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[null,"Prepared By:","Contributors:"]
[null,"C.R. & F. Rojas - Abogados","César González"]
[null,null,"Pablo Rojas"]
[]
[]
["Doing Business Latin America"]
[]
["Report Generated: 11/19/2025"]
[]
["View your report results on next tab"]

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["Question","Bolivia"]
["Country Overview"]
["Country Overview"," Bolivia is a democratic country in the heart of South America, rich in natural resources and projected to be a leading growth nation in the region. Over the last decade, Bolivia’s GDP growth rate has exceeded global and regional averages, showing political and economic stability with one of the lowest inflation levels globally. The country is the fifth largest by area in South America but one of the least populated, emphasizing rural economic activities like agriculture, mining, and hydrocarbon exploitation. Bolivia has strong trade relationships with Argentina, Brazil, Chile, Paraguay, and Peru. \n Population Bolivia, officially known as the Plurinational State of Bolivia, has a population of approximately 11.3 million people. The population is primarily concentrated in the central axis region, including the cities of La Paz, Cochabamba, and Santa Cruz, which are the main economic hubs of the country. \n Location Bolivia is a landlocked country located in the heart of South America. It is bordered by Brazil to the north and east, Paraguay and Argentina to the south, Chile to the southwest, and Peru to the west. With an area of 1,098,581 square kilometers (424,164 square miles), Bolivia is the fifth largest country in South America. \n Climate and Ecosystems Bolivia features a diverse range of climates and ecosystems due to its varied topography and altitude differences. The country has three main geographical regions: \n \n The Western or Andean Region : This includes the departments of La Paz, Oruro, and Potosí, characterized by mountainous and altiplano areas with altitudes ranging from 3,000 to 4,000 meters above sea level. \n The Sub-Andean Zone : Covering the departments of Cochabamba, Chuquisaca, and Tarija, this region lies between the eastern cordillera and the tropical plains with an average height of 2,500 meters. \n The Tropical Plains : Encompassing the departments of Pando, Beni, and Santa Cruz, this region covers about 60% of Bolivia's territory and is characterized by its lowland areas and humid, tropical climate. \n \n Infrastructure Bolivia has been investing in infrastructure to improve connectivity and support economic growth. Key projects include the construction and improvement of roads, airports, and public transportation systems. The government aims to enhance infrastructure to facilitate trade and mobility across the country. \n Ports and Waterways Although Bolivia is landlocked, it maintains access to international maritime trade through ports in neighboring countries, primarily through agreements with Peru and Chile for the use of ports on the Pacific Ocean. The main rivers in Bolivia, such as the Mamoré and Beni, are crucial for inland water transport. \n Airports Bolivia has several international airports, with the main hubs being Viru Viru International Airport in Santa Cruz, El Alto International Airport in La Paz, and Jorge Wilstermann International Airport in Cochabamba. These airports facilitate international and domestic travel, playing a vital role in connecting Bolivia with the rest of the world. \n Water and Sanitation Bolivia has made significant strides in improving water and sanitation services, particularly in urban areas. Efforts are ongoing to extend these services to rural regions to achieve full coverage and meet the Sustainable Development Goals (\" SDGs \") related to clean water and sanitation. \n Electricity Bolivia's electricity generation capacity is around 3,000 MW, primarily from natural gas and hydroelectric sources. The country is working to diversify its energy mix by incorporating renewable energy sources such as solar and wind power to ensure sustainable energy development. \n Tourism Tourism is a growing sector in Bolivia, known for its rich cultural heritage, diverse landscapes, and natural attractions like the Uyuni Salt Flats, Lake Titicaca, and the historic cities of La Paz and Sucre. In recent years, Bolivia has seen an increase in international tourists, contributing to the economy and promoting cultural exchange. "]
["Establishing a Business: Cross-Cutting Matters"]
["Companies"," Foreign investors may enter Bolivia using various legal structures or strategies. The most common legal structures are corporations, limited liability companies, and foreign company branches. Other strategies include mergers, acquisitions, or isolated acts of business. \n The primary commercial company types are the corporation ( Sociedad Anónima - S.A. ) and the limited liability company ( Sociedad de Responsabilidad Limitada - S.R.L. ). Both protect shareholders or partners up to their contribution amount. Key differences include: \n \n Corporations (S.A.) Require at least three shareholders, with 50% of the share capital paid upon incorporation, and shares can be ordinary or preferred. Share transfers are freely transferable by endorsement unless limited by the bylaws. Amendments to the bylaws require a 2/3 shareholder approval, and the board must have at least three directors and one comptroller, with directors serving a maximum of three years unless re-elected. General meetings must be held annually within three months of the fiscal year's end, with a quorum of 50% for ordinary meetings and 2/3 for