Beginner’s Guide on Bolivia Company Incorporation Services

Bolivia Company Incorporation ServicesBolivia has increasingly become a popular destination for foreign executives looking to capitalize on new and growing markets. The country has experienced one of the highest economic growth rates in recent years due to the promotion of sectors like mining, agriculture, and more. It is also a member of the World Trade Organization and an associate member of MERCOSUR.

Company incorporation in a foreign land comes with its own set of challenges. That’s where our Bolivia company incorporation services come in. Our expert team will assist you and make the transition as smooth as possible.

 

Incorporating a Company in Bolivia

Before joining the market here, you may need to spend some time in Bolivia to assess the demand for your products and services. Promote your new business by meeting with local business owners and possible clients, attending trade shows, and participating in networking activities. The procedures for setting up a business in Bolivia generally entail the following phases, though they may change depending on the kind of business being registered:

  1. Select the appropriate business model and legal framework.
  2. Write down and sign the Power of Attorney
  3. File a company registration with the Bolivian Public Registry of Commerce.
  4. Get a Tax ID Number, or “NIT”
  5. File a company registration with the National Pension Fund Administration and Bolivia.
  6. Set up a bank account for the business.
  7. Visit the local Municipality to obtain the licences.

 

Type of Company Entities

You must choose the legal entity that best fits your company’s needs and objectives before conducting a company formation in Bolivia. Despite limited liability companies being the most popular legal form for investors in Bolivia, there are other entity kinds to consider when incorporating because each one has certain advantages.

Limited Liability Company

The incorporation process can be started with just US$1 and the presence of one director and two shareholders.

Public Corporation

Suitable for small and medium-sized businesses, public corporations need three shareholders as well as three directors, one of whom must be a Bolivian citizen. A resident company secretary, resident agent, controller, and auditor are also needed when forming a public corporation. Companies that generate more than US$160,000 annually must file annual financial reports to Fundempresa and the Tax Bureau.

Limited Liability Partnership (LLP)

LLPs need at least US$1 in capital investment, two shareholders, and two directors of any nationality. In LLPs, shareholder liability is restricted to their contributions, and all share transactions are tax-free, but only when they take place within Bolivia.

Branch

Establishing a branch office in Bolivia gives your business 100% foreign ownership. However, the company needs to have a manager with power of attorney.

 

Looking to Start a Company in Bolivia?

You can start a Bolivia company to effectively launch your firm in an untapped market and take advantage of commercial prospects in the Andean nation. And to ensure a smooth process, we provide Bolivia Company Incorporation Services. Feel free to contact us if you require any help or support.

Bolivia Company Incorporation Services