Venezuelan economic and regulatory developments

The Venezuelan economic landscape is seeing developments in both regulatory oversight and private sector growth.

In the real estate sector, the Cámara Inmobiliaria de Venezuela (CIV) and the National Office Against Organized Crime and Terrorism Financing (Oncdoft) have begun evaluating prevention mechanisms to combat money laundering, terrorism financing, and the proliferation of weapons of mass destruction. Efforts include updating registries of real estate companies and integrating brokers into Customer Due Diligence (CDD) protocols. Additionally, regional branches like the Cámara Inmobiliaria del Estado Barinas are establishing new multidisciplinary teams to manage professional development and social responsibility.

Concurrently, entrepreneurship has become a significant driver of the economy, accounting for 76% of economic activity. The state is supporting this through the 'Emprender Juntos' platform to assist with formalization and tax registration. In Caracas, local entrepreneurs are securing contracts for productive premises to expand sectors such as textiles and gastronomy, supported by access to microcredits and digital payment systems.