extraordinary meetings. \n Limited Liability Companies (S.R.L.) Require at least two partners and up to 25, with full payment of capital quotas upon incorporation. All quotas must be of the same type and value. Transfers require 2/3 approval, a public deed, and a registry. Bylaw amendments require a 2/3 quota holder approval. The company can have one or more directors, with terms ranging from three months to ten years. General meetings also must be held annually within three months of the fiscal year's end, with the same quorum requirements as corporations. \n Opening a Branch Is often recommended for activities with limited scope and time. Branches do not require specific capital or have separate legal identities, with a legal representative managing operations in Bolivia. In contrast, subsidiaries or commercial companies have a separate legal identity, with a shareholders' meeting and managing body, and the liability of partners or shareholders is limited to their capital contributions. \n Joint Ventures In Bolivia involves collaboration to combine resources and share risks/profits. Types include equity joint ventures (new company), non-equity joint ventures (agreement), and mixed companies (regulated companies for public interest). These are suitable for large projects requiring substantial resources. Joint ventures are defined as shared risk contracts and must be registered but do not establish a legal personality. \n Representation and Agency Agency contracts, regulated by the Commercial Code , involve a merchant promoting or exploiting businesses for another entrepreneur within a specified area. These contracts must be written and registered with the Commercial Registry (\" SEPREC \"). Franchises must register the company name with SENAPI and contract terms with the franchisor. \n Companies Incorporated Abroad Foreign companies can conduct occasional business activities without a legal presence. For regular or stable activities, registration with authorities is required. Exceeding occasional activities necessitates opening a branch, establishing a permanent office, or incorporating a commercial entity in Bolivia, subject to local tax, labor, and accounting regulations. \n "]
["Taxes"," Corporate Income Tax Bolivia's Corporate Income Tax (\" CIT \"), or \" IUE ,\" is 25% of annual net profit. Net profit is income minus deductible expenses, following Bolivian accounting standards. Income generated within Bolivia is taxed, regardless of contract location or party nationality. \n Value Added Tax (\"VAT\") Bolivia's VAT is a 13% indirect tax on goods and services at every production, distribution, or delivery stage. The effective rate is 14.94%, included in the final price. VAT declarations and payments are monthly, with due dates based on the company’s tax ID number. \n Transaction Tax The transaction tax ( impuesto a las transacciones or “ IT ”) is a 3% tax on monthly gross income from any economic or commercial activity, including non-profits. Exceptions include sales of investments and local sales of minerals, oil, and gas destined for export. Corporations pay either CIT or transaction tax, whichever is higher. \n Individual Income Tax Individual Income Tax is levied through the Complementary Regime Tax to Aggregate Tax (\" RC-VAT \"), taxing income from work, such as wages, salaries, and bonuses. This falls into two categories:  \n \n RC-VAT (Direct Taxpayers) Independent individuals pay 13% of total income quarterly, reduced by tax credits from personal expenses. \n RC-VAT (Withholding Agents) Employers withhold and pay 13% of employees' gross monthly salaries after deductions. \n \n Withholding Taxes Withholding tax rates vary based on residency and payment type: \n \n Dividends to Bolivian residents are not taxable. \n Payments to non-residents: dividends, profits, interest, royalties, and service fees are subject to 12.5% WHT. Certain activities have a reduced 2.5% WHT, and non-domiciled individuals performing activities in Bolivia are subject to 16% WHT. \n \n Financial Transaction Tax (\"FTT\") A 0.30% Financial Transaction Tax (\" FTT \") applies to all domestic bank transactions, including deposits and fund transfers, from 2018 to 2023. \n Tax on Foreign Investment Foreign direct investments are not subject to a specific tax but are treated the same as national investments for tax purposes. \n Other Taxes \n \n Specific Consumption Tax (\"ICE\") Taxes on imports or sales of specific goods like cigarettes, beverages, and motor vehicles. \n Property Tax Annual municipal tax on real estate and motor vehicles. \n Great Fortunes Tax Taxes on individuals' wealth excluding real estate, with rates from 1.4% to 2.4%. \n \n Tax Treaties Bolivia has double tax treaties with several countries and economic communities, including the Andean Community, Argentina, France, Germany, Spain, Sweden, and the UK. Beneficial WHT rates for dividends are provided under specific conditions. "]
