Caracas: what to see and whether to move there

Is it worth moving to Caracas in 2026

Caracas is the capital of Venezuela, a city of over two million people in a mountain valley below the Ávila range, about 900 metres above sea level, with a mild climate all year. After a long crisis the country's leadership is changing: in January 2026 a US military operation detained President Nicolás Maduro, and the country is run by an interim government. The political situation remains unstable, and daily life has long been conducted in dollars.

Russian citizens need no visa for up to 90 days. People move here mainly for work, family or business betting on the recovery of the economy and the oil sector. For living by choice Caracas is still hard: street crime, power and water cuts and unpredictable rules require local connections and reliable support.

Cost of living in Caracas

Prices come from two independent price databases for 2026 and are shown in dollars: most prices in Caracas are quoted in dollars, and the official Central Bank of Venezuela rate on 6 October 2026 was about 872 bolívars per dollar. A square metre in the centre costs about $1,470. Housing in guarded buildings in the east of the city costs more than the averages.

Where to live in Caracas: neighbourhoods

• Chacao - Altamira, Los Palos Grandes and La Castellana: the safest and best-kept areas with restaurants, offices and most foreigners.
• Las Mercedes - business and dining district in Baruta municipality with many new offices.
• El Hatillo - south-eastern suburb with a colonial centre and private houses, suits families.
• Centre and western districts - the historic centre and government buildings, cheaper housing but higher street crime.

The east of the city is noticeably safer than the west, so foreigners almost always choose it and get around by car or trusted taxi.

Entry and residence

Under a 2008 agreement Russian citizens enter Venezuela visa-free and may stay up to 90 days. For long-term living, a visa and residence are obtained through work, business, investment or family at the migration service. Documents are needed in Spanish with legalisation, and Murblz specialists prepare the file together with locally licensed partners. Ask an expert which requirements apply to your route.

Sanctions also matter: bank transfers into and out of the country are complicated, and many international banks and payment systems do not work with Venezuela, so the way money will arrive is planned before the move.

Taxes in Venezuela

Residents pay income tax on worldwide income at rates from 6% to 34%. The scale is set in tax units whose value has long lagged behind inflation, so the top 34% rate starts at roughly $300 of annual income. Non-residents' salaries and services in the country are taxed at 34%. VAT is 16%, an additional rate applies to luxury goods, and a surcharge may apply to payments in foreign currency or cryptocurrency. Corporate tax is 15% to 34%, and 50% for the oil sector.

Renting and buying property

Foreigners can buy property in Venezuela; deals usually take place in dollars and are registered in the local registry. Before buying, the title and history of the property must be checked: the country has seen cases of seized homes and ownership disputes. Rent is paid in dollars, often several months upfront, and when choosing an apartment check the generator, water tank and building security.

Climate and daily life

The climate is mild: around 25-28 degrees during the day and cooler at night, with the rainy season roughly from May to November. The language is Spanish, and few speak English. Private clinics have good doctors, but medicines and equipment are sometimes in short supply, so insurance covering treatment abroad is needed. Power, water and internet cuts happen regularly. There are fewer international flights than before the crisis, and some routes connect through neighbouring countries.

Pitfalls

• Unstable political situation after the change of power in January 2026.
• High street crime, especially in the centre and west.
• Sanctions and difficult bank transfers.
• Power, water and internet cuts.
• The top 34% income tax rate starts at small amounts.
• Few direct international flights.

Murblz specialists help with the visa and residence, property checks and the setup for money transfers. A consultant in the chat will calculate the cost of support.