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Re: [Debconf-team] DC14 bids: money handling

Luis Alejandro Martínez Faneyth dijo [Wed, Mar 13, 2013 at 11:31:29AM -0430]:
> (...)
> For international money transfers, the operation is a bit tricky. It
> is permitted to have dollar accounts on venezuelan banks, but as
> this was implemented recently, the conditions and requirements to
> open this kind of accounts are not as clear as we would expect. A
> legal entity should open the account, among some other tricky
> requirements. After the account is set up, it can recieve money
> transfers from outside, and then it can be cashed out in Bolívares
> on a local bank. This is the only official way to introduce foreign
> funds into the country. However, this is not a path we recommend to
> follow.

Ok, we will need this information, as clearly as possible. Not only
the conditions to legally hold dollar accounts, but to perform
international transfers in *and out* of them.

Why do you not recommend this path? It is usually the easiest one to
follow, even in countries with (soft) currency control.

> There is another legal way. If the operation occurs in a country
> where there is no currency exchange control, it would be ok. For
> example, the local team can partner up with a local company (travel
> agency, FOSS startup, ...) that has an account outside the country
> to receive dollars and give us Bolívares in Venezuela (at official
> rate).

Right, but that would entail, if I understand correctly, requesting
different Debian people to travel carrying Venezuelan cash, right? If
we are talking about a budget of, say, US$100,000, we would have to
request at least 10 people to get US$10,000 converted to Bolívares
each, and travel with that money on them. I consider that an
unacceptable deal. In any case, that solves the question for people
wanting to enter with *their personal* money.

> And there is yet another legal way. Transfers can be made directly
> to providers that have an account outside the country. For example,
> The hotel we are proposing has accounts outside, and possible, the
> tourist agency which would provide us with transport+food to the Day
> Trip.
> There's also to take into account the proportion of the budget that
> can be covered through local sponsoring.

Right. This makes some sense — Or to get locally money that should be
spent locally, and manage outside Venezuela as much expenses as we
can. Sadly, outside of the travel sponsorship (and maybe T-shirt
printing, although I guess the cost in Venezuela will be quite

> >What about getting money out
> >of the country -- what are the barriers to doing bank transfers to
> >transfer un-spent money (or profit from merchandise etc.) to another
> >country?
> Getting money out of the country is very complicated, but not
> impossible. It has to be done directly through CADIVI (official
> currency exchange operator), or through representatives that make
> the CADIVI procedure for us. One of the limitations is that CADIVI
> only allows a maximum amount of 900USD to be transferred per month.

I guess that restriction applies to Venezuelan individuals, right? An
association with trade partnerships outside the country is surely
likely to transfer out more than that.

> If it is to be done through a representative (most likely) they will
> receive Bolívares and convert them to USD at the official rate
> (6,30).

Another question here to consider: I know it's very hard to play the
prophet, but given your country's past (which I don't know), how
stable is the outlook on the Bolívar? I know it recently suffered a
strong devaluation (which, for Debian, might be benefic, as many
prices will take much longer than a year to put up with the
devaluation — Venezuela is now cheaper for the international

However, once we start getting money from our sponsors and needing it
in Venezuela, we will transfer it. And if the currency does not
stabilize, we are bound to lose!


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