["Labor","Bolivia's labor laws are based on the \nGeneral Labor Law (\"LGT\") of 1939. Labor agreements must include the parties' names, place of work, working days, nature of the work, contract duration, salary details, employee's personal information, and working schedule. Contracts for minors require parental or guardian authorization. Agreements must be reviewed by the Ministry of Labour, and employees must be registered with social security entities.\nForeign Workers\nForeign workers can make up no more than 15% of an employer's workforce, and their compensation cannot exceed 15% of the total payroll. Employment agreements for foreign workers need the Ministry of Labor's approval. Both Bolivian and foreign employees must contribute to the Integrated Pensions System.\nWork Stability\nThe Bolivian Constitution protects workers from unjustified dismissals. Workers are entitled to compensation for wrongful dismissal, which can include social benefits or reinstatement. Compensation and benefits must be paid within 15 days of dismissal.\nVacations\nEmployees in Bolivia earn annual paid leave after completing one year of service. The number of vacation days increases based on the length of service. Employees who have worked between one and five years are entitled to 15 days of vacation. Those with five to ten years of service receive 20 days, and employees with more than ten years of service are entitled to 30 days of vacation.\nSalaries and Annual Bonus\nEmployees receive 12 monthly salaries and a Christmas bonus. A double Christmas bonus is provided if the economy grows above 4.5%. The minimum salary is reviewed annually by the Ministry of Labor.\nMaternity & Paternity Leave\nFemale employees are entitled to 90 days of paid leave for childbirth (45 days before and 45 days after), an hour daily for breastfeeding for a year, and job protection for one year post-birth. Spouses/partners get three days of paid leave and one year of job protection.\nEmployment Termination\nJustified dismissal can occur for reasons such as workplace misconduct or violation of employment agreements. Unjustified dismissal entitles employees to severance pay or reinstatement. Voluntary resignation after three months of continuous work grants severance pay.\nFixed-Term Employment\nEmployment contracts should be open-ended but can be fixed-term for specific jobs, requiring Ministry of Labor approval. Fixed-term contracts can be renewed once a year; further renewals make the contract indefinite.\nLabor Dispute Resolution\nThe Ministry of Labour manages administrative labor procedures, including dispute resolution and inspections. Labour Courts handle judicial proceedings, conciliation approvals, and enforcement of labor laws.\nTrade Unions and Collective Agreements\nThe Constitution recognizes the right to unionize and strike, with legal strikes requiring conciliation and arbitration steps. Strikes must be peaceful. Collective agreements are binding on signatory parties and new employees.\nSocial Security\nEmployees in Bolivia earn annual paid leave after completing one year of service. The number of vacation days increases based on the length of service. Employees who have worked between one and five years are entitled to 15 days of vacation. Those with five to ten years of service receive 20 days, and employees with more than ten years of service are entitled to 30 days of vacation.\n"]
["Foreign Exchange and International Investment Regime","Bolivia maintains a regime of foreign exchange freedom, allowing the Boliviano (\"\nBs\") to be freely convertible at authorized banks and exchange houses. The Central Bank of Bolivia (\"\nBCB\") manages an official exchange rate system through a managed crawling peg, ensuring stability since 2011. Currency exchange transactions must occur at official rates to prevent market distortion. While foreign currency can move freely, dividends paid abroad are subject to withholding taxes, typically at a rate of 12.5%, depending on the specific circumstances and treaties in place.\n"]
["Establishing a Business: Specific Matters"]
["Customs","To import goods, businesses must register with National Customs as either a \"Regular\" or \"Non-Regular\" importer. Goods must arrive via an authorized carrier with an International Cargo Manifest and receive a Reception Receipt upon arrival. For customs clearance, importers can either use a Customs Dispatch Agency or handle the process themselves. Key documents required include the original commercial invoice with detailed FOB value, transport document, packing list, Andean Value Declaration (for goods over USD 5,000), original receipt from the customs warehouse or Free Zone, certificate of origin (for tariff preferences), insurance policy copy, port expenses sheet (if applicable), international transport invoice, and any special certificates or authorizations.\nCustoms processes the Single Import Declaration (\"\nDUI\") within three business days, assigning a control channel through the SIDUNEA system (red, yellow, or green). If no issues are found in the yellow or red channels, merchandise removal is authorized. The Customs Technician may adjust documents and prepare an Inspection Report if necessary. After payment for logistics and storage, importers present the \nDUI and ID copies to the Customs Warehouse or Free Zone to receive the \"Merchandise Delivery Certificate,\" allowing goods circulation.\nBolivia's tariffs range from 5% to 40%, following World Customs Organization rules and the Harmonized System (\"\nNANDINA\"). Import restrictions apply to unregistered pharmaceuticals, decomposed food, diseased animals, harmful plants, and certain used vehicles and parts. Perishable goods like ham, sausages, and cheese require specific import permits, with Bolivian technicians often certifying manufacturing processes abroad.\nFor exporting goods, companies must register with the National Export Verification Service (\"\nSENAVEX\") to obtain a Unique Exporter Registry (\"\nRUEX\"). The process includes registering and enabling the exporter by submitting necessary documents, obtaining a Certificate of Origin (if applicable), verifying prior authorizations and certifications, securing transportation and insurance documents, and completing customs clearance. Finally, customs verify the exit of goods, issuing exit certificates to both customs and the exporter, ensuring compliance with all export procedures.\n"]
