I too am looking at moving to Marguarita Island off the coast of Caracas....do you know anything about any business/employment opps there etc?

Thanks,
Jeff

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hi, i live in vancouver bc, righ tnow and am think ing about mvoing to marg. isl as well, have you had any contact with any locals or anything there? if so, i have simialar quistions to yours that i wuol d like some info on. canyou get aback to me plz.? ;) tx,, cory. cobra_kai@telus.net

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Hello -
As you are probably aware, the president of Venezuela has proposed a substantial change to the constitution. It will be voted on by the citizens on Dec 2, 2007 (as of this writing).

Proposed articles of particular interest to foreigners are those which change the definition of private property and those that give the state control over economic activity. Also, just yesterday the president announced that he will pass 100 new laws as soon as his reform passes. I'd wait to see what those new 100 laws will be before jumping in.

Of course, there are strict regulations on foreign exchange, in place for several years now. What this means is that you cannot freely change the local currency to Euros or Dollars - you can only do so via a parallel market, which is running around 200% of the official rate (2150 vs. 6400 as of today)

Having been in Venezuela for the last 4 months, I recommend you take a wait and see attitude until Jan 2008. If the reform passes, it goes into effect Jan 1, 2008. A new currency also goes into effect in Jan 2008 that takes 3 zeros off the Bolivar.

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