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Paraguay

Paraguay is one of the Latin American countries located in the center of South America. The country’s capital is Asuncion, with a population of 7,133,000. Paraguay is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. The currency of this country is Guarani and the language of the majority of the people of this country is Guarani and Spanish. Paraguay has a varied climate but generally has a temperate and tropical climate. The country has the largest hydroelectric power plant in the world, which provides all of Paraguay’s electricity needs. The main economic activity of this country revolves around agriculture and animal husbandry and the majority of the population working in this country work in this field.

Paraguay offers different ways for foreigners to invest:
One of the easiest ways is to open an account in a bank in Paraguay, and applicants can obtain a temporary residence permit in Paraguay by making a bank deposit of about $ 5,000. This amount is non-withdrawn and will remain in the bank as a guarantee, but the interest is withdrawn.
Applicants for immigration to Paraguay through investment can apply for a residence permit in Paraguay by registering a company in Paraguay with a minimum capital of US $ 27,000 in addition to business.

General Questions 

How long does it take to register a company in Paraguay?
3 months

Is it mandatory to have an internal shareholder?
No. It is possible to register a company with 100% foreign ownership.

What is the minimum company registration capital?
At least $ 1

Do I have to have a shareholder or director in Paraguay to register a company?
No. The shareholders or the director of the company can appoint a representative to register the company.

How much does it cost to register a company in Paraguay?
About $ 13,000

What are the disadvantages of immigrating to Paraguay?
Very low purchasing power, high traffic and pollution in big cities

If a child is born in Paraguay, can he / she become a citizen of this country?
Citizenship through the birth of a child in Paraguay is governed by the law of the land. Thus, any baby born in Paraguay can acquire the citizenship of this country according to the law.

What is the advantage of having a Paraguayan passport for people to travel?
You can travel to 143 countries without a visa.

The benefits of company registration in Paraguay

• Company registration can be done with two shareholders and a director of each nationality.
• Paraguay’s GDP is 3.7%, indicating that the economy is growing.
• The Paraguayan government has the same support for all domestic and foreign investors.
• Government incentives such as tax cuts to 10% and many incentives to operate in free zones.
• Exemption on VAT.
• Incentives for free zones such as freedom in the export and import of all goods, freedom in pricing.
• There is no need for government permission to increase capital in free zones.
• You will be exempt from all financial transfer taxes.
• Foreign companies will be exempt from domestic duties, customs duties for the import of capital and goods.
• Excellent investment opportunities in agriculture such as greenhouses and orange plantation.
• Having a specialized and cheap labor force in the agricultural sector

The disadvantage of company registration in Paraguay

• Shareholders or directors must have temporarily or permanently visa of Paraguay.
• Registering a company and getting licenses is costly and time consuming.
• All company documents must be translated into Spanish and people will speak Spanish and Guarani and investors will have difficulty communicating in English.
• The government does not allow private companies to invest in the electricity and oil industries.
• Paraguay ranks 125 out of 189 in the World Bank, which indicates that it does not have a good ranking.
• Financial transfer abroad must be accompanied by a contract and
• payment of taxes and duties on value added goods.
• Limited liability companies are not allowed to invest in insurance and banking activities.
• Bureaucracy  and bribe in Paraguay is a common trend.
• Paraguay ranks 132 out of 180 corruption cases in the world.

Type of company registration 

• Sociedad Anónima (S.A)
• Sociedad de Responsabilidad Limitada (SRL)
• Free Trade Zone Company
• Foreign Branches

The company registration process 

• Submit a company registration application in Paragon
• Specify a unique name and obtain confirmation of the company name
• Complete company registration forms
• Preparation and adjustment of the company’s articles of association with the required details such as approved name, type of company, goals of the company, names of shareholders and the amount of their shares, names of directors, company address
• Registration of company documents in the notary public
• Forming a company file in the Ministry of Finance and obtaining a tax number
• Preparation of company seal
• Opening a bank account and depositing the company’s capital into it.
• Publication of a summary of the Articles of Association in the official newspaper and a local newspaper