{"id":8093,"date":"2022-07-20T14:41:22","date_gmt":"2022-07-20T18:41:22","guid":{"rendered":"https:\/\/www.traviesoevans.com\/travieso\/?p=8093"},"modified":"2025-10-24T08:45:34","modified_gmt":"2025-10-24T12:45:34","slug":"organic-law-of-special-economic-zones-july-20-2022","status":"publish","type":"post","link":"https:\/\/www.traviesoevans.com\/travieso\/en\/organic-law-of-special-economic-zones-july-20-2022\/","title":{"rendered":"ORGANIC LAW OF SPECIAL ECONOMIC ZONES – July 20 2022"},"content":{"rendered":"

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ORGANIC LAW OF SPECIAL ECONOMIC ZONES<\/strong><\/p>\n

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The Organic Law of Special Economic Zones was published in Official Gazette No. 6.710 Extraordinary of July 20, 2022 (OLSEZ). It repeals the provisions on special economic zones of the Law of Integral Regionalization for Socioproductive Development of the Homeland of November 2014.<\/p>\n

This Law regulates the creation, organization, operation, administration, and development of the Special Economic Zones (SEZ) and their economic, tax, or other incentives, applicable to national or foreign, public, private, mixed, and communal legal persons that participate in the SEZ declared of strategic character, of general interest, and for public purposes.<\/p>\n

The SEZ will be created by the President of the Republic through a Decree approved at Cabinet Council and later authorized by the National Assembly. The National Superintendence of Special Economic Zones (NSSEZ), assigned to the Vice-presidency of the Republic and based in Caracas, will be in charge of the control and administration of the SEZ. The NSEEZ will be directed and administered by a Board of Directors formed by the Superintendent and six principal members with their respective alternates, who may be freely appointed and removed by the President of the Republic.<\/p>\n

Each SEZ will have a Sole Authority, designated by the President of the Republic, in charge of executing the guidelines of the policies, plans, and projects prescribed in the Decree of creation of the SEZ. It will be answerable to the NSSEZ for the progress and fulfillment of its functions.<\/p>\n

The SEZ are limited to the development of the following activities (i) industrial activities, (ii) technological activities, (iii) financial services, (iv) tourist services, hotel industry, recreation, and entertainment, (v) primary agribusiness production of the agricultural, livestock, fishing, and aquaculture sectors for food sovereignty of the country and with exportation purposes, and (vi) any other sector or activity that is considered necessary for the development of the country.<\/p>\n

The legal persons that execute projects for participating in the SEZ under the relevant economic activity agreement executed by them will be benefited by the incentives prescribed in the OLSEZ, which may be summarized as follows:<\/p>\n

1. Tax and customs incentives according to the criterion determined by the National Executive in the Decree of creation of the SEZ and with the maximum limit established in a Resolution of the Ministry with jurisdiction over economy, finance, and foreign trade matters:<\/p>\n