Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the ASFI licence, including banking and payment rails.
Get a payment license in Bolivia.
Bolivia licenses mobile payments as a complementary financial service. Article 123(I)(i) of Ley N° 393 puts servicios de pago móvil on the list, and the Autoridad de Supervisión del Sistema Financiero grants the operating licence to an Empresa de Servicios de Pago Móvil. User funds are backed by a guarantee instrumented through a trust, and Article 84(V) of the same law gives positive administrative silence once the decision period fixed by Supreme Decree runs out. One company holds the licence today. The rulebook that carries the capital figure and the wallet limits sits on a host that did not respond, so we obtain those from the regulator and confirm them to you in writing before any work begins.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Bolivia in brief
A complementary financial service, a trust behind the float, and four figures we will not guess.
Article 123(I) of Ley N° 393 de Servicios Financieros of 21 August 2013 lists the complementary financial services, and at inciso i it names servicios de pago móvil. The Autoridad de Supervisión del Sistema Financiero grants the licencia de funcionamiento to an Empresa de Servicios de Pago Móvil, one of the classes of empresa de servicios financieros complementarios, and supervises it as a financial entity afterwards. The operating rules sit in the regulator's Recopilación de Normas para Servicios Financieros, Libro 2°, Título III: Sección 1 defines the terms, Sección 2 covers incorporation and the operating licence, and Sección 5 is the fideicomiso, under which user funds are backed by a guarantee instrumented through a trust that the regulator can enforce on the grounds that section sets out. Ley 393 also gives an applicant one protection worth knowing about. Article 84(V) says the regulator must decide within a maximum period fixed by Supreme Decree, and that once the period passes, positive administrative silence applies. A file that sits does not fail by default.
The market is one company deep. The regulator's assessment of the financial system at 31 December 2025 records E-FECTIVO S.A., which runs Tigo Money, as the only entity of its type holding a licence, alongside three banks issuing mobile wallets under the separate power in Article 119(I)(z). Instant payments run on the central bank's QR scheme, regulated at the end of 2022 and implemented through 2023. Two resolutions of 2025 moved the rules: ASFI/953/2025 of 6 October rewrote the tariff article and added an obligation, and ASFI/1289/2025 of 18 December let an ESPM provide financial correspondent services to other supervised entities. Now the part to hear before anything else. The host serving the regulator's rulebook did not respond on any route we tried, so four things are not in our hands: the minimum capital, the wallet balance and transaction limits, the percentage of user funds the trust guarantee must cover, and the licensing timetable behind Article 84(V). We obtain those from the regulator and confirm them to you in writing before any work begins, and we do not print numbers we have not read. Tax is IUE at 25%, with a 25% additional rate for financial entities whose profitability coefficient passes 6%, IVA at 13% and IT at 3%. We run the file from Madeira, in Spanish.
Article 123(I)(i) of Ley 393 lists mobile payment services among the complementary financial services, and ASFI licenses the Empresa de Servicios de Pago Móvil. User funds are backed by a guarantee instrumented through a trust. Article 84(V) gives positive administrative silence once the decree period passes.
One licensed operator at 31 December 2025, E-FECTIVO S.A., plus three banks issuing wallets; 2.7 million wallets in all; interoperable QR from the central bank. The rulebook host was unreachable, so capital, wallet limits, the guarantee percentage and the clock come from ASFI in writing.
The routes
Your own licence, or mobile payments through a supervised entity.
Two ways into Bolivian mobile payments: the ESPM licence in your own name, and the channelling power a licensed financial entity already holds. We fix the route first, then build once.
The ESPM licence in your own name, or mobile payments through a supervised entity.
01 - MOBILE PAYMENT COMPANY
Empresa de Servicios de Pago Móvil
The operating licence granted by the Autoridad de Supervisión del Sistema Financiero for the complementary financial service listed at Article 123(I)(i) of Ley 393, with incorporation and licensing under Sección 2 of the mobile-payment regulation and the trust of Sección 5 behind user funds.
