VENEZUELA PEO & EOR
Hire in Venezuela without a local entity today
As a Global PEO & EOR service provider, we pride ourselves on our global reach, in-country knowledge, and ability to swiftly and efficiently mobilize workers around the world. Our robust PEO/EOR covers everything from global HR, payroll, compliance, in-country support, immigration, visas, and more.
Get started and hire in Venezuela today with Gibson Watts Global.
DID YOU KNOW
- The nation has fantastic biodiversity and is the 7th highest in the world for its number of wild species. One example of a unique animal from Venezuela is the Capybara, the world’s largest rodent.
- Venezuela has won seven Miss Universe titles, making it the nation with the second most crowns after the USA.
- ‘Salto Angel’ or ‘Angel Falls’, is the world’s highest waterfall, and can be found in Venezuela. The stunning landmark stands at 979 metres high with a drop of 807 metres.
Forget software,
this is expansion
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Venezuela PEO Services
A growing opportunity for foreign investors
Working in Venezuela
Financial Year Dates
Venezuela’s financial year is based on the calendar year, and generally runs from 1st January to 31st December. Businesses have the opportunity to select their own financial period.
Minimum Wage
As of July 2024, the minimum hourly wage is 130 Bolívares for employees and 97.50 Bolívares for teenagers and apprentices.
Standard working hours
A standard work week consists of 5 days a week, with a maximum of 8 working hours per day.
Overtime
Any time worked outside of employees’ standard hours must be compensated at a higher rate of 50% on weekdays and 100% on weekends and national holidays.
Holiday Allowance
Employees in Venezuela are entitled to 15 days of paid holiday following a year of continuous service, which increases by one additional day for each year of service thereafter. Up to a maximum of 30 days’ annual leave per year.
Sick Leave
Employees are entitled to up to 52 weeks of paid sick leave. To be eligible for paid sick leave, employees must obtain a medical certificate from the Venezuelan Social Security Institute, within 48 hours of becoming ill. For the first 3 days, the employer pays the full salary. Thereafter, the employer pays 33% of the employee’s salary and the Venezuelan Social Security Institute pays the remaining 66%.
Maternity & Paternity Leave
New mothers are entitled to 6 weeks’ maternity leave before the birth of the child, and 20 weeks after. During maternity leave, employees receive 33% of their salary paid by their employer and the remaining 66% paid from the Venezuelan Social Security Institute. Fathers are also entitled to 14 days of continuous leave following the birth of the child. Parents receive a two-year prohibition of dismissal following the birth of a child.
Public Holiday
- New Year’s Day
- Carnival
- Maundy Thursday
- Good Friday
- Declaration of Independence Day
- Labour Day
- Anniversary of Battle of Carabobo
- Independence Day
- Simón Bolívar’s Birth
- Assumption of Mary
- Indigenous Resistance Day
- Rafael Urdaneta Birthday
- All Saints’ Day
- Christmas Eve
- Christmas Day
- New Year’s Eve
Social Contributions
Employers and employees in Venezuela must both contribute to the country’s social security system. The nation’s income tax rate is progressive and varies from 0 to 34% depending on an employee’s earnings.
Income Tax
Employees pay income tax on their total net income from any source. Tax is based on a progressive rate ranging from 6% up to 34%. Local income received by a non-resident will be subject to a flat tax rate of 34%.
Health Care
Venezuela’s public healthcare system is in crisis, with many people lacking access to basic essential services. This is a result of a number of issues including lack of investment from the government, hospital shortages, poor quality medical facilities, health worker immigration and high costs.
Visas
For expatriates, a working visa application must be submitted before starting work in Venezuela.
Before relocating, it is highly recommended to be advised by labor experts. Currently, and due to inflation, salaries are low (compared to other nations in South America), however they have been rising steadily over recent years.
This allows companies to establish themselves at low costs and to take advantage of opportunities for the medium and long term, as well as to use telecommuting to attract highly trained personnel.
A Venezuelan EOR provider can also provide guidance on this process. An EOR can provide a payroll solution in Venezuela so that workers can easily set up in Venezuela and businesses can easily place workers in-country.
13th salary?
All employees in Venezuela are legally entitled to receive a 13th month salary, also known as Aguinaldo, at the end of the year. The payment is equivalent to one full month’s salary. Some employers also provide an additional 14th month salary.
Cultural Information
Venezuela’s culture is defined by its welcoming and friendly nature. The dominant religious group is Catholic, and Spanish is the official language. The nation has a moderate but growing level of English-speaking proficiency, particularly in areas which receive more tourism.
Venezuela’s diverse cuisine is one to be admired, including delights such as the pabellón criollo, el asado negro, stuffed arepas and empañadas, and delicious hallacas.