What are the laws that regulate the employment relationship in Bolivia?

The laws that regulate the employment relationship apply to both foreign and national working for employers (individuals and entities) located or established in Bolivia. Employers must register with the Ministry of Labour, the Pensions Fund Administrator and a public health provider.

Do Bolivian companies have to share profits with employees?

Bolivian companies that are resident in Bolivia are required to share 25% of their net annual profits with any employees who have worked for the company for at least three months. Profit shares for employees are based on their salary level.

What types of contracts are allowed under employment law in Bolivia?

Under employment law in Bolivia, there are two main contract types that are commonly used by foreign companies and investors: indefinite contracts. Indefinite contracts are the most common typeand can only be terminated when both parties agree, or when one has the right to act unilaterally based on the terms of the contract.

What are the rights of employees in Bolivia?

The Bolivian Constitution and other labour regulations recognise the rights of employees to be organised in unions under the principles of unity, democracy, political pluralism, self-financing, solidarity and inter-nationality.

What should you expect from a business meeting in Bolivia?

• Since face-to-face interaction is so important when doing business here, while you may normally accomplish your goals with one meeting, in Bolivia you should plan on holding several meetings on an issue before coming to agreements or entering into a contract.

What is business etiquette in Bolivia?

Bolivia Business Etiquette. Bolivia Business Culture and Customs in Bolivia. The most important thing to know about business etiquette in Bolivia is that Bolivians prefer to do business with people they know and trust and will often keep their business dealings within a close-knit family and social circle.