Why did I choose Paraguay to set up my tax residence?
At this point, you are likely to be an innovator in the business world, seeking new horizons for your growth.
Paraguay is positioning itself as an attractive destination for those interested in optimizing their tax situation, offering a favorable environment with a competitive tax regime that allows 0% taxation for income generated outside the country. This South American country is known for its simplified process for obtaining tax residency, its economic stability, and for not participating in the automatic exchange of financial information, which offers greater privacy.
At Nomad Tax, we are experts in the management of tax residences in Paraguay. We offer you our deep knowledge to optimize your tax situation, making the most of the advantages that Paraguay offers. Whether you are looking to benefit from its territorial taxation system, financial privacy, or speed in obtaining tax residency, we are here to assist you every step of the way.
How can we help you in Paraguay?
- We have a legal team located in Paraguay.
- With the right strategy you can achieve 0% taxation.
- We process your residency in Paraguay in just one day.
- We take care of all the paperwork you just pay and forget about everything.
- You will be accompanied all the way with our team.
I will tell you why I chose Paraguay to set up my tax residence
Privacy: Paraguay does not exchange your Financial information
Paraguay is not part of the CRS (Common Reporting Standard), which means that it does not automatically share financial information with other countries. This lack of participation in the CRS may offer advantages in terms of financial privacy for individuals and companies residing in the country.
The lack of automatic exchange of information makes it easier to maintain a certain level of confidentiality in tax and financial matters.
Residency: Paraguay enables the fastest tax residency in the world
Paraguay offers a quick and easy process to obtain tax residency, being attractive for those seeking a free lifestyle with a lower tax burden.
Paraguay maintains a streamlined immigration process, allowing to obtain a tax residency certificate without residing in the country. In addition, obtaining residency in Paraguay is considerably cheaper than in other destinations such as Cyprus or Panama.
Taxes: Paraguay has a territorial taxation system
Paraguay, a country in the heart of South America, stands out on the international stage for its territorial taxation system. This system means that only income generated within the country’s borders is subject to taxation. But why has Paraguay adopted this model and how can it benefit entrepreneurs?
- Paraguay seeks to attract foreign investors and entrepreneurs. By taxing only locally generated income, the country becomes an attractive destination for international businesses and digital nomads seeking to optimize their tax burden.
- By applying taxes only on income generated within the country, Paraguay simplifies its tax system. This makes it easier for companies to understand and comply, reducing administrative complexity.
- In a globalized world, countries compete to attract talent and capital. Territorial taxation positions Paraguay as a strong competitor in Latin America, offering comparative tax advantages.
How to obtain residency in Paraguay in 1 day?
Paraguay offers an attractive and flexible tax environment for those seeking to establish their tax residence in the country. There are two main ways to obtain tax residency in Paraguay: spending a minimum of 120 days a year in the country or creating economic substance. Each of these options is detailed below:
Tax Residency by time: Spending 120 days a year or more in Paraguay
The most direct way to obtain tax residency in Paraguay is through physical presence in the country. If you spend at least 120 days a year in Paraguay, you may qualify to be considered a tax resident. This method is particularly attractive for those who wish to divide their time between several countries or for digital nomads looking for a stable fiscal home.
Tax Residency by Substance: Creating Economic Activity in Paraguay
The second option to obtain tax residency in Paraguay is through the creation of economic substance in the country. This involves establishing and maintaining significant economic activities in Paraguay, which may include investments, businesses or relevant economic contributions.
Nomad Tax will assist you in the process of obtaining your tax residency in Paraguay
Temporary Residence in Paraguay
At Nomad Tax we will take care of the whole process to obtain your temporary residency along with the ID card. You will only need to spend 2 days in the country, while we handle all the bureaucracy.
Our agents in Paraguay will pick you up, accompany you to immigration and prepare all your documentation.
Economic substance in Paraguay
At Nomad Tax we will design your strategy so that you can create economic substance in Paraguay without having to make large investments.
Our agents and accountants in Paraguay will guide you through this process and create the structure you need to do everything legally and correctly so that you do not incur any problems with your country of origin.
How long will it take to obtain tax residency with Nomad Tax?
- The application for your temporary residency in Paraguay takes approximately 11-12 weeks to complete.
- Obtaining your identity card (``Cedula´´) will take approximately 3 - 4 weeks.
- The tax document of the RUC (Registro Único de Contribuyentes) will be obtained within 15 days from the receipt of your identity card.
Obtaining temporary residency with Nomad Tax includes the following:
- Proof of place of residence in Paraguay.
- Pick up at the hotel and escort to the immigration office.
- Presentation and collection of all your documentation in Paraguay.
- Identity card in Paraguay.
- Advice and resolution of doubts during the process.
Services offered by Nomad Tax in Paraguay?
Obtaining Temporary Residency in Paraguay
- The price is €2,300 per person.
Obtain RUC tax number in Paraguay.
- The price is €40/month to obtain this tax number.
Registration of a sole proprietorship in Paraguay
- €300 per sole proprietorship.
Obtaining Permanent Residency in Paraguay
- The price will be €2,300 per person.
Obtain a tax study related to Paraguay
- It is likely, and correct me if I am wrong, that you have not been advised by tax lawyers specialized in international matters and, most importantly, in your home country.
- Avoid problems and win.
- Did you know that by managing your structure properly, you can achieve savings that exceed your expectations?
- Get 50% discount on you consultancy of EUR 390 when you purchase your temporary residence package in Paraguay.
FREQUENTLY ASKED QUESTIONS
Paraguay offers attractive advantages to establish your tax residence, including the possibility to obtain 0% tax and residency in only 2 days per year. With Nomad Tax, starting your tax residency in Paraguay is a quick process that is completed in just 1 day.
- Privacy: Paraguay does not automatically exchange your tax information, as it is not part of the CRS (Common Reporting Standard), providing confidentiality in tax and financial matters.
- Fast Residency: Paraguay offers the fastest residency process in the world, allowing you to obtain it without the need to reside in the country.
- Territorial Taxation: Paraguay applies a territorial taxation system, taxing only income generated within the country, which makes it attractive for foreign investors and entrepreneurs.
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Nomad Tax offers you two options:
- Fiscal Residence for time: Spending at least 120 days a year in Paraguay.
- Tax Residency by Substance: Creating economic activity in the country.
We manage the whole process, from temporary residence to obtaining your ID card and RUC.
- The application for temporary residency is completed in approximately 11-12 weeks.
- Obtaining the cédula takes approximately 3-4 weeks.
- The RUC tax document is obtained within 15 days after receiving the cédula.
- Temporary Residence: 2.300€ per person.
- Tax Number RUC: 40€/month.
- Company Registration: 300€ per sole proprietorship.
- Permanent Residence: 2.300€ per person.
