HellAmericas
Venezuela
40%effective individual rate
Complex crypto situation. Government created Petro cryptocurrency. High tax rates. Crypto widely used to circumvent economic crisis and currency controls.
FATCA Partner
No
FATF Status
Greylist
EU Blacklist
No
Dual Nationality
Allowed
Bitizenship
Not yet
Tax Rates
Capital Gains TaxUp to 34%
Income Tax on CryptoUp to 34%
Corporate Tax34%
VAT on Crypto16%
Activity Taxes
Staking
Taxed as income
Mining
Licensed and taxed
DeFi
Not addressed
NFTs
Not addressed
Taxable Events
Crypto → Fiat
Taxable
Crypto → Crypto
Taxable
Holding Period
No holding period benefit
None
Regulation & Residency
Regulatory Body
SUNACRIP
Residency Requirement
Various visa options
Reporting Requirements
Annual tax return
Citizenship & Residency Path
Residency via work; citizenship after 10 years
Notable Conditions
- →Government Petro cryptocurrency
- →Hyperinflation drives crypto adoption
- →Mining requires license
- →Capital controls in place
- →High effective tax rates
Living & Lifestyle
Cost of Living
Very Low (in USD)
Banking Access
Poor
Quality of Life
Low
Lifestyle Scores
Safety2/10
Healthcare2/10
Institutions2/10
Business Ease2/10
Int'l Schooling2/10
Privacy6/10