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Reform of the Law Against the Illicit Exchange of Foreign Currency

In the Official Extraordinary Gazette Number 6117 from December 4th of 2013, the Decree Number 636 was published which contains the Reform of the Law Against the Illicit Exchange of Foreign Currency, in which it is pointed out that legal and natural persons that are residents in Venezuela, that import or exchange foreign currency in and out of the country for an amount that exceeds ten thousand US dollars, will be exempt from declaring their origins to the Venezuelan Central Bank only if they have an account for foreign currency in any national public bank.

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