I always hear Venezuelans talking about CADIVI but I never fully understood how it worked. This blog post is a great breakdown of how it works, why people need it, and what they need to do if they don’t get it.
If you have a friend from Venezuela, you may have wondered what is this “Cadivi” thing that he or she is always talking about. And why is it such a big deal?
“CADIVI (Commission for the Administration of Currency Exchange) is the Venezuelan government body which administers legal currency exchange in Venezuela.”
In 2003, Venezuela’s government decided to create an Institution which main goal is to control currency exchange… and screw Venezuela’s economy. Every Venezuelan who wants to travel abroad for any reason, to any country, has to go through the arduous process of begging government to allow them to buy foreign currency with their own earned money. For example, students who have been granted an F-1 Visa, and need to exchange Venezuelan currency to dollars or euros, have to prepare a folder with A LOT of documents. Some of these documents are copies of their ID, passport,VISA…
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