["Migration"," In Bolivia, the type of visa granted depends on the purpose of the visit as follows: \n \n Tourist Visa For leisure travel, short visits, or to see family or friends. It is valid for up to 90 days per calendar year and requires a passport with at least six months of validity, two passport-sized photos, a visa application form, proof of hotel reservation or an invitation letter from a Bolivian host, a travel itinerary, proof of financial means, a fee (varies by nationality), and a yellow fever vaccination certificate (if applicable). \n Business Visa For business meetings, conferences, or trade fairs. Valid for up to 30 days per trip, allows multiple entries within a year, and requires a letter from the employer or sponsoring organization and business registration or invitation from a Bolivian company. \n Student Visa For students or researchers intending to study at an accredited institution in Bolivia. Valid for up to one year and renewable, it requires an acceptance letter from the institution, proof of financial means, a police clearance certificate, and a health certificate. \n Specific Purpose Visa For work, volunteer activities, or long-term projects. Valid for up to 30 days and extendable for the duration of the project. It requires an employment contract or volunteer agreement, registration of the Bolivian company, a police clearance certificate, and a health certificate. \n Temporary Resident Visa For those planning to live temporarily in Bolivia. Valid for 1-2 years, it requires proof of financial means or stable income, a police clearance certificate, a health certificate, and additional documents depending on the category (family reunification, retirement, investment, etc.). \n f) Permanent Resident Visa To establish permanent residency in Bolivia. It is indefinite in duration and requires proof of financial means or stable income, a police clearance certificate, a health certificate, and additional documents depending on the category (family reunification, retirement, investment, etc.). \n \n Visa requirements may change depending on nationality, so it is recommended to consult the nearest Bolivian consulate or embassy before applying. "]
["Environmental"," Bolivia's environmental laws promote sustainable development and environmental protection. Sustainable development, as defined by Law No. 1333 , is the process of meeting current needs without compromising the ability of future generations to meet their own. Foreign investors must comply with these regulations to ensure successful business ventures in Bolivia. \n The key legislation includes: \n \n Environmental Law No. 1333 This law provides the primary framework for environmental protection and sustainable development, establishing principles, guidelines, and institutional responsibilities. \n Supreme Decree No. 24176 This decree regulates the Environmental Impact Assessment (\" EIA \") system, detailing procedures for obtaining the Environmental Impact Declaration (\" DIA \") and the Declaration of Environmental Adequacy (\" DAA \"). \n Law No. 755 This law controls and regulates chemical substances and precursors, requiring licenses for activities involving these substances. \n \n The Environmental Impact Assessment (\" EIA \") system is crucial for projects with significant environmental impacts. According to Supreme Decree No. 24176 , businesses must file an Environmental File, and projects are categorized based on their environmental impact into four categories: Category I (high impact), Category II (moderate impact), Category III (low impact), and Category IV (not categorized). Following the EIA process, obtaining an Environmental Impact Declaration (\" DIA \") may be required. The DIA serves as an Environmental License, authorizing the project's execution and specifying conditions for environmental compliance during its lifecycle. \n Businesses handling hazardous substances must obtain a License for Activities with Hazardous Substances (\" LASP \"), which may require an Environmental Risk Assessment (\" ERA \") to evaluate associated hazards. Additionally, for activities involving the production, storage, trade, import/export, or use of regulated chemical substances and precursors, appropriate licenses must be obtained under Law No. 755 and Supreme Decree 25846. "]
["Real Estate","Bolivia guarantees the protection of private property. Except for restrictions on owning land within 50 kilometers of international borders, Bolivian nationals and foreigners have equal rights and are subject to the same legal protections regarding the enjoyment and disposal of rights over real property.\n\nThe most common agreements executed over real estate assets in Bolivia for business development are purchase agreements (\ncompraventa), leases (\narrendamiento), usufructs (\nusufructo), and anticretico. Each type of agreement grants different rights to the contracting parties and is subject to particular requirements.\nWhen it comes to the acquisition or conveyance of property rights, a double formality is required: title and mode. The most common title and mode used for the conveyance of rights in rem is a public deed executed before a public notary (title) and its registration in the Offices of Real Estate Property (\nOficinas de Derechos Reales) (mode). Once the registry is completed, the property is deemed as transferred.\nBefore entering into any type of agreement that involves real property, investors are advised to perform a title search in which the titles, current registered owners, conveyance, and chain of tradition of the property are verified, and a land use analysis by which the allowed uses and activities over the real property are reviewed.\n"]
