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March 18, 2016

Venezuela: official IP protection fees amendments

Considering recent changes in the tax legislation of the Bolivarian Republic of Venezuela the official IP protection fees schedule has been amended.

According to the Official Gazette of Venezuela No. 40486 published on February 11, 2016, the amount of tax unit in Venezuela was increased from Bs. 150 to Bs. 177 (18% increase). Due to this update the official IP protection fees were also increased by 18%.

Under the IP legislation of Venezuela foreign applicants should pay the state IP protection fees in US dollars at a fixed exchange rate. According to the Official Gazette No. 40865 of March 9, 2016, new fixed currency exchange rate was established in amount of Bs. 10.00 per 1 US Dollar (instead of Bs. 6.35 per 1 USD).

Taking into account the mentioned amendments some of the state fees have changed, namely:

  • current fee for filing a patent, utility model, industrial design or trademark application is Bs. 2655.00 (265.50 USD);
  • fee for granting patents for invention and utility model as well as certificates for trademark registration equals Bs. 8850.00 (885.00 USD);
  • fee for trademark renewal as well as fee for recordal of assignment is Bs. 17700.00 (1770.00 USD);
  • fee for change applicant’s name or address is Bs. 3540.00 (354.00 USD).

IP-Coster quotation system has been updated in accordance to the above mentioned changes. 

Author: Lynda Miller