Disclaimer: This article is not a substitute for legal nor accounting advice. Look for professional advice before you take action.
Do you live in Bolivia and are looking to switch gears in your career path or the way you currently work? Would you like more time to explore the country of Bolivia while still bringing your best self to work? Are you looking to become a digital nomad to work from anywhere you choose?
If you answered yes to any of these questions, this article is for you! Here we will discuss the steps you need to take to find remote software development jobs from Bolivia.
Finding Your Dream Job
After you have chosen to switch careers or work lifestyles, the question is: How do I get started? Where can I begin my job search? Luckily for you, at Nexton, we’re here to help!
Our mission is to aid those living in LATAM to achieve their dreams of working for US companies hiring developers from abroad. These companies offer completely remote work, higher salaries, and an array of new possibilities.
There are many overseas contractor jobs for senior software developers and those who have experience working in tech.
What About Work Visas?
The first order of business is to understand what documents you need to work remotely. In the case of working from home, there is no need for a work visa for remote jobs from the US. That's good news for you as it makes the processes less difficult.
Tax Contributions in Bolivia
All independent contractor jobs are subject to contribute to the Bolivia tax system based on earned income. Therefore, it's essential to keep invoices filed for tax purposes. You will be subject to pay 13% of your gross income for the calendar year. You will also need to enroll in the Tax Registry to receive your tax identification number to make the contributions.
Once you have registered, all of those employed are subject to pay VAT (Added Value Tax), which will be reimbursed if you make more than BOB 9,000. This reimbursement is up to 5% of items purchased. These purchases must be listed on your invoices.
However, both non-residents and residents alike are not subject to pay taxes on foreign-sourced income. For example, if you work from Bolivia for a US company established in the US, you will not need to pay taxes on that income through the Bolivian tax system. Note that there is no tax-free threshold.
Show Me the Money
It's Friday night, and you just got paid, but how do you receive the money? That's a good question seeing as overseas payroll has a different setup than domestic means in terms of payment options.
- Digital wallets are becoming a common form of money transfer throughout the world. With the platform Xoom, you can receive your money digitally; then, you have the choice of using it via your local bank account or by cash pick up.
- Remitly is a digital transfer service that allows you to receive money for low fees. Unlike other digital transfer platforms, this differs because the sender chooses where they will send the money.
Remitly offers a variety of options such as transfer by bank deposit or debit card. However, you will have to communicate to the sender which method you would like to receive your money through as you don't have the option on your end.
- Bank transfers to your local bank account are also an option. Unfortunately, this option is not the best in terms of cost savings. There are typically high fees involved, and you may be limited in choosing which banks you can send and receive money to.
The alternatives we mentioned prior have the option to make deposits to your local bank account in Bolivia. Most have little to no fee included. In this case, many remote workers choose business online payroll for transfers.
So, even if you cannot make a direct deposit in your local bank account, you can still deposit money using a digital transfer platform.
Ready to Embark on a New Journey?
There is an abundance of US companies that offer remote jobs, hiring in LATAM. Nexton is dedicated to providing you with information and aiding you in successfully reaching for that senior software development job you’ve been dreaming about.
We achieve this by getting to know you and understanding your strengths and career aspirations as a senior software developer. This insight gives us the ability to partner you with independent contractor jobs that are best suited for your skills.
Even if you live in Ecuador, Uruguay, Chile, or any other Latin American country, we can provide guidance and assistance in preparing you for interviews with the most sought-after software development companies in the US. If you are looking to make an advance in your tech career and gain the freedom to work remotely, contact us at Nexton so we can make your dreams a reality!