Is it legal to send money from abroad to buy a property in Venezuela?

Yes. Convenio Cambiario No. 1 of 2018 restored free convertibility and ended exchange restrictions, and the Decreto Constituyente in Gaceta Oficial No. 41.452 repealed the Ley del Régimen Cambiario y sus Ilícitos. Money-laundering controls remain in force at banks and registries.

Can I pay the seller into their account abroad?

Yes. The Código Civil leaves the place of payment to the contract (article 1.527), and the Convenio Cambiario says that if the parties intended to pay in foreign currency, that is how it will be done (article 8). It is advisable for the document to state the currency, the destination account and the date of payment.

If I pay from my cuenta custodia at a Venezuelan bank, is there IGTF?

Yes: payments in foreign currency within Venezuelan banking without a foreign correspondent carry 3% (Ley del IGTF, article 4, numeral 5, and article 24). The numeral does not mention who receives, so we read that it applies even if a private individual collects. Also confirm with your bank that it allows transfers between cuentas custodia.

How much does the bank charge to exchange my dollars into bolívares at the mesa de cambio?

The BCV fee table in force since September 15, 2026 says "sin comisión" (no fee) for the sale of foreign currency at the mesas de cambio; the purchase has a cap of 0.25%. To operate, you must be a client of the bank and have completed its due diligence (Resolución No. 19-05-01, article 6).

Can I carry the money in cash?

Yes, but bringing in banknotes from the amount the BCV sets must be declared (Convenio Cambiario, article 5). The BCV lists as in force a 2005 resolution that sets US$ 10,000; since it was issued under the previous regime, ask customs how to declare today.

What does the Registro ask for to prove the origin of the money and the payment?

The sworn statement of the lawful origin and destination of the funds, mandatory under article 27 of Resolución No. 008 of 2019. Banca y Negocios reports that proof of payment (check or bank transfer) is also requested, something worth confirming at each Registro.

Sending money to buy property in Venezuela

Each legal route for paying from abroad for a property in Venezuela changes the IGTF (tax on large financial transactions) and the proof of payment. Rules in force as of October 28, 2026. The power of attorney and the RIF are covered in how to buy a property from abroad; the seller's side, in selling and taking the money out of the country.

The legal routes at a glance

The Convenio Cambiario No. 1 (exchange agreement; Gaceta Oficial No. 6.405 Extraordinario, 2018) restored free convertibility: "cesan las restricciones sobre las operaciones cambiarias" (restrictions on exchange transactions cease) (article 2). The Decreto Constituyente (constituent decree) in Gaceta Oficial No. 41.452 (2018) repealed the Ley del Régimen Cambiario y sus Ilícitos (Law on the Exchange Regime and its Offenses). Money-laundering controls remain in force.

The Ley del IGTF (Gaceta Oficial No. 6.687 Extraordinario, 2022) makes the one who pays, the buyer, the taxpayer. By route:

How you pay	IGTF according to the text?
Zelle or a bank abroad	It is not "dentro del sistema bancario nacional" (within the national banking system); if a sujeto pasivo especial (special taxpayer) collects, count on the 3%, although it is debatable
International transfer to the seller's foreign-currency account at a Venezuelan bank	It arrives through a foreign correspondent: it does not fit the letter of numeral 5 (our reading)
Foreign currency transferred within Venezuelan banking, without a foreign correspondent (for example, from a cuenta custodia, a foreign-currency custody account)	3% (numeral 5); the numeral does not mention who receives
Bolívares from a Venezuelan account	An individual paying on their own account is not in article 4; numerals 1 to 4 are at 0%
Cash in dollars between two people who are not sujetos pasivos especiales	Does not fit numeral 5 or 6 (our reading)
Foreign currency to a sujeto pasivo especial without the mediation of financial institutions (cash, for example)	3% (numeral 6)

For payments from a bank abroad, article 3, numeral 8, mentions "los débitos en cuentas para pagos transfronterizos" (debits to accounts for cross-border payments), but no numeral of article 4 names that payer separately. We could not confirm the criterion of the SENIAT (the national tax authority). More in the IGTF when paying in foreign currency.

Route 1: from an account abroad to another account abroad

The Código Civil (Civil Code) leaves the place of payment to the contract: the buyer pays "en el día y en lugar determinado por el contrato" (on the day and at the place determined by the contract) (article 1.527). The Convenio (article 8) draws a distinction: if the foreign currency is only the money of account, payment can be made in it or in bolívares at the exchange rate of the date of payment; if the parties intended payment to be made in foreign currency, "así se efectuará" (that is how it will be made).

It is advisable for the opción de compra-venta (purchase option agreement) and the sale document to state:

The price, its currency and that it is paid in that currency.

The destination account: bank, country and holder (the seller or whoever the seller authorizes in the document).

The date of payment and the seller's statement that it was received.

This is a contractual protection: we did not find a rule that requires it.

Route 2: to a foreign-currency account at a Venezuelan bank

Foreign-currency accounts can receive lawful funds "de fuentes del exterior o del propio sistema financiero nacional, e inclusive por depósito de efectivo" (from sources abroad or from the national financial system itself, and even by cash deposit), and can be moved by transfers (Convenio, article 32). The first paragraph mentions individuals "residenciadas en el territorio nacional" (resident in the national territory) and the third, individuals "y jurídicas domiciliadas o no" (and legal entities, domiciled or not). If you live abroad, ask the bank whether you can open the account.

