Compliantly hire your distributed team members in
Bolivia
To hire new employees in
Bolivia
, your business must have a local legal entity or an Employer of Record like Borderless in place already. Then there’s the management of local employment compliance, taxes, benefits, payroll, and more. Hiring contractors poses similar challenges.
Borderless handles all of that for you, so you can focus on getting to work with your new team member in
Bolivia
while staying fully compliant with local laws and compliance.
Spanish, Indigenous Languages
Bolivian boliviano (Bs, BOB)
Monthly
11 days
17%
$ (111 of 140, 2023)
15 - 30 days
26 weeks
90 days
In many countries like
Bolivia
, the treatment of employees and contractors is different. If you misclassify a new team member, you could be subjected to penalties and fines. Let Borderless get this right for you, so you don’t have to worry.
The minimum wage in Bolivia is BOB 2,250 per month.
Workers are entitled to 100% extra pay for overtime hours. Standard working hours are 8 hours per day, up to 6 days per week.
In Bolivia, there are 13th and 14th month salaries. At the end of the year, a payment equal to one month's compensation is due for the 13th month of salary. A 14th month of pay is also required, but only if the nation's GDP is higher than 4.5%. Every year, this is typically announced in July, and the 14th pay is eventually paid in December.
For Borderless customers, all employee payments will be made in equal monthly installments on or before the last working day of each calendar month, payable in arrears.
If there is no valid reason, an employee may request a severance or request reinstatement. An employee may be terminated without notice if there is just cause, such as the disclosure of trade secrets, negligence, fraud, etc.
On average, the law requires a notice of 90 days to terminate an employee.
Probation periods are mandatory. The probation lasts 90 days.
If fired without just cause, employees can be reinstated or receive severance pay amounting to one month of salary for every year worked.
When the world is your competition, it pays to incentivize new hires and existing alike. Borderless benefits packages typically include:
Book your demo of Borderless to help you hire, pay, and take care of new employees and contractors in 170+ countries.
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