Venezuela - Franchising Venezuela - Franchising
Franchising is allowed under foreign investment laws. Franchise payments, royalties, patents, or technical assistance agreements must be registered with MIPPCOEXIN. Certain payments for the use of franchise rights may be subject to withholding taxes.
In Venezuela, there are approximately 500 franchisors owning and operating 12,500 franchisee points throughout Venezuela, according to the Venezuelan Franchise Chamber.
Historically, U.S. franchises have enjoyed some success in Venezuela, including: Quizno’s, TGI Fridays, Papa John’s Pizza, McDonald’s, Burger King, Domino’s Pizza, KFC, Cinnabon, and Tony Roma’s. Many other U.S. franchises in other sectors are present in Venezuela.