Bolivia is a country with an economy that has at its core substantial reserves of natural gas, crude oil, tin, silver and other goods, but also crops of rice, cotton, coffee or soybeans. Thus, many foreign entrepreneurs choose to set up companies in Bolivia. For more information or assistance in the procedures of starting a business in Bolivia, please seek counsel from our team of specialists in company formation.
Legal structures in Bolivia
In order to open a company in Bolivia, you should first decide on which type of company you want to establish. You may choose from the following legal entities: the limited liability company, the Bolivian public corporation, the limited liability partnership. A different approach is if you opt for creating a branch or a representative office, as these ones are dependent to their parent-company. The most commonly incorporated type is the limited liability company and the requirements for it are:
– at least one director (who has to be a Bolivian resident);
– minimum two shareholders;
– minimum share capital of 1$.
The process of incorporating a company in Bolivia should not take more than a few weeks and the company can be 100% foreign-owned.
Steps for company registration in Bolivia
1. You first have to choose a name for your company and then check its uniqueness at the Registry of Commerce.
2. Then the notarizing of the incorporation articles is necessary and also the publication of a notice, announcing the new company’s registration, in a local Bolivian newspaper.
3. For company registration in Bolivia you must also register at the National Tax Service (Servicio de Impuestos Nacionales), in order to obtain a tax identification number. You need to submit some documents for this procedure, but our company formation agents can make sure that this process is completed as soon as possible.
4. The next step of the company formation process in Bolivia is obtaining a municipal license for business and also a registration card. Some of the papers you need are the application form, the copy of the public certificate of incorporation, a document to prove the domicile of your company etc.
5. Last, you need to deposit minimum 25% of the capital at the Commercial Bank and obtain an evidence for it. Then you need to register your company’s certificate with the Registry of Commerce.
How we can help you
If you are considering forming a business or you need expert help with company registration in Bolivia, LegalGenius™ is ready to assist you with its skilled team of lawyers, consultants and tax experts. We are committed to making the process as stress-free and streamlined as possible for you, and we will take care of all your document preparation and administrative tasks regarding the registration forms, payment of government fees, local address registration, banking support, etc., whilst always keeping your exact objectives and unique vision in mind throughout the process.
Please use our Company Formation Wizard if you would like to set up your registered company in Bolivia or if you would like to know the costs involved prior to proceeding with our exceptional services. For other queries and special requests for complex or customised company formation services, please contact us at email@example.com