["Intellectual Property"," Industrial Property in Bolivia includes trademarks, slogans, trade names, trade emblems, geographical indications, patents, utility models, industrial designs, and layout designs of integrated circuits. Bolivia has ratified key international IP conventions, such as the Bern, Paris, and Rome Conventions, joined the World Trade Organization, and adheres to the TRIPS Agreement and World Intellectual Property Organization. The primary domestic law is Decision 486 of the Andean Community , which includes Bolivia, Colombia, Ecuador, and Peru, aiming for an integrated IP system. Decision 486 covers patents, utility models, industrial designs, genetic resources, trademarks, commercial names, and denominations of origin. While the Andean Community shares a single IP regime, rights must be registered in each member country individually. \n Trademarks A trademark is a unique symbol, phrase, word, or logo that distinguishes a product and legally represents a company. Trademarks must be registered to prevent unauthorized use. Trademark protection extends to similar marks that might confuse consumers. Registration prohibits the use of Bolivia's national symbols, immoral content, personal names without consent, and marks that have become public domain. Trademarks are protected for 10 years, with indefinite renewals. Trademark rights can be transferred but must be registered to be enforceable. \n \n Non-use Cancellation A trademark can be canceled if not used for three consecutive years within the Andean Community after three years of notification of registration. \n Registration Process SENAPI oversees the registration process, including oppositions and appeals, typically taking seven to nine months. \n \n Patents Patents grant inventors exclusive rights to use and market their inventions for 20 years. The Andean regime protects new products or methods with inventive steps and industrial applicability. After 20 years, inventions enter the public domain. Non-inventive items include discoveries, scientific theories, and mathematical methods; natural biological processes and materials; copyright-protected works; intellectual activities, games, or economic methods; software; and information presentation methods. \n Registration Process Patent registration with SENAPI involves filing an application, preliminary examination, publication for objections, and a patentability test. If all criteria are met, a patent registration certificate is issued. \n Copyrights Artistic and literary creations, including software, are protected by copyright rules. This protection only covers the expression of ideas, not the ideas themselves. In Bolivia, authors have two types of rights: moral and economic. Moral Rights are inalienable, non-transferable, and imprescriptible. They belong solely to the creator of a work and include claiming recognition as the work’s creator, maintaining the work’s integrity, keeping the work unpublished, retracting the work, and modifying the work before or after publication. Economic Rights can be negotiated or transferred, either voluntarily through a contract or involuntarily through debt collection or upon the author's death. They include reproducing/copying the work, communicating the work in public, distributing the work, and translating and adapting the work. Intellectual property rights for scientific or artistic creations are protected for up to fifty years after the author's death. While the transfer of these rights is allowed with some restrictions, unauthorized copying of protected works, including software, is prohibited by law. Regulations empower the confiscation of illicit copies. "]
["Consumer","Bolivia has consumer protection laws aimed at ensuring the safety, quality, and security of products and services. These laws are outlined in the \nGeneral Law of the Rights of Users and Consumers, enacted on December 4, 2013. This law mandates various obligations for providers to protect consumers from risks and damages.\nThe primary legislation governing consumer protection in Bolivia is the \nGeneral Law of the Rights of Users and Consumers (\"\nLaw No. 453\"). This law establishes the principles and regulations for consumer protection, defining the rights of consumers and the responsibilities of providers regarding the safety, quality, and security of products and services.\nProviders in Bolivia are obligated to ensure that their products and services are safe, of high quality, and secure for consumers. They must meet specific obligations, including ensuring that products and services adhere to safety and quality standards, prohibiting the sale of certain products, and effectively communicating any risks. Providers are liable for any risks or damages caused to consumers' health or physical integrity. The law prohibits the import, distribution, or marketing of expired, nearly expired, suspended, or prohibited products. If a product or service poses a risk after being introduced to the market, providers must immediately inform the authorities and consumers and take responsibility for withdrawing or suspending the product at their own expense.\nArticle 9 of the \nConsumers Law outlines critical responsibilities for providers, including ensuring the safety, quality, and security of their products and services, and prohibiting the sale of expired or unsafe products. If risks are identified post-market introduction, providers are required to inform authorities and consumers and withdraw or suspend the product. Authorities are empowered to enforce safety measures and can order the suspension or withdrawal of unsafe products. Providers must also replace withdrawn products or refund the purchase price. Authorities that fail to enforce safety measures are liable for their actions as public officials.\n"]
