Venezuela's New Currency Exchange Law

The Presidency of the Republic published in the Official Gazette No. 6,210 Extraordinary, dated December 30, 2015, Decree No. 2,167, with Rank, Value and Force of Law, against Exchange Control Violations (New Currency Exchange Law). This legislation repeals the Decree with Rank, Value and Force of Law against Exchange Control Violations (Repealed Currency Exchange Law) published in the Official Gazette No. 6150 Extraordinary, dated November 18, 2014, and all provisions in any other regulation that may conflict with the New Currency Exchange Law.

The New Currency Exchange Law provides a series of reforms, among which we would highlight the following:

Production certification system