National government creates the SEPREC and determines the transition from the Register of Commerce

September 8, 2021

In the framework of the Law N° 1398 dated 01 October 2021, this 06 October of the current year, they issued the Supreme Decree N° 4596, which has for its object the creation of the Service Plurinational Register of Commerce (or its acronym SEPREC), and the establishment of the transitional period of FUNDEMPRESA, the current licensee of the commercial Register.

Within the rules prenombrada will have the following important aspects:

  1. The creation of the SEPREC as a public institution, decentralized, self-management, and under the tuition of the Ministry of Productive Development and Plural Economy, with competition for the realization of all the acts of the commercial Register.
  2. The institution will have its headquarters in the city of Peace, being able to establish departmental offices and regional, within the territory of the Plurinational State of Bolivia.
  3. The management and legal representation of the SEPREC will be in charge of a Chief Executive officer, who shall be appointed by Supreme Resolution. Which to carry out the duties of the Highest Executive Authority (MAE) of the entity.

4. The SEPREC shall have the following powers:

Finally, in terms of the transitional period, the Supreme Decree establishes that the SEPREC start its activities from 01 April 2022. Until that date, the Concessionaire of the Service of Registration of Trade “FUDEMPRESA” will continue to operate normally.

  • Manage and perform the duties of a Register of Commerce;
  • To register, grant and annually renew the Registration of Trade to the natural and legal persons, both private and public that are devoted to the commercial activity in the framework of the regulations in force;
  • Enroll for the acts, contracts, and business documents, according to the forecasts of the commercial Code and other regulations in force;
  • Develop, formulate and maintain up-to-date guides on the description of the services, the requirements for access to the services and the general procedures concerning the Registration of Trade;
  • Approve the constitution, modification, liquidation, dissolution, transformation and merger of corporations, pursuant to what is established by the Code of Commerce;
  • Authorize the registration of the corporation legally constituted;
  • Certify on the acts and documents registered in the Register of Commerce;
  • To promote the activities of the Registry of Commerce of Bolivia, encouraging the formalization of the companies and business development, providing access to information, and creating training programs;
  • All those described and applicable in the Code of Commerce;
  • Coordinate the implementation of a single system of registration and certification for the integration of Economic Units, in the framework of the plural economy;
  • Generate exchange of information allows us to develop analysis and studies related to the industry and trade, which support the decision-making state agencies competent in the subject and the actors económicosen general;
  • Coordinate with Ministries and public and private entities, the application of the Law N° 779, 21 January 2016, of Desburocratización for the Creation and Functioning of Economic Units, generating strategies desburocratización promoting a unique code to identify the Economic Units;
  • Establish mechanisms for the implementation of the Law N° 947, 11 may 2017, of the micro and small enterprises, in the framework of the provisions of paragraph (j) of this Paragraph;
  • Provide training and technical assistance to promote the development of businesses;
  • Design, develop and implement a geographic information system of companies registered and up to date.