Steps and Requirements to form a cooperative in Venezuela

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One of the viable alternatives to form a working group with a reliable public registry, with the option of several business benefits, is to form a cooperative, which aims to keep the financing options that can help develop it.

If you want to know everything about the Requirements to form a cooperative, Stay with us and we will provide you with the information.

Requirements to form a cooperative in Venezuela

By law, the only requirement that you must meet to build a cooperative is that all members have the same purpose and social status within the cooperative, with a minimum of 5 associates.

Steps to follow to form a cooperative

  • Step 1: Every cooperative must have a name.

To choose it, the National Superintendency of Cooperatives must be consulted, if there is no other cooperative registered under the same name in the registry.

It must be picked up at the INCE offices where the Superintendency of Cooperatives is attached.

  • Step 2: After 10 business days, certify that the denomination consulted does not belong to another cooperative.

Give the go-ahead for said cooperative to be registered with the name of your choice, you will be able to acquire the pertinent papers andand can be managed at the offices of SUNACOOP or in La Rinconada, said Reservation of this denomination will be valid for 90 days until its formal registration.

  • Step 3: The group that forms the cooperative must meet and express in writing the conditions by which they will be established.

Among other things, the data of the associates, operating rules and its structural basis.

  • Step 4: Once each aspect of the written manifesto has been discussed, they will approach the registry to receive the accreditations of the cooperative as legal persons. This service is completely free.
  • Step 5: After the registration is formalized, there will be a total of 15 business days to provide the Superintendency with: a simple copy of the cooperative’s registration indicating: names of the main directors of the cooperative, full address and telephone numbers.
    Note: Cooperatives that provide a public service must obtain the pertinent permits issued by the corresponding regulatory entity.
  • Step 6: In the subsequent 10 business days they must withdraw the registration certificate of the cooperatives at the Rinconada reception office or at the SUNACOOP regional offices.

What is a cooperative?

They are organizations controlled by people who are the same ones who use it.

They differ from other organizations because the partners that make it up are the same employees who work in it, everyone who belongs to one must play a role within it.

Cooperatives Law

The law that governs cooperatives is The National Superintendence of Cooperatives Law (SUNACOOP) aims to establish the general rules for the operation and organization of the organizations that comprise it and the cooperatives that have been created.

Its characteristics are the following:

  • Simplifies the process of legalization of cooperatives.
  • It is very flexible.
  • It re-defines the role that integration organizations should have, and I present them as entities that represent and articulate the cooperative movement.
  • It defines very clearly the modalities of promotion and protection of the State.
  • It establishes norms for the development of associated work, as well as the own mechanisms of social protection.
  • Promotes a scheme of participatory democracy.

Record

Its registry is kept by the National Superintendence of Cooperatives (SUNACOOP) which is located within the main INCE headquarters of each state.

functions

The National Superintendence of Cooperatives has the accreditations of:

  • Supervise cooperatives under the laws that govern them.
  • Develop skills that report on aspects of cooperatives to facilitate their understanding.
  • Sanction cooperatives that incur in irregularities, according to what is established by their laws.
  • Reaffirm together with other organizations the necessary control for the operations of the cooperatives.
  • Establish to the extent that they cover their powers for the proper functioning of cooperatives.
  • According to this law, issue the pertinent certifications.
  • Strengthen the registration of organizations related to cooperatives so that they adequately legislate compliance with cooperative laws and also notify irregularities that arise.
  • Of more functions that this law grants.

Adding to these legal guidelines could be added those of:

  • Manage the registry of cooperatives created in the country.
  • Pertinently be present at the administrative meetings and Assemblies of the cooperatives.
  • Inculcate the development, study and understanding of cooperativism.
  • Develop technical assistance and relevant advice to cooperatives or groups in such training.
  • Establish itself as a body for the correct consultation and interpretation of the laws that govern it.
  • Together with the Integration Bodies, work to develop the integration of new members in the best possible way.

Advantages and Disadvantages of Cooperatives

Advantage:
  • Cooperation in the economic and social order.
  • Equal conditions for members.
  • Equity.
  • Option to easy government financing.
  • They are excluded from expenses such as taxes and other things that would apply to a company.
  • State support as protection.
  • Recurring preference of services at the State level.
  • Equity with other companies of different denominations.
  • By reducing tax and other freight costs, they can compete with affordable prices in the field they operate.
Disadvantages of cooperatives:
  • The past experiences of the initial cooperatives have been charged with obscuring their professionalism.
  • Limited obtaining of loans from non-governmental banks or private companies.
  • It is mandatory to form a team of at least 5 members to create a cooperative.
  • To get faster profits you have to add more people.
  • There are no employees or workers, everyone who belongs to a cooperative must play a role.
  • They develop in undemanding fields and less valued knowledge, therefore they end up offering very basic services.
  • At the national level there is no support for cooperatives to join the SAC.
  • Only cooperatives with a labor performance of more than 5 years are taken seriously for non-governmental loans or credits.

Cooperative communication symbols

The symbol of the cooperatives is made up of: a yellow background under two green pine trees, also enclosed in a green circle. The meaning of the pines is constancy, the need for mutual effort as well as constancy and fertility.

The circumference acquires as meaning the universality of cooperativism and union. the yellow background acquires a meaning of the sun which is a symbol of energy for humanity.

Cooperative Classes

The cooperatives have a classification that will be according to what activity they have been created for:

  • Cooperatives for the Production and Obtaining of Goods and Services.
  • Cooperatives for Consumption and Marketing of Goods and Services.
  • Mixed Cooperatives.
  • Cooperatives for Production and Obtaining Goods and Services:
    These are the type that provide a public service in addition to producing some good that they can sell and share the profits among themselves, counting on the possibility of buying in large quantities among themselves.
    This class itself has certain divisions:
  • Fishery Production Cooperative: group of people who are fond of the fishing activity add effort to develop each other in the growth of the collective scope.
  • Services Production Cooperative: offer a service to the community such as: transportation, garbage collection, maintenance etc
  • Industrial Production Cooperative: They transform raw materials into products that their customers need.
  • Agricultural Production Cooperative: They till the land, sell the products, take advantage of discounts and advantages of buying in quantity among several farmers associated with them.
  • Cooperative for the reproduction of animal species, Cooperative for Mining Production, Cooperative for Livestock Production, etc.
  • Cooperatives for Consumption and Marketing of Goods and Services: Within this type of cooperatives are the following:
  • consumer cooperatives: It is about using the discounts and other advantages of buying the products in bulk and distributing them through sales to the members of the cooperative with the acquisition value, raising a percentage of the price to cover expenses of said operations, transport, etc. The purpose of this strategy is to raise the salary payment of associates. The products can be offered at the common market price, to distribute the profits among the associates, according to the sales relationship that each partner has made.
  • Service Cooperatives: The associates develop a work plan which consists of offering several services which will produce a profit and will be distributed among the members of the cooperative, the profits will be seen through which their services are requested.
  • Savings and loan cooperatives: This is understood in such a way that the members found a savings account where everyone will have their periodic savings, in which they will be able to request mutual credits when they wish, raising interests and eliminating the large costs that they would have to submit to if they did so with commercial banks.

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The development of these cooperatives benefits in certain areas the protocols that they would have to go through if they were constituted as a formal company.

which is beneficial when, due to time and budget issues, what you want is to start working as quickly as possible, the Requirements to form a cooperative They are basic within the mercantile theme, which is why many opt for this alternative.

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