["Compliance","As part of its commitment to international standards on the prevention and sanction of money laundering, financing of terrorism, and financing the proliferation of weapons of mass destruction (AML/FT/FPWMD), Bolivia adheres to the guidelines set by the United Nations (\"\nUN\") and the Financial Action Task Force (\"\nFATF\"). Bolivia's dedication to these standards is reflected in various laws and regulations that impose obligations on companies to mitigate these risks.\nFor instance, \nLaw No. 262 (\"\nLaw on Anti-Money Laundering and Counter-Terrorism Financing\") enacted on July 30, 2012, establishes the framework for preventing money laundering and terrorist financing in Bolivia. This law requires companies to implement internal controls and risk management systems to detect and prevent such activities.\nFor companies in the real sector and those not supervised by any other entity, the Financial Investigations Unit (\nUnidad de Investigaciones Financieras, \"\nUIF\") requires the implementation of a Self-Control and Integral Risk Management System for Asset Laundering and Financing of Terrorism (\nSARM for its acronym in Spanish). This system obligates companies to establish policies, procedures, and controls to manage risks related to money laundering and terrorist financing.\nFinancial institutions, including banks, insurance companies, and securities firms, which are supervised by the Financial Supervisory Authority of Bolivia (\nAutoridad de Supervisión del Sistema Financiero, \"\nASFI\"), must implement an AML/CFT system according to the guidelines provided by \nASFI. This includes adhering to the regulations outlined in \nASFI Resolution No. 041/2015, which mandates comprehensive measures for detecting and reporting suspicious activities.\nIn addition to anti-money laundering efforts, Bolivia has committed to combating corruption and transnational bribery. \nLaw No. 004 (\"\nLaw Against Corruption, Illicit Enrichment, and Investigation of Assets\") enacted on March 31, 2010, establishes the legal framework for transparency and anti-corruption measures. This law creates administrative liability for companies benefiting from corruption-related crimes and mandates the implementation of anti-bribery and corruption prevention programs.\nThe Ministry of Transparency and Fight Against Corruption, established under this law, is responsible for overseeing and ensuring compliance with anti-corruption measures. Public entities are required to issue guidelines for the implementation of anti-bribery and corruption (\"\nABC\") programs, ensuring that companies adopt and maintain robust compliance frameworks to prevent corrupt practices.\n"]
["Personal Data","Bolivian law regarding data privacy is relatively undeveloped, with several areas not specifically regulated. However, businesses should adhere to principles recognized by the Bolivian Constitutional Court and international best practices concerning data protection.\nObligations and Roles in Data Protection\nUnder Bolivian legislation, companies are not assigned different roles (such as controller versus processor) based on how they process personal data. However, companies do have obligations. Per \nArticle 40 of Law 453 for Users’ and Consumers‘ Rights, any provider offering goods or services must adopt mechanisms that protect the secrecy, confidentiality, and privacy of their users' and consumers' information.\nData Security, Breaches, and Individual Rights\nData security is regulated under \nSupreme Decree 1793. Companies involved in digital certification, eGovernment, email, and digital signatures are required to implement measures that ensure personal data protection. Data breaches are treated seriously and can result in criminal charges or violations of constitutional rights to privacy.\nBolivian citizens have the right to access their collected and stored information, object to its collection and storage, request and obtain its cancellation and deletion, rectify any inaccuracies, and request its confidentiality.\nMarketing, Advertising, and Data Transfer\nThough tracking technologies, targeted advertising, and behavioral advertising are not explicitly regulated, the general rules regarding data protection apply to marketing communications. For any data sharing, such as customer matching, the personal data owner must provide unequivocal consent, which must be in writing if the company falls under \nSupreme Decree 1793.Before giving their consent, the owner of personal data should be informed about the potential recipients of the information, as well as the identity, address, and legal representative of the entity responsible for data processing.\nViolations and Penalties\nIf a judge recognizes a privacy violation as a criminal offense under the \nCriminal Code, it can be sanctioned with imprisonment of 1–5 years or fines. Individuals have a general private right of action to claim compensation for non-material damage caused by wrongful data processing.\n"]
