| LLC | PLC | LLP | Branch Office | Rep Office | |
|---|---|---|---|---|---|
| Local Name | SRL | SA | SCS | Sucursal | Oficina de representación |
| Company Setup Time | 8 weeks | 8 weeks | 2 weeks | 2 weeks | 2 weeks |
| Bank Account Opening | 3 weeks | 4 weeks | 4 weeks | 3 weeks | 3 weeks |
| Government Grants Available | Yes | Yes | Yes | Yes | No |
| Government Contracts Bidding | Yes | Yes | Yes | Yes | No |
| Legal Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
The Bolivia Limited Liability Company (Sociedad de responsabilidad limitada)
- Limited liability companies in Bolivia need one director, who shall be a Bolivian resident, and a minimum of two shareholders to incorporate. The minimum up-front capital required is USD 1.
- Annual audited financial statements must be submitted to the commercial registry if annual sales exceed USD 170,000.
The Bolivia Public Corporation (Sociedad Anonima)
- International entrepreneurs who want to setup a small or medium sized enterprise (SME) in Bolivia typically utilize a corporation. Easily formed and with minimum capital requirements of USD 100 the corporation shall hire a minimum of three directors. At least one of the directors shall be a Bolivian resident. The corporation shall hire;
- Three local or foreign shareholders
- A secretary who shall be a resident of Bolivia
- A Bolivian resident agent
- We can facilitate this process for our clients
- A court shall appoint a translator in Bolivia who will supply the registration documentation in Spanish. The documents must be legalized at the Bolivian consulate to complete the incorporation process.
- Once the corporation has been setup an auditor shall be hired. A corporation with turnover above USD 160,000 will be required to submit annual audited financial statements to the Tax Bureau and Fundempresa.
The Bolivia Limited Liability Partnership (Sociedad en Comandita Simple)
- A limited liability partnership is required to hire a minimum of two shareholders and two directors who may be either local or foreign persons. The minimum up-front capital required to complete the registration process is 1 USD.
- Limited Liability Partnerships restrict shareholders’ liability to the sum of their shares against capital invested. Transfer of shares (quotas) is permitted by all shareholders and is tax exempt.
- The Bolivia limited liability partnership does not require annual financial statements nor a company secretary. Limited liability partners are liable for the sum of losses equal to their capital contributions.
The Bolivia Branch (Sucursal)
- A Bolivian branch of a foreign corporation may be 100% owned by the foreign entity. The parent company will have a defined operational scope for this corporation. The branch of the international business shall have a licensed office in Bolivia and the manager must be appointed power of attorney.
The Bolivia Representative Office (Oficina de Representacion)
- The representative office in Bolivia may be wholly owned by a foreign organization but is not permitted to conduct any business operations in Bolivia. The expenses relevant to the representative office must be reconciled with foreign currency remittances transferred into the country. The entity may engage in;
- Market survey or market research
- Marketing and promotion campaigns for the parent company