TAX UNIT INCREASE
On February 24th 2017, the increase of the value of the Tax Unit in Venezuela was made official by the publication of the new rate in the Official Gazette No. 6287. The latter implies an increase of around 70% of the rates that foreign industrial rights owners must pay in regards to the different services provided by the Venezuelan administration.
This percentage increase could be reduced if there were to be a significant devaluation of the official foreign exchange or rate.
For the moment, we relate the new schedule of fess regarding the different procedures related to Industrial Property:
- Final Fees for Trademarks and Patents: USD $ 1,500.00
- Registration certificate for Trademarks and Patents: USD $ 450.00
- Trademark renewals: USD $ 3,000.00
- First Annuity – Patents: USD $ 3,000.00