The operating licence granted by the Autoridad de Supervisión del Sistema Financiero for the complementary financial service listed at Article 123(I)(i) of Ley 393, with incorporation and licensing under Sección 2 of the mobile-payment regulation and the trust of Sección 5 behind user funds.
- ✓Licencia de funcionamiento from ASFI; supervised as a financial entity
- ✓User funds backed by a guarantee instrumented through a trust (Sección 5)
- ✓Positive administrative silence after the decree period (Article 84(V))
- ✓Tariff schedule filed with ASFI under Article 12 of the regulation
- ✓Voluntary liquidation needs the regulator's authorisation
- ✓Capital, wallet limits and the guarantee percentage confirmed with ASFI in writing
02 - THROUGH A SUPERVISED ENTITY
Partner routeCanalización a través de dispositivos móviles
Article 119(I)(z) of Ley 393 lets a licensed financial entity channel the products and services the law authorises through mobile devices. Three banks issue wallets on that basis today, and since December 2025 an ESPM may also serve other supervised entities as a financial correspondent.
Article 119(I)(z) lets a licensed financial entity channel authorised services through mobile devices; three banks issue wallets, and since December 2025 an ESPM may act as their correspondent.
- ✓Article 119(I)(z): authorised products and services channelled through mobile devices
- ✓Three banks issue mobile wallets - Banco Nacional de Bolivia, Banco de Crédito de Bolivia, Banco Ganadero
- ✓Mobile wallets grew from 1.8 million in 2022 to 2.7 million
- ✓Correspondent contracts under Article 5, as rewritten on 18 December 2025
- ✓A new payment service or electronic payment instrument needs the central bank's no objection
- ✓Interoperable QR payments regulated at the end of 2022 and implemented through 2023
Costs and timelines are confirmed for your case before any work begins. The regulator's rulebook host was unreachable on 4 September 2026, so the capital, the wallet limits, the guarantee percentage and the decision period come from ASFI in writing before we start, and are itemised in your quote.
Why Bolivia
One licensed operator, 2.7 million wallets, and silence that works for you.
Bolivia supervises mobile payments inside its financial-services law rather than beside it. The market has one licensed operator, wallet numbers are rising, and the statute turns regulatory delay into approval.
✓
Positive administrative silence
Article 84(V) of Ley 393: the regulator must decide within a maximum period fixed by Supreme Decree, and once that period passes, silence counts as approval.Article 84(V) turns delay into approval.
✓
One licensed operator
The regulator's December 2025 assessment records E-FECTIVO S.A., which runs Tigo Money, as the only entity of its type holding a licence.E-FECTIVO S.A. at December 2025.
✓
Wallets at 2.7 million
The central bank's payment-system report puts mobile wallets at 2.7 million, up from 1.8 million in 2022, across the licensed operator and three banks.Up from 1.8 million in 2022.
✓
A correspondent role since December 2025
Resolución ASFI/1289/2025 rewrote Article 5 as Contratos de corresponsalía and let an ESPM provide financial correspondent services to other supervised entities.Added 18 December 2025.
✓
Interoperable QR from the central bank
Pagos Inmediatos con QR was regulated at the end of 2022 and implemented through 2023, so the national rail is built rather than promised.Central-bank rail since 2023.
✓
Licensed, not registered
An ESPM holds a licencia de funcionamiento inside the financial-services law and is supervised as a financial entity, which is the status banks and partners ask for.Supervised as a financial entity.
How it compares
How Bolivia differs from its neighbours.
Bolivia supervises mobile payments as a financial service and backs the float through a trust. Its neighbours print their capital figures; Bolivia's sits in a rulebook we obtain from the regulator. The honest comparison is below.
