The Venezuelan president is elected by vote, with direct and universal suffrage, and functions as both head of state and head of government. The term of office is six years, and a president may be re-elected to a single consecutive term. The president appoints the vice-president and decides the size and composition of the cabinet and makes appointments to it with the involvement of the legislature. The president can ask the legislature to reconsider portions of laws he finds objectionable, but a simple parliamentary majority can override these objections.

The unicameral Venezuelan parliament is the National Assembly or Asamblea Nacional. Its 167 deputies, of which three are reserved for indigenous peoples, serve five-year terms and may be re-elected for a maximum of two additional terms. They are elected by popular vote through a combination of party lists and single member constituencies. The highest judicial body is the Supreme Tribunal of Justice or Tribunal Supremo de Justicia, whose magistrates are elected by parliament for a single 12-year term. The National Electoral Council (Consejo Nacional Electoral, or CNE) is in charge of electoral processes; it is formed by five main directors elected by the National Assembly.

Venezuela was the first country in the world to abolish the death penalty, in 1863.

New flag and new coat of arms
Recent political change has resulted in the flag of Venezuela being changed by the addition of an eighth star, symbolizing Guayana's contributions to the independence of the nation. The coat of arms has been changed, with the horse facing to the left, as opposed to the right. It is believed to symbolize Venezuela's current left-wing stance, and is the target of criticism by the right-wing.

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( The National Assembly Building in downtown Caracas )