Residency by Investment in Bolivia: Why it's a Good Choice and How to Apply
Did you know that you can get residency in America Latina by expanding your business? Bolivia is one of the best countries for foreign investors to create or pursue a company due to their tax benefits and low currency. In this article we are going to explain to you why Bolivia is a great opportunity.
One of the biggest advantages of obtaining investment residency in Bolivia is the relatively low cost of living. Bolivia has a lower cost of living compared to many other countries in the region, making it an attractive destination for foreign investors. Additionally, Bolivia has a stable political and economic environment, making it an ideal place for investment.
The country also has a diverse and abundant natural resource base, with a wide range of investment opportunities in agriculture, mining, and tourism. This program also offers tax exemptions for certain types of investments, making it an attractive option for those looking to start or expand their business in Bolivia.
Am I eligible to apply?
To obtain investment residency in Bolivia, you must meet certain requirements. These include:
Making an investment of at least $USD30,000 in Bolivia this can be thought business investment or a real estate investment.
Providing documentation proving the source of the investment funds.
Submitting a criminal background check from the applicant's home country.
Providing a medical certificate.
Obtaining a police clearance certificate from Bolivia.
How is the process?
To apply for investment residency in Bolivia, you must first identify the investment you wish to make in the country. Once the investment is identified, applicants must submit the required documentation to the Bolivian embassy or consulate in their home country. The application process typically takes 3-6 months to complete.
Advantages and Disadvantages
As with any investment, there are both advantages and disadvantages to obtaining residency by investment in Bolivia. Some of the advantages include:
Access to a Growing Market: As a member of the Andean Community, Bolivia offers investors access to a large and expanding market.
Low Cost of Living: Bolivia has a low cost of living, which can be attractive to investors who are looking to reduce their expenses.
Stable Political Environment: Bolivia has a stable political environment and a government that is committed to attracting foreign investment.
Family friendly: You can also bring your family members with you and they will have the same rights and privileges as you.
Fast application: Bolivia allows investors to obtain a residency permit in a relatively short period of time. You can apply for permanent residency after just two years of living in Bolivia.
Multiple investment options: This visa allows you to invest in a wide range of businesses, including real estate, tourism, manufacturing, and agriculture.
Tax friendly: The program is also an attractive option for those looking to start or expand a business in Bolivia, as it offers tax exemptions for certain types of investments. Here we leave of all the type of investments that are exempts;
Agriculture and livestock
Forestry and timber
Mining and hydrocarbons
However, there are also some potential disadvantages to consider, including:
Language Barrier: Spanish is the official language of Bolivia, and investors who do not speak Spanish may face challenges in conducting business.
Limited Infrastructure: While Bolivia is making efforts to improve its infrastructure, there is still room for improvement in areas such as transportation and telecommunications.
Bureaucracy: Like many countries, Bolivia has a complex bureaucracy that can be challenging to navigate for investors who are not familiar with the local regulations and processes.
So, if you are interested in finding out more about residency by investment program and its opportunities to develop business, contact us today! Below this article, you will find a link to set up a free ten-minute consultation with us to discuss your options further.
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