The ISO code of Bolivia is BO according to the ISO 3166 standard. The local name of the country is the same as its English name. Bolivia capital city is Sucre (constitutional); La Paz (admin.). People in Bolivia speak the Spanish, Uru, Aymara, and Puquina languages. On 6 August 1825, Bolivia emerged as a sovereign political entity. In the year 08/06/1825, Bolivia emerged as a sovereign political entity. The largest cities in Bolivia are Sucre, La Paz , Santa Cruz, El Alto.
Bolivia is located in the UTC -04:00 time zone, which is also called Bolivia Time or BOT. The internet country code top-level domain (ccTLD) for Bolivia is .bo. Other domains assigned to Bolivia are .lat. The International dialing code for Bolivia is 591. People in Bolivia drive on the right side of the road. Total land area of Bolivia is 1,098,581 km² (approx. 424,163 mi²). Bolivia is a landlocked country.
Bolivia is located in South America. Bolivia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Bolivia faces various issues, including the clearing of land for agricultural purposes and the international demand for tropical timber are contributing to deforestation, soil erosion from overgrazing and poor cultivation methods (including slash-and-burn agriculture), desertification, loss of biodiversity, industrial pollution of water supplies used for drinking and irrigation.
Doing business in Bolivia
We offer various corporate services in Bolivia jurisdiction. These services can serve both, people coming from Bolivia and foreigners. If you plan on doing business in Bolivia you might be interested in contacting us.
To find out about starting your business in Bolivia click on company formation in Bolivia.
To find out how to open a bank account in Bolivia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Bolivia.
Choose preferred service below or continue reading to find out more about Bolivia.
Demographics of Bolivia
The total population of Bolivia is 11,215,674 people. In Bolivia, the population density is 9.46 people per square kilometer (25 per square mile). Because of this statistic, this country is considered to be very sparsely. The ethnic diversity is rather diverse according to a fractionalization scale which for Bolivia is 0.7396. Bolivia has approximately 154330 foreign immigrants. The median age is approximately 23.4 years. In Bolivia, 34.19 in every 100 people use internet. Bolivia has a Human Development Index (HDI) of 0.667.
The majority religion of Bolivia is Christianity, Bolivia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Bolivia.
Culture of Bolivia
People in Bolivia speak the Spanish, Uru, Aymara, and Puquina languages. According to data on inbound tourists in Bolivia, 798,000 tourists arrive in the country each year. One of the most popular national dishes of Bolivia is salteñas. To read more click on culture of Bolivia.
Geography of Bolivia
Bolivia is considered to be a vast nation because of its total area. Its total land area is 1,098,581 km² (approx. 424,163 mi²). Bolivia is located in South America. Its capital city is Sucre (constitutional); La Paz (admin.). Bolivia has 5 neighbouring countries. Its neighbours include Argentina, Brazil, Chile, Paraguay, and Peru. Total length of land borders of Bolivia is 7252 kilometers (~2,800 miles).
The highest point of Bolivia is Sajama, with its official height being 6542 m (21,464 ft). Including land mass and EEZ, the total area of Bolivia is approximately 1,098,581 km² (~424,163 mi²). The most notable natural resources found in Bolivia are tin, natural gas, petroleum, zinc, tungsten, antimony, silver, iron, lead, gold, timber, hydropower.To read more click on geography of Bolivia.
Economy of Bolivia
The currency of the country is Bolivian boliviano. The symbol used for this currency is Bs., and it is abbreviated as BOB. 3.5% of population in the country are unemployed. The total number of unemployed people in Bolivia is 392,549. Each year, Bolivia exports around $12.16 billion and imports roughly $9.28 billion. The Gini Index of the country is 46.6. Bolivia has a Human Development Index (HDI) of 0.667.The Global Peace Index (GPI) for Bolivia is 2.025. Bolivia has a government debt of 26.7% of the country's Gross Domestic Product (GDP), as assessed in 2014. Bolivia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bolivia is $70,279 billion. Each year, consumers spend around $11,358 million. The ratio of consumer spending to GDP in Bolivia is 0%, and the ratio of consumer spending to the world consumer market is 0.0327. The corporate tax in Bolivia is set at 25%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Bolivia is 13%. In 2013, Bolivia received 658.6 million USD in foreign aid.In 2014, the foreign aid amounted to 721.8 USD.To read more click on economy of Bolivia.
Infrastructure of Bolivia
Infrastructure quality in Bolivia is rated to be at 2.17. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Bolivia, 90.5% of the population has access to electricity. There are 180,988 internet hosts in Bolivia. Bolivia has 855 airports nationwide.
The logistics performance index of Bolivia is 2.48. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.68. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Bolivia is 133. To read more click on infrastructure of Bolivia.
Politics of Bolivia
Bolivia, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Bolivia is 2. Citizens in Bolivia experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Bolivia, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Evo Morales.
According to the World Bank Group, the government effectiveness index of Bolivia is -0.59. This indicates that the government of Bolivia is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Bolivia, the legislative power is vested in a Plurinational Legislative Assembly. The Global Peace Index (GPI) for Bolivia is 2.025. The strength of legal rights index for Bolivia is 0. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Bolivia received 658.6 million USD in foreign aid. In 2014, the foreign aid amounted to 721.8 USD. Bolivia is a member of the United Nations (UN). On 14 November 1945, it joined the UN at it inception date as a full member state. Bolivia is one of the original UN member states who founded the organization. Bolivia is a member of the World Bank. To read more click on politics of Bolivia.
Environment of Bolivia
Bolivia emits 1.6 metric tons per capita of CO2. 587400 km² of Bolivia's territory is covered in forests. and forest land comprises 53% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Bolivia is 133. To read more click on environment of Bolivia.
Company formation in Bolivia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Bolivia.
When establishing a company in Bolivia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Bolivia that will affect the establishment and growth of one's business. Contact us or click on company formation in Bolivia to read additional information when setting up a business.
Bank account opening in Bolivia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Bolivia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Bolivia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Bolivia or contact us.