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Bolivia

Bolivia, officially the Republic of Bolivia, is located in central South America. It borders Brazil to the north and east. Bolivia borders Paraguay to the southeast, Argentina to the south, and Chile and Peru to the west. Bolivia is the fifth largest country in South America after Brazil, Argentina, Peru and Colombia.
Bolivia and Paraguay are the only landlocked countries in South America. Bolivia takes its name directly from the champion of South American independence, Simon Bolivar. During his campaign, Simon Bolivar ousted much of South America from Spanish rule.
Bolivia is ranked 150th out of 190 countries in the world, according to the World Labor Organization in 2020. Bolivia exported more than $ 8 billion worth of goods and services in 2017, with top export destinations including Brazil ($ 1.41 billion), Argentina (US $ 1.24B), South Korea (US $ 574 million), India (US $ 552 million) and the United States (US $ 542 million). Today, despite high government incentives, macroeconomic stability, abundant natural resources, and a strategic location in the heart of South America, Bolivia has become an attractive country for investors.

Interesting facts about Bolivia

• La Paz is the tallest capital city in the world at 11,910 feet.
• Soybeans are the most important crop in Bolivia.
• Bolivia has the largest source of salt in the world.
• Bolivia is the largest butterfly sanctuary in the world.
• Bolivian people are very interested in sports, especially football.
• Lake Titicaca is one of the highest lakes in the world and also the largest lake in South America.
• The highest infant mortality rate in South America.
• There are 37 official languages ​​in Bolivia.
• The city of La Paz in Bolivia is the first city in South America to have electricity.
• There is a prison in Bolivia where prisoners can live with their families by paying rent.
• Women in Bolivia, Indonesia, and Guatemala are so short that they can be called dwarfs.
• There is a hotel in Bolivia where buildings, beds and chairs are made of salt.
• Footprints of 5,000 dinosaurs on a rock in Bolivia. This category of legs is said to date back 68 million years.
• Bolivia is named after a military officer named Simon Bolivar who made Colombia, Venezuela, Ecuador, Peru, Panama and Bolivia independent.
• Tinku is a festival in Bolivia where people beat each other for two or three days.
• Bolivia has seen more than 190 coups and revolutions in its history.
• Bolivia, with a population of 9 million, is the poorest country in South America.

General Questions 

How long does it take to register a company in Bolivia?
About three and a half months

How much is corporate income tax in Bolivia?
25٪

How much is VAT in Bolivia?
15٪

What is the minimum capital required to register a company?
$ 1

How much does it cost to register a company in Bolivia?
$ 20,000

Can any address be introduced to register a company?
No. You must have a physical office.

Can a Bolivian citizen be born with a child?
With the birth of a child, Bolivian citizenship can be acquired.

Is it possible to obtain Bolivian citizenship by staying in Bolivia?
If you are legally resident in Bolivia for 3 consecutive years, you can apply for citizenship.

Can foreigners buy an apartment or property in Bolivia?
There are no restrictions on foreigners buying real estate in Bolivia. Foreigners can obtain Bolivian citizenship by purchasing real estate.

The benefits of company registration in Bolivia

• To register a company, at least 2 shareholders and a director of any nationality are sufficient.
• No minimum capital required to register a company.
• Shareholders or directors do not need to be present in Bolivia to register a company.
• Easy access by road or rail to the markets of South American countries such as Brazil, Paraguay, Chile and Peru
• Bolivia has no restrictions on foreign companies investing, financial transfers, and imports and exports.
• Member of the World Trade Organization and member of Mercosur.
• Agreements with different countries to reduce taxes on customs duties
• Having rich natural resources including tin, copper, silver and iron.
• The second largest gas producer in South America.
• Bolivia’s member of Andean Community of Nations (CAN) to remove trade barriers between them.
• Bolivia is a member of the Common Market of the South (MERCOSUR) group to eliminate or reduce tariffs between member countries.

The disadvantage of company registration in Bolivia

• Bolivar is difficult to transport goods abroad because it has no access to the sea.
• Many bureaucracies in the company registration process.
• Obtaining company licenses is time consuming and costly.
• Corruption and taking bribes to get things done is common.
• The official language of the country is Spanish. Therefore, all documents must be translated into Spanish. That is why it will take time to prepare company documents.
• Ranked 113 out of 125 in the International Property Rights Index indicates a lack of transparency in physical property rights for foreigners and a lack of protection for foreign assets.

Type of company registration 

• Limited Liability Company (Sociedad de responsabilidad limitada)
• Public Corporation (Sociedad Anonima)
• Limited Liability Partnership (Sociedad en comandita simple)
• Foreign Branch

The company registration process 

• Submit a company registration application
• Specify a unique name and get its confirmation
• Preparation and adjustment of the company’s articles of association, including the approved name, specifying the type of company, goals of the company, shareholders’ names and amount of shares, names of company managers, address and telephone number of the company’s office
• Complete company registration forms
• Preparation of company seal
• Opening a bank account and depositing money to the company account
• Forming a file in the tax office and obtaining a tax code
• File a case with the Social Security Administration