The Republic of Paraguay is a land-locked South American country and member of Mercosur and Unasur. It borders Argentina to the southeast, south and southwest, with Bolivia to the north and Brazil to the east. It is the fifth smallest country and the least populated in South America, with about 7 million inhabitants. Its territory comprises two different regions separated by the river Paraguay, the western, which is the most populated, and the eastern, which forms part of the Chaco. Although it is a landlocked state, it has ports on the Paraguay and Parana rivers that give it an outlet to the Atlantic Ocean through the Parana – Paraguay waterway. Its capital, political and economic center is Asuncion. Its official languages are Spanish and Guarani. Its official currency is the Paraguayan Guarani (PYG).
With over eight million hectares of available fertile land and abundant fresh water from one of the largest aquifers on the planet, the Guaraní. Paraguay is one of the world’s top exporters of soybeans, soybean oil, chia and soy flour, yucca flour, corn, beef, wheat and the first exporter of stevia and organic sugar. In addition to exporting cotton, feed and leather products. They are also commercially exploited the quebracho, hardwoods, cedars and orange groves, which provide petitgrain, used in perfumes and condiments.
It is the largest American exporter of electrical energy. Its hydroelectric power plants (Acaray, Yguazú, Corpus Christi, Itaipú and Yacyretá) cover 100% of the country’s electric needs, in addition to exporting more than 90% of the energy generated mainly to Brazil.
Its mining is rising. In recent years, they have been found large deposits of titanium, uranium and gold. There are indications that on the country’s east there are the largest deposits of titanium in the world. The country’s mineral exploitation is in the initiation phase, so there may be excellent possibilities in iron, diamonds, gas and oil.
The country also has a favorable tax regime, where foreign-source income may not be taxed and local-source income is subject to a 10% tax rate. In addition to several free trade areas and tax incentives and exemptions for entrepreneurship in certain economic sectors. Its immigration policy is considerably liberal, where instant permanent residency can be achieved with low requirements, and citizenship may be granted after 3 years.
At Flag Theory, we help you to find strategic locations globally to increase freedom, privacy and wealth. Below, you can read on why and how to get residency and citizenship in Paraguay, why and how to do business, set up a company, investment opportunities and banking options in this Latin American country.