Bolivia vs other jurisdictions
| Feature |  Bolivia | Other jurisdictions |
|---|---|---|
| Licence | ESPM · complementary financial service | Standalone e-money licences |
| Client funds | Guarantee instrumented through a trust | Trust in Peru · liquidity reserve in Chile |
| Decision | Positive silence after the decree period | Fixed clocks or none at all |
| Corporate tax | IUE 25% plus a 25% financial surcharge | 10% to 35% across the region |
Licence
BoliviaESPM · complementary financial service
Other jurisdictionsStandalone e-money licences
Client funds
BoliviaGuarantee instrumented through a trust
Other jurisdictionsTrust in Peru · liquidity reserve in Chile
Decision
BoliviaPositive silence after the decree period
Other jurisdictionsFixed clocks or none at all
Corporate tax
BoliviaIUE 25% plus a 25% financial surcharge
Other jurisdictions10% to 35% across the region
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Bolivia | ESPM (ASFI) | IUE 25% · IVA 13% | Trust-backed guarantee · figures from ASFI |
 Peru | EEDE (SBS) | 29.5% | S/ 2.89M · 100% in trust |
 Paraguay | EMPE (BCP) | 10% · IVA 10% | No capital printed · 100% guaranteed |
 Chile | Prepaid card issuer (CMF) | 27% | ≥ 25,000 UF · liquidity reserve |
BoliviaLicense typeESPM (ASFI)
TaxationIUE 25% · IVA 13%
RequirementsTrust-backed guarantee · figures from ASFI
PeruLicense typeEEDE (SBS)
Taxation29.5%
RequirementsS/ 2.89M · 100% in trust
ParaguayLicense typeEMPE (BCP)
Taxation10% · IVA 10%
RequirementsNo capital printed · 100% guaranteed
ChileLicense typePrepaid card issuer (CMF)
Taxation27%
Requirements≥ 25,000 UF · liquidity reserve
Before you apply
Requirements for the ASFI licence.Requirements for the licence.
Ley 393 sets the category, the supervision and the silence rule. The operating detail sits in the regulator's rulebook, and the four figures we could not read there are listed as such. The checklist below is what a passing file contains.
01
A licencia de funcionamiento from the Autoridad de Supervisión del Sistema Financiero for the complementary financial service listed at Article 123(I)(i) of Ley 393.
02
Incorporation and licensing under Sección 2 of the mobile-payment regulation in the Recopilación de Normas para Servicios Financieros, Libro 2°, Título III, starting with the solicitud inicial.
03
Founding shareholders clear of the public-servant disqualification of Article 153(h), with the 2015 carve-out for university teachers, school teachers, medical and paramedical staff and people in cultural or artistic work.
04
A trust arrangement behind user funds, with the guarantee instrumented through it and the grounds for enforcement as Sección 5 sets them.
05
A tariff schedule filed with the regulator under Article 12 of the regulation, as rewritten by Resolución ASFI/953/2025 of 6 October 2025.
06
The obligations of Article 16, including the inciso added in October 2025, written into the operating manuals.
07
The central bank's no objection for each new payment service or electronic payment instrument the company intends to offer.
08
Where the company will serve other supervised entities, the correspondent contracts of Article 5 as rewritten on 18 December 2025.
09
The minimum capital and the percentage of user funds the trust guarantee must cover, both held in the regulator's rulebook and both obtained from ASFI and confirmed in writing before the company is formed and the trust is drafted.
10
The wallet balance and transaction limits and the decision period fixed by Supreme Decree under Article 84(V), confirmed with the regulator before the product is designed and the timetable agreed.
01
ASFI operating licence (Article 123(I)(i)).
02
Sección 2 file, starting with the solicitud inicial.
03
Shareholders clear of Article 153(h).
04
Trust behind user funds (Sección 5).
05
Tariff schedule filed under Article 12.
06
Article 16 obligations in the manuals.
07
Central-bank no objection per service.
08
Correspondent contracts where used.
09
Capital and guarantee percentage from ASFI.
10
Wallet limits and clock from ASFI.
Reflects Ley N° 393 de Servicios Financieros (2013), Resoluciones ASFI/696/2015, ASFI/815/2018, ASFI/953/2025 and ASFI/1289/2025, and the central bank's payment-system rules, as of 2026. The host serving the Recopilación de Normas para Servicios Financieros did not respond on 4 September 2026; its figures are obtained from ASFI in writing.Ley N° 393 (2013); Resoluciones ASFI/696/2015, ASFI/815/2018, ASFI/953/2025, ASFI/1289/2025. RNSF host unreachable on 4 September 2026.
