On March 9, 2016, the change of the official exchange rate from Bs. 6,30 x 1 US$ to Bs. 10 x 1 US$ was published in the Official Gazette.
Subsequently, the Venezuelan PTO published on its website the new official fees according to the new exchange rate, which are in force since March 9, 2016.
Therefore, for the requests filed from March 9, 2016, the official fees will be calculated taking into account the new exchange rate. For those filed before March 9, 2016, and whose bank transfers were made before that date, the official fees will be calculated taking into account the previous exchange rate of Bs. 6,30 x 1 US$.
As we informed you previously, on February 11, 2016, the Venezuelan government increased the tributary unit (tax unit in Venezuela) from Venezuelan Bs. 150 to 177 (a 18 percent increase), and that change also increased the official fees at the Venezuelan PTO. However, with the recently approved exchange rate, the official fees at the Venezuelan PTO have effectively decreased as follows:
Patent application (including payment of first annuity): US$1,770
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