Doing business in Bolivia
- How quickly can I set up a business?
- What is the minimum investment needed?
- How can I raise finance?
- What are the legal requirements for setting up my business?
- What structure should I consider?
- What advice can you give me in regards to payroll and taxation requirements?
- Is there anything else that I should know?
How quickly can I set up a business?
It depends on the nature of the company: S.R.L. (Sociedad de Responsabilidad Limitada) or S.A. (Sociedad Anónima) most used in Bolivia. According to the Bolivian code, it takes 30 to 45 days.
What is the minimum investment needed?
S.R.L. (Sociedad de Responsabilidad Limitada) $ 1500 to $ 2000
S.A. (Sociedad Anónima) $ 3500 to $ 4000
How can I raise finance?
• State entities can generate financing.
• In private companies depending on the heading or sector.
• Bolivia needs foreign investors and this is governed by the investor law.
What are the legal requirements for setting up my business?
1. Trade Act Registration Request Form, as a sworn statement, duly filled out and signed by the legal representative of the business company or individual merchant or client.
2. Notarial testimony of granting of general or special power of attorney and / or revocation that contains the transcript of the corresponding act that determines said granting or revocation, as well as the accreditation of the authority of the grantor; in an original copy or legible legalized photocopy.
3. In order to carry out this procedure, it is an essential requirement that the commercial company or sole proprietorship has the updated Commercial Registration.
What structure should I consider?
It will depend a lot on the activity and the size of the company, be it small, medium or large.
What advice can you give me in regards to payroll and taxation requirements?
Advice on issues of payroll and human resources requirements, tax/regulatory and reporting are the entities of Impuestos Nacionales, Fundempresa, Ministerio de Trabajo and Autoridad de Supervisión del Sistema Financiero ASFI.
Is there anything else that I should know?
Regulations on transfer pricing and investment law.
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