To own or become partner of a company in Bolivia, one does not need any special migratory status, foreigner carnet, or visa. Any foreigner can constitute a company or become a partner of a company in Bolivia. Foreigners typically prefer to incorporate a limited liability company or a corporation. Foreign employees do not require work permits, but their work agreement must be registered with the Bolivian labor authorities within 90 days after being signed. They need a special purpose visa to sign the agreement and then a one-year residence visa to carry it out.
While Bolivia is generally open to foreign direct investment, with the 2014 investment law guaranteeing equal treatment of national and foreign firms, public investment still has priority over private investment (both national and foreign) with the government determining which sectors require private investment.
Article 320 of the Bolivian Constitution states the following with regard to foreign investment:
Furthermore, there are limits on foreign control and right to private ownership and establishment. While there is a right for foreign and domestic private entities to establish and own business enterprises, there are some areas where preference or special treatment may be given to Bolivian competitors. Usually, this is in key sectors where private companies compete with state owned enterprises. Foreign investment is not allowed in matters related directly to national security and only the government can own natural resources.
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