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Hiring employees and recruitment requirements in Bolivia

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Bolivia, the South America nation has evolved itself into an attractive destination to hire local staff and engage in commercial operations. The region has an increasingly educated labour force who have significantly low labour costs. Are you interested in hiring staff in Bolivia? If so, then we suggest you watch the informative presentation below and learn about the different ways to employ local Bolivia staff and key employment considerations.

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Hiring employees and recruitment requirements in Bolivia

  1. 1. www.bizlatinhub.com Recruitment & Hiring Requirements in Bolivia
  2. 2. Yes – 3 months Is there an employee probation period? Yes Do staff need a local employment contract? Yes Can expatriate staff be hired? Minimum of 15 days per annum Vacation entitlement Max employer contribution is 17.71% Total cost of employment Employers - they must also pay employee’s social security Who manages withholding tax? • Christmas Bonus • Medical Insurance • Paid Vacations Employee benefits Key Considerations: Employment Find below some of the key considerations that should be taken into account before contracting staff in Bolivia.
  3. 3. Through a local legal entity Through a PEO solution: Professional Employer Organization Pathways to hiring staff
  4. 4. Advantages: • Greater control of your employees • Better knowledge of local market, laws and regulation • Viewed more positively than a PEO solution Forming a Legal Entity in Bolivia In Bolivia, there are (3) main types of legal entities: Limited Liability Companies (S.R.L.), Public Corporations (S.A.) and Foreign Branch Offices Disadvantages: • High set-up/ongoing costs • Administration involved in managing a local company • Accounting and tax obligations
  5. 5. Advantages: • You can operate without forming and maintaining a local entity • Limited legal responsibility • Cost-effective way to convert international contractors into employees Disadvantages: • The PEO becomes a co-employer • Loss of control • Costs involved with PEO services • Compromised company culture Professional Employer Organisation International PEO is a method to employ staff without having your own company
  6. 6. Biz Latin Hub is a market leader in helping individuals and companies to successfully do business globally and has multilingual services that are reliable, tailored and responsive. Our group is owned and managed by an experienced team of local and expat professionals, dedicated to assisting our clients to navigate their way through the complexities of the global business environment. We can help!
  7. 7. See how our services can support your global expansion. Legal Services Accounting & Taxation Immigration
  8. 8. Are you ready to expand globally? Contact us now. contact@bizlatinhub.com www.bizlatinhub.com