["Antitrust","Bolivia's antitrust laws are designed to promote competition and prevent anti-competitive practices, ensuring that consumers have access to high-quality goods and services at fair prices while enabling businesses to compete fairly. The primary legislation governing antitrust in Bolivia is the \nLaw of Control of Monopolies and Free Competition No. 1654, enacted in 1995. This law is enforced by the Authority of Fiscalization and Social Control of Companies (\"\nAEMP\"), which is responsible for maintaining competitive markets, preventing monopolies, and sanctioning anti-competitive behavior.\nHowever, it's important to note that enforcement and specific practices under Bolivia's antitrust framework can vary significantly across different sectors. Unlike some countries with a single, unified antitrust regulation, Bolivia's approach is sector-specific. For instance, industries such as telecommunications, electricity, hydrocarbons, and public services are governed by their own regulations, such as \nLaw 1600 and Supreme Decree 0071. These sector-specific laws include provisions for merger control, requiring regulatory approval for mergers that could reduce competition within these industries.\nBolivia’s antitrust laws prohibit several practices, including agreements to fix prices, divide markets, or limit production; abuse of dominant market positions; and unfair commercial practices such as deceptive advertising. Violations of these regulations can lead to fines and other penalties imposed by the \nAEMP.\nIn regulated sectors, there are no specific thresholds related to turnover, market share, or transaction value that automatically trigger the need for merger approval. Instead, any merger resulting in a change of control within these sectors requires regulatory scrutiny to ensure it does not harm competition by creating or strengthening a dominant market position.\nOverall, while Bolivia's antitrust framework aims to promote fair competition, the application of these laws varies across different sectors, reflecting the country’s reliance on sector-specific regulations rather than a single, overarching antitrust law. Compliance with these regulations is crucial to avoid penalties, including the potential revocation of licenses or concessions for non-compliance.\n"]
["Infrastructure and Public Utilities"," Government Procurement The primary regulation governing government procurement in Bolivia is Supreme Decree No. 0181 , issued on June 28, 2009. This decree provides the legal framework for the procurement of goods and services by public entities and supersedes any previous decrees that may contradict its provisions. The decree covers various subsystems, including the goods and services contracting subsystem, the goods management subsystem, and the goods disposal subsystem. \n To ensure transparency in the procurement process, Bolivia utilizes the State Contracting Information System (\" SICOES \"), which is administered by the Bolivian Ministry of Economy and Public Finance. SICOES is an online platform that publishes detailed information about public procurement processes, from initial calls for bids to the final execution of contracts. This system allows foreign and domestic investors to access critical information about ongoing and upcoming procurement opportunities. \n Key Elements of Supreme Decree No. 0181 \n \n Normative System of Public Procurement (\"SNCP\") This system governs all procurement activities by public sector entities, ensuring that procurement processes are standardized across the government. \n Procurement Modalities The decree outlines several procurement methods, including public tenders, price comparisons, direct contracting, and exceptional contracting. The choice of method depends on factors such as the nature of the goods or services, their complexity, and the contract's value. \n Procurement Stages The procurement process is structured into several stages: planning, preparation of bidding documents, invitation to bid, evaluation of offers, contract award, and execution. Each stage is designed to ensure transparency and competitiveness. \n Procurement and Contracting Unit (\"UPC\") Every public entity must have a Procurement and Contracting Unit responsible for managing the procurement process from planning to execution. The UPC ensures that all procedures comply with the decree and other relevant regulations. \n Mandatory Registration Suppliers and contractors must register in the Registry of Providers and Contractors (\" RUP \") maintained by the Ministry of Economy and Public Finance to participate in public procurement. \n E-Procurement System (\"SICOES\") SICOES is the mandated platform for managing all public procurement activities electronically. It allows public entities to publish procurement notices, receive bids, and award contracts. \n Appeals and Dispute Resolution The decree includes provisions for suppliers and contractors to appeal decisions made during the procurement process. These appeals are typically handled by the head of the contracting entity. \n \n By adhering to the regulations established under Supreme Decree No. 0181 , businesses can effectively navigate Bolivia's public procurement landscape, increasing their chances of securing government contracts. \n Mining Bolivia, a country with a rich mining heritage dating back to the pre-Inca empire, has always considered mining a significant part of its economy. The country's mining tradition is symbolized by the world-renowned \" Cerro Rico \" in the silver-rich Potosi district, which has produced silver for over four centuries. \n Bolivia's mining potential extends beyond the Cerro Rico. The government estimates that over 60% of the country's territory remains unmapped or unexplored. The highlands and the Andes region are known for their potential for base metals, while