Venezuela 2026
A trusted supplier for Venezuela's resurgence
Venezuela is entering a new economic and regulatory chapter. Since January 2026 the country has moved through a stabilization, recovery and transition framework, with legal reforms designed to attract investment and progressive OFAC authorizations that reopen key sectors to U.S. companies. PH Cellular, a Miami-based company with more than 35 years in the region, is the compliance bridge between the Venezuelan market and U.S. technology suppliers.
Information updated as of: 2026-10
2026 economic context
A phased economic plan
In May 2026 the Executive presented a comprehensive, sequenced economic policy plan: mobilize revenue from the extractive industries, restore fiscal sustainability and build the financial infrastructure to boost exports and attract foreign direct investment. The framework agreed with Washington is summarized in three stages: stabilization, recovery and transition.
Reforms to attract investment
In January 2026 the National Assembly passed a deep reform of the Hydrocarbons Law giving foreign companies greater autonomy to operate, export and collect, even as minority partners of PDVSA. A new mining law (gold and lithium) and an investor amnesty were also announced, building on the Constitutional Law on Productive Foreign Investment.
Opening with clear rules
OFAC general licenses issued since January 2026 (series 46 to 62) progressively authorize activity in oil, gas, electricity, mining, ports, aviation, financial services and telecommunications. Each license sets conditions (excluded counterparties, payments, reporting) and may be amended or revoked, so every transaction is structured case by case.
A political transition under way
The caretaker government told the United Nations (September 2026) it will pursue legal reform, political guarantees and incentives for foreign capital, and committed to calling elections, still without a date. Talks between government and opposition continue, so the environment remains dynamic and calls for partners with local experience and compliance discipline.
Opportunities by sector
Telecommunications
In January 2025 CONATEL auctioned spectrum again after eleven years: Digitel won 50 MHz at 3.5 GHz for 5G and Movistar frequencies at 2.5 GHz for LTE, for US$123.9 million in total. Digitel plans 4,200 5G-capable sites in 2026 and Telefónica announced investments in the hundreds of millions to expand 4G and prepare 5G. Renewing the 4G/5G handset base is the segment's big opportunity.
View industry: TelecommunicationsInternet and service providers
CONATEL set a 2026 goal of full coverage with high-speed networks after exceeding 65% of parishes connected by fiber; more than half of the licensed operators already hold the attribute to deploy fiber and a new data-management attribute covers data centers. Hundreds of regional ISPs and WISPs need certified CPEs, routers and modems, with remote management to operate at scale.
View industry: Internet and service providersBanking and fintech
The economy runs on de facto transactional dollarization and strong growth in digital payments (mobile payment, interoperable QR, wallets). SUDEBAN regulates financial-technology institutions in the banking sector (Resolution 001-21) and banks are renewing their point-of-sale networks. Certified Android terminals, PIN pads and device-financing software are in immediate demand.
View industry: Banking and fintechIoT for oil, gas and industry
The oil revival (Chevron at Petropiar, Shell at Carito and Pirital, and SLB's agreement with PDVSA to digitize and monitor production in real time) and OFAC licenses 46E, 48D and 49B (September 2026) for oil, gas, petrochemicals and electricity open the door to telemetry, industrial gateways and sensors connected over 4G/5G, LoRaWAN and satellite.
View industry: IoT: oil, gas and industryCurrent regulatory framework
Hydrocarbons Law reform (January 2026)
Greater operating and commercial autonomy for foreign companies, even as minority partners of PDVSA. The basis for the new wave of agreements with Chevron, Shell, Repsol and oilfield service providers.
Source: Reuters / El NacionalTelecommunications framework: CONATEL
Administrative licenses by attribute (internet, fiber, data management), 4G/5G spectrum auctions on the Caracas Stock Exchange and type approval of terminal equipment. Every device we import meets CONATEL's certification requirements.
Source: CONATELFinancial framework: SUDEBAN and digital payments
Resolution 001-21 (financial-technology institutions in the banking sector), mobile-payment and QR interoperability, and security requirements for point-of-sale terminals. Our POS terminals and financing software integrate with local acquirers and processors.
Source: VenAmChamForeign investment and mining
The Constitutional Law on Productive Foreign Investment remains the general basis, complemented by the new mining law (gold and lithium) and the investor amnesty announced in 2026. In August 2026 OFAC removed the requirement that contracts with the State be governed by the law of a U.S. state, while keeping dispute resolution outside Venezuela.
Source: Baker McKenzieOFAC licenses
OFAC licenses: how we work with U.S. companies
Since January 2026 the U.S. Treasury's Office of Foreign Assets Control (OFAC) has issued a series of general licenses that authorize, under conditions, transactions with Venezuela that were previously prohibited. PH Cellular, as a Miami-based U.S. company, acts as supplier and compliance channel so that manufacturers, distributors and Venezuelan customers can operate within that framework.
GL 61 / 61A · Telecommunications (August 21 and 27, 2026)
Authorizes the supply of U.S.-origin goods, technology, software and services to install, maintain, repair, upgrade and operate telecommunications in Venezuela, including with the Government, CONATEL and CANTV. Covers broadband equipment and spare parts, logistics, insurance, software and billing. Requires commercially reasonable payment terms (no debt swaps, gold or state digital assets), excludes counterparties from China, Cuba, Iran, North Korea and Russia, and requires reporting to OFAC 10 days after the first transaction and every 90 days thereafter.
GL 62 · Contingent contracts for telecom investment
Allows negotiating and signing contingent contracts (bids in public tenders, binding MOUs, agreements in principle) for new investment in the sector, including new companies and joint ventures. Performance remains subject to a specific OFAC license.
GL 56 / 57 · Commercial negotiations and financial services
Authorize commercial negotiations with the Government of Venezuela and certain financial services, including contingent contracts. They are the basis for structuring financing, guarantees and payments for hardware and service projects.
GL 46E / 48D / 49B · Oil, gas, petrochemicals and electricity (September 28, 2026)
Expand crude purchases and marketing, the supply of goods, technology and services for exploration and production, and the negotiation of contingent contracts for new investment in oil, gas, petrochemicals and electricity. They underpin field digitization and telemetry (IoT) projects.
What still applies
The licenses do not unblock blocked property, do not authorize new joint ventures without a specific license, and do not replace Commerce Department (BIS) export controls or FCC requirements. They may be amended or revoked at any time. That is why every PH Cellular transaction goes through counterparty screening, export classification and specialized legal counsel.
This information is a general summary prepared from public sources (OFAC, law firms and specialized press) and does not constitute legal advice. General licenses change frequently: before each transaction we verify the current text at ofac.treasury.gov together with our counsel.
What PH Cellular brings
We are the same supplier as always: founded in 1988, headquartered in Miami, with 35 years distributing mobile technology in Venezuela and Latin America. Today we add a line of services designed for this chapter.
- A U.S. company: we contract, invoice and report from the U.S. under the general licenses in force.
- Industry-certified hardware: phones, modems and routers, payment terminals and IoT devices.
- Services that go with it: 4G→5G migration, private label, device financing, software, remote device management and AI consulting.
- Logistics and compliance: export classification, counterparty screening, insurance, freight and OFAC reporting.
Do you have a project in Venezuela?
Tell us what you need and we will propose the right hardware, services and compliance structure.