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A business visa is required for anyone who intends to travel to Bolivia to conduct business.
Technically, a business visa to Bolivia can also be called a multiple Visa. It will be granted for one year and then it is possible to renew for the same period.
Bolivia might not be the most sought-after investment destination for Latin America and Caribbean but it does offer a lot of potential with many unexplored markets and areas that are ripe to receive capital injections.
The gross domestic product (GDP), has experienced significant growth in Bolivia over the past few years. increasing more than four-foldBetween 2005 and 2019, Between 2005 and 2019. has predicted that it would bounce back considerablyThe registering a growth rate of 5.5% at the end 2021.
While Bolivia’s fossil fuel deposits have traditionally drawn significant investment, the country also sits on sizable reserves of lithium, ores, and precious metals. Bolivia has an extensive agricultural sector and a high-quality manufacturing sector. contributes more than 10% of GDP.
SEE ALSO Lawyer in Bolivia: Find the Right Corporate Legal Firm
It is important to note that Bolivia has a very low cost of doing business. According to a new report. has the second-highest rate of English proficiencyThere are many non-English speaking countries throughout Latin America and Caribbean.
Bolivia was also founded member of the Andean Community of Nations. This regional association includes Peru, Ecuador and Colombia. implementing a series of measures to deepen integrationThese are advantageous for your business.
The country awaits formal acceptance in order to be accepted into the organization. the Southern Common Market (Mercosur) — 30-year-old economic associationIt includes Argentina and Brazil as well as Paraguay and Uruguay.
These factors all make Bolivia an attractive investment destination. To do so, it is essential to get a Bolivian visa.
Read on to find out more about Bolivia’s multiple visa, or go ahead and contact us nowTo discuss our support for you in South America, and market entry.
Conditions for multiple visas in Bolivia
A multiple visa permits multiple entries to Bolivia over its validity period and it is commonly used by foreign investors who seek a Bolivian visa for business purposes.
Foreigners need to provide multiple documents and pay $200 visa processing fees in order to obtain multiple visas.
You will need the following documentation to get multiple visas in Bolivia:
- A completed visa application sworn declaration form
- Interpol issued a Certificate of Good Conduct
- Passport valid for at minimum six months
- Yellow fever vaccination certificates and other relevant health certificates (depending on the country from which you’re entering Bolivia).
- Recent passport-style headshot photographs
- Documentation proving payment for the visa
A multiple visa to Bolivia takes approximately 14 days for processing.
Investors looking for a Bolivian business visa have other options
A special purpose visa is another option for anyone looking to obtain a Bolivian business visa. It allows you to visit Bolivia in a short time and permits visitors who are involved in specific activities.
For anyone developing business activities, or who is in the process of applying for temporary or permanent residence, the visa is granted for 30 days — which can be extended for up to 90 days. The visa is granted to anyone who works in temporary or seasonal work for up 180 days.
Special purpose visas cost differently depending on their length. A 30 day visa may cost as little as $60 while a 90 day visa will cost $130. 180 days can be purchased for up to $1450.
For anyone who requires a Bolivia business visa, temporary and permanent residence are also options. These visas require additional documentation, in addition to those for multiple purposes and special visas. This includes proof of financial solvency.
The cost of residency permits is also determined by their duration. A one-year permit will run you $330. Two year permits can be purchased for $430 and three years permit are available for $535.
Biz Latin Hub will help you enter and operate in Bolivia
At Biz Latin Hub, we can assist you securing a business visa in Bolivia — be that a multiple visa or any other type, according to your needs. The local team of corporate support specialists has vast experience in working with Bolivian investors. Our extensive portfolio also allows us to offer customized packages of back-office services that meet every requirement.
Our portfolio includes company formation, accounting & taxation, legal services, due diligence, hiring & PEOAnd visa processingWe are able to support all aspects of your market entry in Bolivia and continue operations.
Additionally, we have representatives in 15 markets throughout Latin America and Caribbean. Our specialty is multi-jurisdictional market entry.
Contact us todayLearn more about our support for businesses in Latin America, the Caribbean and other regions.
Read more our team and expert authors.
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