Bolivia’s unique culture, geographical areas, rich history, and mouthwatering cuisine make it a nation with a lot of potential for tourism and a lot of attractions. There, starting a tourist company is unquestionably a wonderful idea.
How to launch a tourism company in Bolivia
Starting a tourism company in Bolivia entails several processes, such as:
Study the market
Research the market demand for your product or service and the sort of tourist company you intend to launch. Think about the local competitors and how you can set your company apart from others.
Construct a business strategy
You may establish the methods and techniques you’ll employ to accomplish your company goals and objectives with the aid of a business plan. A marketing strategy and financial forecasts should also be included.
Choose the appropriate business type and legal structure
The number of individuals who will make up the company, the amount of cash available, and the sort of business will all influence the company type and legal structure you choose. Some of the most typical business categories in Bolivia include the following:
Sociedad de Responsabilidad Limitada (SRL) or Limited Liability Company (LLC)
Each partner’s responsibility in a Bolivian SRL is limited to their capital contribution. There may be a maximum of 25 partners in this kind of business, and there must be at least 4 supervisors or administrators.
Sociedad Anónima (S.A.) or public corporation
In Bolivia, a public corporation must have at least three shareholders with limited responsibility for their contributions. In Bolivia, there are two methods to form an S.A. The first is by a single act (Sociedad en Comandita por Acciones Constituidas por Acto nico) or by public share subscription (Sociedad en Comandita por Acciones por Suscripción Pblica de Acciones).
Empresa unipersonal or the unipersonal company
A single individual (domestic or foreign), who will carry out the firm’s commercial activity, forms a unipersonal corporation. Since the business owner would be liable for any corporate debts with their assets, it is advised to appoint a legal manager and an accountant.
Creating and signing the power of attorney
If your shareholders are not in Bolivia, your legal representative will need a Power of Attorney (POA) to complete the procedure locally. The appropriate person must sign this Power of Attorney. Also, keep in mind that extra documents will be needed for stockholders who are foreign nationals. All foreign papers must be appropriately legalized and apostilled (if necessary), and physical copies of these documents must be provided to Bolivia. Finally, keep in mind that documents written in languages other than Spanish will need to be translated before they can be accepted by the local authorities.
Register the business with the public registry of commerce in Bolivia
Prepare all the necessary paperwork and submit it to the Registro Publico de Comercio, or Public Registry of Commerce, of Bolivia (RPC). This stage may be completed online through the “Mi Empresa” portal, which makes it simple to submit all the paperwork necessary for each kind of firm. The kind of company, name, registered office location, legal representative, type of business, and an application form that can be found on the platform are just a few of the materials required. After the paperwork is turned in, the incorporation costs must be paid at the bank or online. All of the paperwork will be examined by the RPC before the registration procedure is completed. The business will get a commercial registration number as an identifying number. Your business becomes legally established after you’ve finished this stage.
Obtain the appropriate authorizations and licenses
To find out what licenses and permissions are necessary to run a tourist company in Bolivia, get in touch with the local authorities. This can include a business permit, a tax registration, and other licenses required by your industry.
Choose the financing plan that best satisfies your requirements after weighing your available alternatives. This might include investments, loans, or handouts from family and friends.
Promotion and marketing
Create a marketing strategy to get clients to your company. This can include developing a website, and a social media following, and placing advertisements in regional travel guides and directories.
You may need to bring on more personnel as your company expands to assist operate and managing it. When employing staff, be sure you abide by local labor laws and regulations.
Stay up to date
Keep abreast of market developments and trends, and take the initiative to modify your operations to better serve your clients.