Question I am looking into a joint venture on importing car parts into Venezuela, but I'm not certain on how money is transferred to the U.S. for payment. I've heard of the black market in Venezuela that transfers Pesos to dollars, but I want a more legal and consistent way to make this transaction.
Answer The only legal way is through CADIVI. The company in Venezuela needs to be registered in the system, after at least 6 months of operations. Then this company can buy from a company outside of Venezuela, and it will request an authorization to the government to pay the bill in dollars. If approved, then you will be able to pay at an official rate. The process is hard and tricky, which is why many people prefer the black market.
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