Bolivia
Make employment in Bolivia easy. Let us handle payroll, benefits, taxes, compliance, and even stock options for your team in Bolivia, all in one easy-to-use platform.
- Capital City
La Paz
- Currency
Bolivian boliviano (Bs, BOB)
- Languages
indigenous languages and Spanish
- Population size
11,428,245
Facts & Stats
- Capital City
La Paz
- Currency
Bolivian boliviano (Bs, BOB)
- Languages
indigenous languages and Spanish
- Population size
1,14,28,245
- Ease of doing business
Medium
- Cost of living index
$ (108 of 139 nations)
- Payroll frequency
Monthly
- VAT - standard rate
13%
- GDP - real growth rate
2.2 (2019)
The Plurinational State of Bolivia (Estado Plurinacional de Bolivia) is a constitutional unitary state, divided into nine administrative departments.
Bolivia hosts a rich cultural history that’s stretched for over 2,500 years, a multiethnic heritage of 36 indigenous groups, the majestic Andes range (South America’s largest and highest peaks), and rich biodiversity.
Bolivia’s growing economy and its low corporate tax rate are key reasons why companies are increasingly considering expanding into Bolivia.
Grow your team in Bolivia with Remote
Looking to employ workers in Bolivia? Companies hiring in Bolivia must either own a legal entity in the country or work with a global employment solutions provider, usually one that provides employer of record services.
Remote can employ your team in Bolivia on your behalf through our local legal entity in the country and handle payroll, benefits, taxes, and compliance for your Bolivia team. You can also pay contractors now in Bolivia with Remote in some currencies (talk to an expert now for full details).
Risks of misclassification
Bolivia, like many other countries, treats self-employed individuals or contractors and full-time employees differently. Misclassification of contractors in Bolivia may lead to fines and penalties for the offending company.
Employing in Bolivia
Bolivia’s Labour General Law of 1942 (Ley General del Trabajo) spells out provisions guiding minimum wage rates, employee protections, workers’ rights, and labour relations across Bolivia.
Employees in Bolivia enjoy protections against discrimination based on age, religion, sexual orientation, gender expression, and race.
Common questions that could come up during the hiring process include minimum wage, overtime rates, and guaranteed paid time off. Remote can help you offer a complete, competitive, and compliant benefits package to your employees in Bolivia.
Minimum Wage
The minimum wage in Bolivia is B$2,164 per month, usually increasing by 2% each year. The government typically issues these adjustments around May, requiring retroactive changes effective from January.
Payroll Cycle
For customers of Remote, all employee payments will be made in equal monthly instalments on or before the last working day of each calendar month, payable in arrears.
A 13th month salary payment is required at the end of the year and this payment is equivalent to one month’s pay.
A 14th month salary is also mandatory, but only if the Gross domestic product of the country is over 4.5%. This will be known usually in July of every year and eventually the 14th salary will be paid in December.
Onboarding Time
We can help you get a new employee started in Bolivia fast. The minimum onboarding time we need is only 15 working days.
Our team ensures your employees are onboarded and paid as quickly as possible while keeping your business compliant with all local employment legislation. The minimum onboarding time begins after the employee submits all required information onto the Remote platform. The onboarding timeline is also dependent upon registration with local authorities.
For all non-nationals of the country of employment, the Right to Work assessment (if applicable) will add three extra days to the total time to onboard. There may be extra time required if we need to follow-up on the right to work assessment.
Please note, payroll cut-off dates can impact the actual first day of employment. Remote has a payroll cut-off date of the 10th of the month unless otherwise specified.
11 Public holidays
Want to see and manage all holidays? Sign up for our free HRIS!
Effortless HR in Bolivia: Take the Tour
Competitive benefits package in Bolivia
At Remote, we’re obsessed with helping you craft the best possible employee experience for your team. We are leading the way in practising “fair equity,” which means making sure employees everywhere have access to both the required and supplemental benefits they need to thrive (and that will allow you to attract the best local talent).
Our benefits packages in Bolivia are tailored to fulfil the local needs of your employees. Typically, our packages contain some or all of the following benefits:
Health Insurance
Dental Insurance
Vision Insurance
Mental Health Support
Pension or 401(K)
Life and Disability Insurance
Fair Pricing in Bolivia
Employer of Record
Hire and pay your global team
Starting at $599/month
for annual plans
Top features
Satisfaction guaranteed
No deposits or hidden fees
Zero onboarding or offboarding fees
Compliant equity incentives support including withholding and reporting
Built-in security and compliance
Fast onboarding (average 2-3 days)
Flexible, localised benefits
Contractor Management
Compliantly onboard and pay contractors
$29
per contractor/month
Top features
Only pay for contractors you actively work with
Work with contractors in 200+ countries
Create, edit, and sign tailored, localised contracts
Approve contractor invoices with one click or auto-pay
Transparent payments with complete visibility
Payroll
Consolidate your multi-country payroll
$29
per employee/month
Top features
Simplify: Comprehensive platform that integrates all payroll functions
Support: Personalised assistance with a dedicated team and specialists
Accuracy: Test runs and parallel pay runs before implementation
Compliance: Adhere to local labour laws in every country
Timeliness: Accurate and on-time payroll with labour authority reporting handled
Experience: Seamless payroll with easy access to payslips and expenses
Top features
Guided onboarding and offboarding
Employee profile and document management
Time and attendance (time off and tracking)
Expense management and reimbursement
Employee self-serve on the platform and mobile app