Venezuela

South America

South America

A low-cost South American country with low university tuition, but serious economic and political risk, a weaker passport and a long 10-year naturalisation wait.

17
Overall score
Low · Penalty applied · 83% data coverage
Language
Spanish
Currency
VES
Citizenship
10 years
Personal tax
Up to 34%
Cost of living
$800 / mo (single; volatility is high)

Rules change often. Confirm any immigration, tax or legal decision with a qualified professional.

Score breakdown
47
Access
17%
39Residence12%
65Citizenship and passport5%
52
Earning power
25%
–Salary and work12%
52Buying power13%
34
Business and wealth
20%
48Taxes7%
24Business8%
30Investment5%
51
Daily life
25%
40Quality of life18%
80Education7%
9
Rights and institutions
13%
19Freedom6%
1Rule of law7%

Severe safety risk (27) cut the overall score from 40 to 30.

Weak rights and institutions (9) cut the overall score from 30 to 17.

Pros

  • Low university tuition

Cons

  • Serious economic and political risk
  • A weaker passport
  • A long 10-year naturalisation wait

Best for

Students

Score profile

Access
Residence
39
Citizenship
63
Passport
70
Earning power
Salary & work
–
Buying power
52
Cost of living
58
Economy
55
Business and wealth
Taxes
48
Personal tax
38
Corporate tax
3
Business
24
Investment
30
Wealth building
–
Daily life
Safety
27
Healthcare
45
Environment
81
Infrastructure
50
Education
80
HDI
71
Rights and institutions
Freedom
19
Rule of law
1
How the scores are calculated

Access

Residence
Openness to residents
Limited
39
Migrant stock4.4% of population (2024)
Regulatory quality-1.90 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Main pathways
EmploymentStudyFamily reunificationBusiness or investment where eligible
StudentRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
WorkRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Self-employedRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
PermanentRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Citizenship
Citizenship accessibility
Moderate
63
Years required10 years
Dual allowedYes
LanguageCheck the current naturalisation rules for the selected route
ResidenceTypical headline route: 10 years; qualifying residence and absence rules apply
NotesRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
Passport
Passport power
Good
70
139 / 198
Mobility
#36
Global rank
Yes
Biometric
  • Visa-free92
  • On arrival43
  • eTA4
  • Visa required59

Placeholder estimates for 2024 to 2025. Check entry rules with each destination before travelling.

Earning power

Salary & work
Labour-market strength
Data not available
–
Unemployment5.3% (2025)
Participation51.9% of 15+ (2025)

Source: World Bank World Development Indicators

Tech salary (estimate)Varies substantially by city, seniority, and employer
FreelanceMarket access depends on language, sector, and work authorisation
Job marketUse current local vacancy and salary data for role-specific decisions.
Buying power
Purchasing power score
Moderate
52
GNI / person$20,840 PPP (2011)
Consumption / person$10,922 PPP (2011)
Price level69 (US = 100) (2011)
Income inequality44.7 Gini (2006)
Inflation254.9% / yr (2016)

Source: World Bank World Development Indicators

Cost of living
Affordability
Moderate
58
Price level69 (US = 100) (2011)

Source: World Bank World Development Indicators

RentVaries substantially by city and neighbourhood
Monthly$800 / mo (single; volatility is high)
CitiesCaracas, Maracaibo, Valencia
Economy
Economic strength
Moderate
55
Output & income
GDP$99.7B (2025)
GDP / person$3,495 (2025)
GNI / person$20,840 PPP (2011)
GDP growth5.3% / yr (2024)

Source: World Bank World Development Indicators

Stability & labour
Inflation254.9% / yr (2016)
Unemployment5.3% (2025)

Source: World Bank World Development Indicators

Sector composition
Agriculture0.0% of GDP (2011)
Industry0.0% of GDP (2011)
Services0.0% of GDP (2011)

Source: World Bank World Development Indicators

Main industries
Oil & gasPetrochemicalsMiningAgriculture
Top exports
Crude oilGoldPetrochemicals
TypeCrisis economy, historically oil-driven
Key sectorsOil (the world's largest reserves), Mining
SummaryAn economy sitting on the world's largest oil reserves but devastated by years of mismanagement and hyperinflation.
CurrencyVenezuelan bolivar (history of hyperinflation; US dollars widely used)

