What we do
- Regulatory analysis of payment, wallet and digital lending business models
- Authorizations and dealings with SUDEBAN, the BCV and SUNAVAL
- Agreements with banks, acquirers, processors and merchants
- Securities issuance, financing and transaction structuring
- Anti-money laundering programs for the financial sector
- Crypto-assets: analysis of the applicable framework before operating
When to contact us
- You want to offer digital payments, collections or loans in Venezuela.
- Your company needs an authorization or is responding to a regulator's request.
- You are seeking financing through securities or other instruments.
- You are considering operating with crypto-assets or with providers that use them.
Legal basis
- Banking Sector Institutions Law (2014)reserved activities and SUDEBAN supervision.
- Central Bank of Venezuela Law and its rules on payment systems and servicespayment service providers.
- Securities Market Lawpublic offerings and SUNAVAL.
- Constituent Decree on the Comprehensive Crypto-Asset System (2018) and LOCDOFTcrypto-assets and anti-money laundering.
Frequently asked questions
Does a fintech need authorization to operate in Venezuela?
It depends on the activity. Taking deposits from the public or engaging in financial intermediation is reserved to institutions authorized by SUDEBAN. Providing payment services may require BCV authorization under its rules. Other supporting technology activities may not require it. The first step is therefore a regulatory analysis of the specific business model.
Which regulator supervises each financial activity in Venezuela?
SUDEBAN supervises banks and other banking sector institutions; the BCV regulates payment systems, the exchange regime and payment service providers; SUNAVAL supervises the securities market; and SUDEASEG supervises insurance. A single business model may be subject to more than one.
What anti-money laundering obligations does a fintech have?
If it is a regulated entity, it must have a comprehensive money laundering risk management system, a compliance officer, know-your-customer policies, transaction monitoring and suspicious activity reporting to UNIF. The banks it works with will also require their own due diligence.