How it works
From first call to the ASFI licence.
01
Figures and route
Capital, wallet limits, guarantee percentage and decision period obtained from ASFI in writing; ESPM licence or the partner route chosen on that basis.ASFI answers in writing first.
02
Company and shareholders
Bolivian company formed, shareholder eligibility settled against Article 153(h) and the 2015 carve-out, capital paid to the confirmed figure.Formed; capital to the figure.
03
The application file
The solicitud inicial and the rest of the Sección 2 file, the trust documentation, tariff schedule and operating manuals for Article 16.Sección 2 file and the trust.
04
ASFI review
Question rounds answered. The decision period is fixed by Supreme Decree, and Article 84(V) turns its expiry into positive silence. Plan on six to nine months.Positive silence after the period.
05
Trust and launch
Trust funded to the confirmed percentage, the central bank's no objection obtained for the service and the instrument, QR connectivity live.Funded; no objection; QR live.
Quick facts
RegulatorASFI · Banco Central de Bolivia
LawLey 393 (2013) · RNSF Libro 2, Título III
LicenceESPM operating licence
CapitalConfirmed with ASFI in writing
Client fundsGuarantee through a fideicomiso
DecisionPositive silence after the decree period
Timeline6-9 months realistic
Corporate taxIUE 25% · IVA 13%
The regulator's rulebook host was unreachable on 4 September 2026. We do not print a capital figure, a wallet limit, a custody percentage or a licensing clock we have not read; we obtain each from ASFI and confirm it to you in writing before any work begins.
Your Bolivia desk
Run from our Americas desk.
Prifinance - Americas desk
Madeira · coordinating Bolivian mandates in Spanish
Rua da Alegria 31, 1F, Madeira
01
The figures first
Before a company is formed we put the capital, the wallet limits, the guarantee percentage and the decision period to ASFI and hand you the answers in writing. Nothing is budgeted on a number we have not read.Written answers from ASFI before we start.
02
Bolivian company formation
The corporate form and shareholder eligibility settled against Article 153(h) and the 2015 carve-out, with the solicitud inicial of Sección 2 prepared alongside.Shareholder eligibility; solicitud inicial.
03
The trust
The fideicomiso behind user funds drafted with the trustee, the enforcement grounds of Sección 5 reflected, and the funding schedule set to the percentage ASFI confirms.Drafted with the trustee; funded to spec.
04
The central bank leg
The no objection for each new payment service or electronic payment instrument, and the connection to interoperable QR planned with the licence rather than after it.No objection; QR connectivity.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Bolivia.
IUE at 25% with a second 25% charge on financial entities that earn above a 6% profitability coefficient, IVA at 13%, a 3% transactions tax and a 0.30% tax on financial movements - read off the tax authority's own schedule.
IUE 25%
The corporate rate on net taxable profit, under Ley 843 Título III and its implementing decrees.On net taxable profit.
Financial-entity surcharge 25%
Article 51 ter of Ley 843 adds a further 25% of net taxable profit for financial intermediaries whose profitability coefficient exceeds 6%. Whether a licensee falls inside it is confirmed for your structure.Above a 6% coefficient.
IVA 13%
Thirteen per cent on the net sale price. The product mix is mapped against the schedule before you price it.On the net sale price.
IT 3%
The transactions tax runs at 3% on gross accrued income - a turnover charge that shapes the fee model rather than the profit line.On gross accrued income.
Remittances abroad 12.5%
Payments of Bolivian-source income to beneficiaries abroad carry an effective 12.5% charge, with lower effective rates for partly Bolivian activities.Effective, on outbound income.
ITF 0.30%
The tax on financial transactions runs at 0.30%. For a payments business that moves money through bank accounts, it belongs in the unit economics from day one.On financial movements.
