When incorporating, you must look at the law in the country, in Bolivia is civil law (napoleonic) law. You will want to get some local advice as to how to best structure a company in Bolivia. Electronic signatures are permitted.
The country code BO is for Bolivia and the most common company type in Bolivia is a LLC.
It typically takes about 3 weeks to setup a LLC in BO. The types of cash you can use to fund your legal entity is often BOB and Any legal tender.
Yes, one is allowed to re-domicile a LLC from BO. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least This means it is not possible for you to own a LLC in Bolivia as a sole shareholder. You must have other shareholders, they can be nominees or de facto shareholders. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is encouraged, up to 100% of the total shareholding.
A company is only required to have one director. Speaking of shareholders, corporate directors are permitted. Directors data is typically not exposed publicly. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for an office which can receive litigation or other legal process on behalf of the business. Furthermore, a company secretary is not always necessary, at least not by law.
There is a legal obligation to file accounts on a yearly basis. Consequently, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are in effect. A company is thinly capitalised when there is a greater proportion of debt than equity. The minimum capitalization for a Bolivia Civil Law (Napoleonic) is BOB 300.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are not disclosed in the public registry of Bolivia, bolivia us embassy. Shareholders are not disclosed in the bolivia us embassy.
Typically companies take 3 weeks to setup and there are 1 director(s) required and 2 shareholder(s) required at the time of incorporation.
Overall we think Bolivia is a ok option and have given it a score of 37 as an IO score, using the Incorporations.IO proprietary formula.
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