Venezuela has won the Miss Universe competition more times than any other country, with eight titles.
Payroll and Benefits Guide - Venezuela
Fun Facts
The national dish of Venezuela is arepas, which are cornmeal patties filled with various ingredients.
Venezuela has the highest waterfall density in the world, with over 300 named waterfalls.
Venezuela is home to the world’s largest rodent, the capybara.
The national bird of Venezuela is the beautiful and colorful Venezuelan troupial.
The Venezuelan music genre of “joropo” features lively rhythms and is often accompanied by traditional dances.
Contributions
Employee Payroll Tax
| Contribution Type | Rate |
| Social Security | 4.00% |
| Employment Benefit Regime Contribution | 0.50% |
| Housing Regime Contribution | 1.00% |
| Employee Training Contribution | 0.50% |
Employer Payroll Tax
| Contribution Type | Rate |
| Social Security | 9.00%-11.00% |
| Employment Benefit Regime Contribution | 2.00% |
| Housing Regime Contribution | 2.00% |
| Employee Training Contribution | 2.00% |
| Employee Training Contribution | 0.75% – 10% |
Payroll
Payroll Cycle
The payroll cycles are biweekly or monthly.
13th Salary
13th-month payment is mandatory and the payment is generally made at the end of the year. This may differ according to stipulations within the collective agreement.
Work Hours and Week
The workweek is generally limited to no more than five eight-hour days and a maximum of 40 hours per week
Overtime
All work above the standard working week is to be paid as overtime and is regulated by the employment contract or collective agreement.
Leave
Paid Time Off
After completing one continuous year of service, employees are entitled to 15 working days of paid vacation.
Public Holidays
Public holidays falling on weekends are usually lost.
Sick Days
In Venezuela, employees have the right to take up to 1 year of sick leave if they are unable to work due to illness or injury.
Maternity Leave
Mothers are entitled to a total of 26 weeks of maternity leave. This leave is divided into two periods: six weeks before the expected due date and 20 weeks following the birth of the child.
During the maternity leave period, mothers are eligible to receive salary compensation.
The compensation is provided at a rate of 66.60% of their regular salary and is typically paid by the social security system.
Paternity Leave
In Venezuela, the father/partner is entitled to 1 week of paid paternity leave.
Parental Leave
Employees are entitled to 14 days of parental leave.
Termination
Termination Process
The termination process in Venezuela is subject to the specific provisions outlined in the employment agreement or collective agreement, taking into account the type of contract and the reason for termination.
Notice Period
There is no statutory notice period in Venezuela; this is usually agreed upon in the employment contract.
Severance Pay
Employers enter a severance agreement with their employees upon hiring. Both parties submit a sum of money to a severance fund every month and receive a calculated sum upon termination.
Probation Period
Probation Period
There is no statutory probation period in Venezuela; this is usually agreed upon in the employment contract.
Immigration
Venezuela’s immigration system offers various options for employers seeking to hire foreign nationals. The specific requirements, processing times, employment eligibility, and benefits for accompanying family members can differ based on the type of permit involved
Different work visas/permits are available.
Business Visa (TR-N Visa): All foreign nationals intending to engage in business activities in Venezuela must obtain a Business Visa, also known as the TR-N Visa.
90-Day Work Visa (TR-L Visa): The 90-Day TR-L Visa is designed for short-term workers employed by a foreign entity and permits work in Venezuela for a period of 90 days.
For Work Permits
The application for a work permit in Venezuela must be submitted to the Ministry of Labor.
VAT
The standard rate of VAT in Venezuela is 16.00%