We are a married American couple interested in possibly retiring to Bolivia. Is it possible to own property (Free and clear) in Bolivia? Is income (such as Social security or pension) taxed in Bolivia? Thank you.
Comments for
Can Americans own property in Bolivia?
I have lived in Bolivia for 13 years. For 11 of those years I worked but when I decided to retire I chose Cochabamba. One of your questions was do you pay Bolivian taxes on US earned income. No there are no Bolivian taxes but you pay taxes to the country in which your income comes from. I have owned property here for about 9 years.
Jun 20, 2010
buying property in bolivia by: BoliviaBella
Yes, Americans (foreigners in general) can purchase property in Bolivia. It's advisable, if and when you find a property you are interested in, to hire a lawyer to review all the owner's documentation and visit Derechos Reales (the government land titling office) to ensure there are no liens on the property, no taxes owed, and no one else claiming to own it.
Bolivia's land ownership system has serious problems and there is a lot of double-titling and corruption, people settling on land that doesn't belong to them, people selling land that doesn't actually belong to them, etc. So if you do find a property, you definitely need someone to check it all out for you and ensure it's completely clear before you purchase. But other than that, yes foreigners can purchase land and houses here.
To get residency in Bolivia you have to be able to show how you will sustain yourself, either from foreign income sources or by generating income here. If you live here on a US retirement fund I believe you'll be paying taxes in the US on that income. I'm unsure if the Bolivian government would tax your US retirement income as well. I think not, but I'll have to check into that for you.