The bank must ensure that "el origen y el destino de los fondos" (the origin and destination of the funds) and the purpose of each transaction are recorded (article 34): use a description that names the purchase.

Direct international transfer to the seller's account. The BCV (the central bank) fee table (Gaceta Oficial No. 7.073 Extraordinario, in force since September 15, 2026 according to the BCV) sets up to 0.05% of the amount for payment orders or transfers in foreign currency received by clients (section I.2, literal c). Have the seller confirm that their account receives them.

From your own cuenta custodia to the seller's. This is the 3% of numeral 5, which we read as applicable even if a private individual collects. IESA (2023) reported that, on instructions from Sudeban (the banking regulator), banks had been restricting transfers between cuentas custodia since 2022. Confirm with your bank that it allows the transaction and how much it debits.

Route 3: exchange at a mesa de cambio (bank exchange desk) and pay in bolívares

The BCV's Resolución No. 19-05-01 (Gaceta Oficial No. 41.624, 2019) allows banks that are exchange operators to agree purchases and sales of foreign currency at their mesas de cambio (article 1). You must be a client of the bank and have completed its due diligence (article 6).

You sell your foreign currency and pay the seller in bolívares:

Fee. The BCV table says "sin comisión" (no fee) for the sale of foreign currency by individuals at the mesas de cambio; the purchase has a cap of 0.25% (section I.2, literal o).

IGTF. "Las operaciones cambiarias realizadas por un operador cambiario debidamente autorizado" (exchange transactions carried out by a duly authorized exchange operator) are exempt (article 8, numeral 4 of the Ley del IGTF); that this covers your sale of foreign currency is our reading.

The document. If the price is in dollars as the money of account, payment in bolívares is made at the exchange rate of the date of payment (Convenio, article 8, literal a). Record the exchange rate applied and the amount in bolívares.

Route 4: cash

Bringing in or taking out banknotes from the amount the BCV sets must be declared (Convenio, article 5). The BCV still lists Resolución No. 05-11-01 (Gaceta Oficial No. 38.307, November 4, 2005) as in force; it sets that amount at US$ 10,000 or its equivalent (article 1) and requires the declaration to be filed with the SENIAT as well (article 2). It was issued under the 2003 Convenio, which the 2018 one repealed (article 88), and we did not find another that replaces it: ask customs how to declare today.

It leaves no bank record, and the Registro Público (public registry) watches for procedures that by their "cuantía, naturaleza, frecuencia" (amount, nature, frequency) seem suspicious (Resolución No. 008, article 41).

Depositing it costs money. A foreign-currency account can receive cash (Convenio, article 32); the BCV table allows a charge of up to 0.50% for counting more than 25 banknotes, and a minimum of 3% and a maximum of 3.80% for withdrawing them (literals n and q).

Do not split the cash among travelers or trips to stay under the threshold, and do not exchange it outside an operador cambiario autorizado (authorized exchange operator).

How to prove the payment and what should alarm you

Resolución No. 008 of the Ministerio de Relaciones Interiores, Justicia y Paz (Ministry of Interior, Justice and Peace; Gaceta Oficial No. 41.581, 2019) sets what the Registro asks for:

Sworn statement of the lawful origin and destination of the funds, mandatory in every act with consideration, even a gratuitous one, signed before the official and added to the file (article 27).

Due diligence: the "tercero interviniente" (intervening third party) is identified and, when necessary, the source of the funds (article 26); an attorney-in-fact is asked for the documents that accredit them (article 30).

Proof of payment. Banca y Negocios lists the proof of payment (check or bank transfer) among the requirements. This is reported practice, not a rule: ask your Registro what support it accepts for a transfer from abroad.

If a relative sends the money, a third party can pay "en nombre y en descargo del deudor" (in the name and in discharge of the debtor) (Código Civil, article 1.283), but the Registro will want to identify them. If it is a gift, consult a lawyer about the donations tax.

Warning signs:

You are asked to pay into an account that is neither the seller's nor named in the document. Payment must be made to the creditor or to whoever the creditor authorizes; a payment made to another person is valid only if the creditor ratifies it or benefited from it (Código Civil, article 1.286). Require the document to name the holder and the authorization.

You are asked for the full price before the day at the Registro. Until the sale is registered, it has no effect against third parties who have acquired rights over the property (Código Civil, article 1.924). If you advance money, have the opción de compra-venta record it.

You are asked to declare a lower price than the one paid. Declare the real price: it is the one your receipts back up.

If the payment is large, comes from a company or passes through accounts in several countries, consult a lawyer.

Paying in foreign currency and the 2007 law. Article 23 of the Ley Especial de Protección al Deudor Hipotecario de Vivienda (housing mortgage debtor protection law; Gaceta Oficial No. 38.756, 2007) says home purchase operations "sólo se otorgarán en bolívares" (shall only be made in bolívares), while Convenio Cambiario No. 1 (2018) allows agreeing in foreign currency. We found no rule or ruling that resolves that conflict: see paying cash or with credit and consult a lawyer.

Sending money from abroad to buy a property in Venezuela