Business and wealth

Taxes
Tax friendliness
Moderate
48
PersonalUp to 34%
CorporateGenerally up to 34%
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Exit taxCheck current domestic rules before changing tax residence
Foreign companiesManagement, permanent-establishment, CFC, and reporting rules may apply
Personal tax
Personal tax
Limited
38
PersonalUp to 34%
FreelanceRegistration, immigration permission, tax, and social contributions may apply
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Exit taxCheck current domestic rules before changing tax residence
Corporate tax
Corporate tax
Low
3
CorporateGenerally up to 34%
Capital gainsTreatment varies by asset, holding structure, residence, and treaty position
DividendsRates and withholding depend on residence and treaty eligibility
Foreign companiesManagement, permanent-establishment, CFC, and reporting rules may apply
Business
Business friendliness
Low
24
Regulation & bureaucracy
Regulatory quality-1.90 (−2.5 to 2.5) (2024)
Government effectiveness-1.47 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Operating rules
Foreign companyGenerally possible, subject to sector, registration, tax, and substance rules
Local companyAvailable company forms and capital requirements vary
FreelanceRegistration, immigration permission, tax, and social contributions may apply
Investment
Investing environment
Limited
30
Market cap4% of GDP (2002)
Private credit27% of GDP (2013)

Source: World Bank World Development Indicators

Capital gainsTreatment varies by asset, residence, holding period, and treaty position
DividendsData not available yet
ETFs & fundsData not available yet
Wealth taxCheck current national and subnational rules
BrokersLocal and international availability varies by residency and compliance checks
Foreign accessData not available yet
Tax-advantagedData not available yet
Wealth building
Wealth accumulation
Data not available
–
Salary & work
Data not available
–
Business
Low
24
Investment
Limited
30
Tax friendliness
Moderate
48
Cost of living
Moderate
58

Daily life

Safety
Safety & stability
Low
27
Personal safety
Homicide rate12.6 per 100,000 (2022)

Source: World Bank World Development Indicators

Institutions & stability
Control of corruption-1.59 (−2.5 to 2.5) (2024)
Political stability-1.74 (−2.5 to 2.5) (2024)

Source: World Bank World Development Indicators

Check current government travel and security advice before relocating.

Healthcare
Healthcare score
Moderate
45
Outcomes
Life expectancy72.7 years (2024)
Under-5 mortality24.2 per 1,000 births (2024)

Source: World Bank World Development Indicators

Capacity & resourcing
Physicians1.66 per 1,000 (2017)
Hospital beds0.99 per 1,000 (2020)
Health spending$112 PPP / person (2023)

Source: World Bank World Development Indicators

System & costs
SystemPublic/private mix varies by eligibility and residence status
InsuranceCheck residence-permit and local coverage requirements
Average costDepends on eligibility, income, insurer, and chosen coverage
Environment
Environment score
Excellent
81
Environmental pressure
PM2.5 exposure19.2 μg/m³ annually (2023)
Water stress7.5% (2022)

Source: World Bank World Development Indicators

Infrastructure
Infrastructure score
Moderate
50
Digital infrastructure
Internet use76.7% (2024)
Internet resilience50 / 100 (2026)
Fixed speed75 / 100 download index (2026)
Mobile speed51 / 100 download index (2026)

Sources: World Bank World Development Indicators · Internet Society Pulse Internet Resilience Index

Utilities
Electricity access100.0% (2023)
Grid losses21.4% of output (2023)

Source: World Bank World Development Indicators

Transport
Transport quality2.40 / 5 (2022)
Rail density0.4 km / 1,000 km² (2006)
Air connectivity817 departures / million people (2023)

Source: World Bank World Development Indicators

Education
Education score
Excellent
80
Attainment
Expected schooling13.0 years (2023)
Mean schooling9.7 years (2023)

Source: UNDP Human Development Report 2025

Participation & investment
Tertiary enrolment78% gross (2009)
Education spending6.9% of GDP (2009)

Source: World Bank World Development Indicators

TuitionPublic/low-cost options; availability varies
Public universityVaries by institution, programme, and student nationality
LanguagesSpanish
Student workRules depend on status and circumstances; verify the current requirements with the competent authority before acting.
HDI
Human development score
Good
71
HDI0.709 (2023)

Source: UNDP Human Development Report 2025

Long & healthy life
Life expectancy72.5 years (2023)

Source: UNDP Human Development Report 2025

Knowledge
Expected schooling13.0 years (2023)
Mean schooling9.7 years (2023)

Source: UNDP Human Development Report 2025

Standard of living
GNI / person$7,157 PPP (2023)

Source: UNDP Human Development Report 2025

Rights and institutions

Freedom
Freedom score
Low
19
Freedom in the World15 / 100 (Not free)
Freedom on the Net26 / 100 (Not free)
Sources
Rule of law
Rule of law score
Low
1
Rule of Law percentile1 / 100
Sources
Resources
Official references
UN Statistics: M49 country and area codesunstats.un.orgPwC: Worldwide Tax Summariestaxsummaries.pwc.comUNDP Human Development Report 2025hdr.undp.orgInternet Society Pulse Internet Resilience Indexpulse.internetsociety.orgWorld Bank World Development Indicatorsdata.worldbank.org
Quick links
Venezuela visa & immigrationgoogle.comVenezuela tax residency rulesgoogle.comVenezuela citizenship requirementsgoogle.comCost of living in Venezuelagoogle.com

Data is illustrative. Not legal or tax advice.