Venezuela: residency, citizenship, tax and living

For short stays of up to 90 days in a year, Venezuela offers tourist and short-stay business visas. The country offers a one-year work visa, which can be extended as long as employment is maintained, as well as visas for entrepreneurs, investors, and individuals with sufficient passive income, some of which can lead to long-term or permanent residency.

Yes, foreigners can get Venezuelan citizenship. The regular naturalisation pathway allows foreigners to become citizens after 10 years of uninterrupted residence in the country. For citizens of Portugal, Spain, Italy, and Latin American and Caribbean countries, the residence requirement is reduced to five years. It’s also possible to get Venezuelan citizenship through marriage to a Venezuelan citizen.

For resident individuals, Venezuela imposes a tax on their worldwide income. Foreign residents based in the country are taxed on domestic and foreign income attributable to that base, while non-residents are taxed only on income derived from the country. The country also taxes individuals on their wealth, large financial transactions, and inheritance situated in the country.

Yes, Venezuela allows dual citizenship. You will not be required to give up your original citizenship when becoming a citizen of Venezuela unless the other country doesn’t allow dual citizenship.