones Extranjeras – “SIEX”) on May 22, 2014.  The Ruling calls the holders (receivers and providers) of Certificates of Registration of Technological Contribution Contracts, issued up to the date of issuance of the Ruling, that provide for the approval of such contracts with an undetermined term or with a tacit renewal clause, to file with SIEX a contract or addendum modifying the duration of the registered contract, in order to determine it pursuant to article 44, number 5 of Decree No. 2,095.

 

The new contracts or addenda must be filed with SIEX within sixty (60) days following the issue of the Ruling. After the elapsing of said period of time without the interested parties having performed said requirement, the Certificates of Registration granted under such condition will be revoked and without effect as of the issuance of the Ruling.

 

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.”