Globelise

Hire confidently and
compliantly in
Bolivia

Hire, onboard and pay you global team anywhere in the globe!

Capital

Sucre (constitutional and judicial), La Paz (executive and legislative)

Currency

Boliviano (Bs, BOB)

language

Language

Spanish and 36 other Indigenous languages

Timezone

UTC - 04:00

Bolivia is a constitutional unitary state with a growing economy and a hotspot for investors, thanks to its low corporate tax rate. However, high public spending and growing domestic credit have resulted in an increase in public debt and a reduction in international reserves and fiscal savings. Efforts to raise the efficiency in the management of health and education services, social protection networks and coordination among government levels could improve the economic situation in Bolivia.

How to build a team in Bolivia

Employers need to follow the strict employment guidelines set forth by the local authorities before they could employ in Bolivia. This process can be time-consuming as the company first needs a legal entity in the country and it needs to manage payroll, tax, benefits and compliance.

Global payroll solutions make it easy to find and hire top talent in Bolivia. With one seamless integration and local legal entity, we take care of the compliance matters so that you can start your globelizing plan immediately.

Compliance risk

Risk of misclassification

Bolivia’s worker classification labour and tax laws distinguish between contractors and full timers. If the individual meets the legal definition of an employee but is classified as a contractor, your company will face penalties.

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Bolivia
Guide
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Bolivia
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