Tax summary
Corporate tax (IUE)25%
Financial-entity surcharge25% above a 6% coefficient
VAT (IVA)13%
Transactions tax (IT)3% on gross income
Remittances abroad12.5% effective
Financial transactions (ITF)0.30%
*Figures as of 2026 per the Servicio de Impuestos Nacionales. Treaty and regime positions are assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Bolivian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed company.
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The Bolivian payment licence, answered.
What licence does a mobile payment business need in Bolivia?+
An operating licence from the Autoridad de Supervisión del Sistema Financiero as an Empresa de Servicios de Pago Móvil. Article 123(I)(i) of Ley N° 393 lists servicios de pago móvil among the complementary financial services, so the company is supervised as a financial entity.
How much capital is required?+
The figure sits in the regulator's Recopilación de Normas para Servicios Financieros, and the host serving that rulebook did not respond on any route we tried on 4 September 2026. We will not print a number we have not read. We obtain it from ASFI and confirm it to you in writing before the company is formed.
How are user funds protected?+
Through a guarantee instrumented by way of a trust. Sección 5 of the mobile-payment regulation governs the fideicomiso and the grounds on which the regulator may enforce the guarantee, and a 2018 resolution renamed the related article in Sección 2 as Ejecución de la garantía. The percentage the guarantee must cover is confirmed with ASFI before the trust is drafted.
What are the wallet limits?+
They sit in the same unreachable rulebook. We do not guess them. They are obtained from the regulator and confirmed in writing before the product is designed, because a balance cap changes the customer segment a wallet can serve.
How long does the regulator take?+
Article 84(V) of Ley 393 says the regulator must decide within a maximum period established by Supreme Decree, and that once the period passes, positive administrative silence applies. The length of that period is confirmed with ASFI before we agree a timetable. Plan on six to nine months end to end.
How many companies hold the licence?+
One. The regulator's assessment of the financial system at 31 December 2025 records E-FECTIVO S.A., which operates Tigo Money, as the only entity of its type with a licence. Three banks issue mobile wallets under a separate power in Article 119(I)(z).
Is there an instant payment rail?+
Yes. The Banco Central de Bolivia regulated immediate QR payments at the end of 2022 and the scheme was implemented through 2023. A new payment service or electronic payment instrument also needs the central bank's no objection before it goes live.
What changed in 2025?+
Two resolutions. ASFI/953/2025 of 6 October rewrote the tariff article of the mobile-payment regulation, added an obligation to Article 16 and adjusted a definition. ASFI/1289/2025 of 18 December rewrote Article 5 as correspondent contracts and let an ESPM provide financial correspondent services to other supervised entities.
How are payment companies taxed?+
IUE at 25% on net taxable profit, with a further 25% for financial intermediaries whose profitability coefficient exceeds 6% under Article 51 ter of Ley 843. IVA is 13%, the transactions tax 3% on gross income, the financial transactions tax 0.30%, and remittances of Bolivian-source income abroad carry an effective 12.5%.
Why Bolivia rather than Peru or Paraguay?+
Bolivia has one licensed operator and 2.7 million wallets, so the space is real and the supervisor is close to each file. Peru prints its capital figure at S/ 2.89 million and puts 100% of the float in trust, which makes it faster to scope. Paraguay taxes at 10% and prints no capital either. Groups already serving Bolivian customers licence here; groups choosing purely on speed of scoping usually do not.
Which licence?+
ASFI operating licence as an ESPM.
Capital?+
In the rulebook; obtained from ASFI in writing.
User funds?+
Guarantee instrumented through a trust.
Wallet limits?+
Confirmed with ASFI; we do not guess.
How long?+
Positive silence after the decree period.
How many licensees?+
One, plus three banks issuing wallets.
Instant rail?+
Central-bank QR since 2023.
2025 changes?+
Tariffs in October; correspondents in December.
Taxes?+
IUE 25%, IVA 13%, IT 3%, ITF 0.30%.
vs Peru / Paraguay?+
Space in the market; slower to scope.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Autoridad de Supervisión del Sistema Financiero or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.