In brief
On 20 January 2022, SAREN issued Administrative Orders No. 001, 002, 003 and 004,[1] which established the fees for rendering services of the public, commercial and principal registries offices and public notaries, respectively.
SAREN issued the administrative orders based on the amendment of the Law of Registries and Public Notaries ("Law") issued by the National Assembly on 6 December 2021.[2] The Law replaced the Tax Unit (TU) with the Petro ("PTR")[3] as the form of payment of fees for acts and procedures before registries and notaries, establishing a maximum margin for the fees.
The TU has a value of VEB 0.02, while the PTR has a value of VEB 259.43,[4] equivalent to approximately USD 56.76. The TU's replacement with the PTR represents an increase of 129,715%.
The Administrative Orders entered into effect on 20 January 2022.
Contents
In further detail
- As an example, the following are the costs of some of the procedures according to Administrative Orders No. 001, 002 and 004.
|
Procedures before the Public Registry Office (Administrative Order No. 001) |
|||
|
Procedure |
Cost in PTR |
Cost in VEB |
Cost in USD |
|
Book stamping |
0.30 |
77.80 |
17 |
|
For each copy of a document |
0.01 |
2.59 |
0.56 |
|
Sale of rights and shares |
5 |
1,297.15 |
283.84 |
|
Transfers |
0.40 |
103.77 |
259.43 |
|
Procedures before the Commercial Registry Office (Administrative Order No. 002) |
|||
|
Procedure |
Cost in PTR |
Cost in VEB |
Cost in USD |
|
Registration of any types of companies and associations of joint ventures |
0.50
*0.20 per sheet |
129.71
51.88 |
28.30
11.30 |
|
Registration of any minutes of shareholders or board of directors' meetings; modifications to the articles of incorporation/by- of personal or joint venture firms and documents declaring the dissolution, liquidation, extinction or extension of its duration |
1
*0.05 per sheet |
259.43
12 |
56.76
2.83 |
|
Stamping of books and certificates, titles, stocks, shares, bonds and any type of commercial document |
0.10
*0.01 per sheet or stamp paper |
25.94
2.59 |
5.60
0.56 |
|
Registration of consortiums, business partnerships or management companies |
10 *1 per sheet |
2,594.30 259.43 |
567.68 56.76 |
|
Procedures before the Public Notary Office (Administrative Order No. 004) |
|||
|
Procedure |
Cost in PTR |
Cost in VEB |
Cost in USD |
|
Granting powers of attorney, as well as their waiver and revocation |
0.02 |
5.18 |
1.13 |
|
Processing original documents for their authentication |
0.10 |
25.94 |
5.67 |
|
Lease contracts for commercial use |
0.50 |
129.71 |
28.38 |
|
Purchase option agreement for real estate |
1 |
259.43 |
56.76 |
|
Transfer |
0.40-1 |
103.77-259.43 |
22.97-56.76 |
2. Exemptions
The following procedures and entities are exempt from the fees established in Administrative Orders No. 001, 002 and 004: (i) the incorporation of small and medium-sized enterprises[5] as well as their first book stamping; (ii) actions carried out by state institutions, entities or agencies; and (iii) others established by special laws.
Please click here to view the Spanish version.