the Uyuni Salt Flats is the world's largest lithium deposit. The eastern part of the country houses the Mutun iron core deposit, and the Precambrian zone and the southeast region have potential for gold, platinum-group metals, nickel, and semi-precious stones. \n Legal Framework and Regulatory Bodies The Bolivian mining sector operates under a civil law system regulated by several statutes, including the Bolivian Constitution, the Mining and Metallurgy Law (\" Law No. 535 of May 28, 2014 \"), Law No. 845 dated October 24, 2016, and Law No. 367 dated May 1, 2013. These laws establish the principles, guidelines, and procedures for granting, maintaining, and extinguishing mining rights, and they also define the institutional structure and the attributions of public authorities within the mining production chain. \n The Bolivian Constitution recognizes the state's control over the mining production chain, including activities under a mining contract, mining rights, or preexisting rights. It also states that the Bolivian people fully own ground and underground resources, prohibiting the transfer of ownership of these resources. However, the state can authorize their exploration and exploitation. \n The Mining and Metallurgy Law stipulates that all mining activities must be executed under the new legal framework of administrative mining contracts. The Jurisdictional Administrative Mining Authority (\" AJAM \") is responsible for converting the existing Special Temporary Authorizations (\" ATEs \"), formerly known as \"mining concessions,\" into administrative mining contracts. \n Foreign Investment and the Role of the State The state plays a crucial role in the mining sector, with the AJAM overseeing and controlling all mining activities in Bolivia. It is also responsible for managing the Mining Registry and drafting legislation to regulate the transition of the ATEs into administrative mining contracts. The Ministry of Mining and Metallurgy is responsible for the mining policy, while the Bolivian Geological Mining Service (\" SERGEOMIN \") manages the mineral titles system. \n Foreign companies or individuals are not authorized to execute administrative mining contracts, hold any mineral rights, or own real estate property within 50 kilometers of the Bolivian international borders, as per Article 28 of the Mining and Metallurgy Law . "]
["Termination of a Business "]
["Voluntary Liquidation"," Termination of a Business in Bolivia In Bolivia, the procedures for the dissolution and liquidation of companies are governed by the Bolivian Commercial Code and Commercial Registry regulations , among other specific legal provisions. \n Dissolution of a Company The dissolution of a company signifies its termination. This can occur due to various reasons. Partners might unanimously opt for dissolution, or the company might reach the end of its predetermined term without an extension. Dissolution can also be triggered by meeting a pre-established condition, realizing the company's goal, or deeming it unattainable. A substantial capital loss, as defined in the foundational contract, can instigate dissolution, as can a bankruptcy declaration, unless preventive measures are taken. Merging can dissolve the original company. If the number of partners decreases to one or, for corporations, falls below three without new additions within three months, the company dissolves. Other reasons specified in the founding contract or a judicial dissolution can also lead to this outcome. \n Liquidation of a Company Following dissolution, the company enters the liquidation phase, maintaining its legal identity solely for this purpose. The company's administrative body typically oversees the liquidation. If needed, liquidators are designated within 30 days post-dissolution. These liquidators are then responsible for preparing a comprehensive inventory and balance within 30 days of their appointment. Non-compliance can lead to their removal and potential liability for damages. Liquidators assume the duties of administrators, settling all debts and distributing the remaining assets among partners. They must also provide updates to partners about the progress of the liquidation every three months. Per the Law of Companies , creditors are prioritized over partners during payment. After settling or securing all debts, the residual assets are distributed among partners. The final step involves the liquidators facilitating the cancellation of the company's registration, marking the end of its legal existence. \n Additional Information The dissolution, liquidation, and cancellation processes can be consolidated into one act ( P rocedure 41 ) or executed separately ( Procedures 42 and 43 ). This is governed by the Commercial Code, D.L 16833, and Administrative Resolution SEPREC N° 024/2022. \n For submissions, both in-person and online, the required documents include: \n \n Registration Request Form \n Original liquidation and final balance \n Wealth distribution proposal \n Public Testimony of Dissolution and Liquidation \n \n Financial institutions will additionally require ASFI approval. For physical submissions, payment is needed for the dissolution and liquidation's publication in Bolivia's Electronic Gazette of the Commerce Register. Foreign liquidators must also provide proof of residency. \n After the form is submitted and the fee paid, a legal review is initiated. After the review, the certificate can be retrieved from the National Commerce Registry system. If any issues are identified, they are communicated for correction. "]
["Insolvency and Bankruptcy Regime","Not applicable.\n"]