We are back again with another article on our first webinar. But this time, the real actors are you, because here there are only your questions (and of course our Mananging Director’s answer). Therefore: everything you always wanted to know and you dared to ask us!
What is the procedure for opening a bank account?
Anyone can open a bank account only if he/she has its permanent residence and his/her Paraguayan Identitiy Card. You can obtain your Paraguayan Identity Card by submitting some certificates made in Italy. All certificates need to be legalized, that is apostilled and they are: Birth Certificate, Civil Status Certificate (free, married, divorced…) and Criminal Record. As regards the last certificate there must be no judgements become final in the criminal record of the applicant.
With all these apostilled certifies you can fly to Paraguay with our consultants and apply for your residence. We guarantee very quickly all other documents that we will prepare in Paraguay. After four or five days our clients can return to Italy and after about 3 months their permanent residence shall be approved. At this point, our clients can apply for their Identity Card and with a valid Paraguayan Identity Card they can vote in the political elections and travel across South America with no need of passport.
If anyone decides do live in Paraguay for more than 180 days a year he/she no longer pays his taxes in Italy, because he has his fiscal residence in Paraguay.
This is what we do with many European clients. Italian clients are not many now, because they usually come after Easter.
How much are taxes on property?
Tax rate is 10% and for the first five year you are exempted from paying it.
How is the situation for jobseekers?
Is Paraguay considered a Tax Haven? Is there the burden of reversal of evidence of residence for physical persons?
No, it is not Panama, it is Paraguay.
If you request your permanent residence, do you have to go out and then return to Paraguay?
There is no problem. You can go out or stay in Paraguay, as you prefer.
I would like to briefly explain the procedure. Usually, our clients contact us after having signed the contract (a contract which absolutely respects European rules on privacy, Commercial Code and all other European regulations). We repeat it: we are an Estonian company and were certified as a safe company by Estonia, that is an EU State and it applies the strictest controls before opening a legal consultancy. It checks the partners, the Management Board, the internal procedures etc…
We ask our clients to send us the scanned documents they prepared in Italy (Birth Certificate, Civil Status Certificate and Criminal Record). Our lawyers check them and when they give their OK the client is ready to take his first trip to Paraguay to apply for his permanent residence. The client will fly to Paraguay with our consultant and stay there for five working days and together they will go to the various offices. We will submit all other needed documents, in addition to those already prepared by the client and after about 3 months his residence is ready.
At this point, the client comes back to pick up his residence and with it he can apply for Identity Card. In the third journey the client can pick up his Identity Card or he can delegate us. Our procedure is very quickly.
I would like to have some information about tourism in Paraguay.
Tourism in Paraguay is rapidly expanding. Recently, in Spain there was the Tourism Fair and in Italy came the Minister of Paraguay. This year she wants to do a lot of publicity in Europe. Tourism in Paraguay is very appreciated, because there are very beautiful places to visit. Of course tourism in Paraguay is not as developed as in Brazil or Argentine, but it is making great strides.
Paraguay attracts tourists for its security, for its very good climate and for the many activities it offers to tourists.
Are Italian qualifications recognized in Paraguay?
Yes, they are. It is only necessary a simple validation on the ground. Paraguay does not demands you to be Paraguayan citizens to exercise your medical or legal profession.
You only need a simple validation at the Ministry of Education.
If you obtain permanent residence in Paraguay, do you lose the Italian one?
We have to clarify: you have your residence where you live for more than 180 days a year. You can obtain your permanent residence in Paraguay, keep it in your pocket and decide not to live in Paraguay. To keep residence, Paraguay requires you to spend a night in the country every three years. If you live for more than 180 days a year in Italy, you are fully-fledged resident in Italy and pay your taxes in Italy. On the contrary, if you live for more than 180 days a year in Paraguay, you are fully-fledged resident in Paraguay and pay your taxes in Paraguay.
These are the international regulations. If you live outside Italy for more than 180 days a year, you have to communicate it to us, you sign up for Aire and become resident in Paraguay.
What are the opportunities in the foodservice industry?
There are several opportunities. One of the best opportunities is to open a bakery. In Paraguay there are few bakeries and they make a huge success. Recently, I looked at the profits of a bakery opened by some Italians in Asunción: it become the first bakery of the country.
If you had 200 000 Euros available, in which area would you invest them?
In real estate, in commercial activities and in technological startups located in Paraguay.
What are the best areas to live in?
Asunción, the capital is a very good area. Personally, I prefer Encarnación, the third city of the country after Ciudad del Este. Encarnación shares a border with the argentine city of Posada, where the Paraná river flows. Ciudad del Este is a very commercial city, it is bordered by Brazil and Argentine and has a Honorary Consulate.
How long and which document do you need to start a company?
You need 60 days to start your company.
I would like to have info about school system and University.
For these questions write to us and we will give you all the information you need. One interesting detail: many people come from Brazil, Argentine and Europe to attend M.B.A in Paraguay, where they are very well quoted. Of course, Paraguayan MBA are not known like the Business School of London, the Bocconi of Milan etc, but they are very well recognized in America/US.
Is the taxation at 0%, even if you have investments in Italy or Europe?
Absolutely yes. Just to be clear: if you intend to move to another country, nothing forbids you. You move there, you obtain your residence in Paraguay, you obtain your Paraguayan Identity Card, you live in Paraguay for more than 180 days a year and you DO NOT PAY taxes (Irpef).
Of course, if you have real estate holdings in Italy, you have to pay the local taxes (IMU, TASI etc…).
How is the procedure with Living In Paraguay? And what are its costs?
Living in Paraguay is the only European legalized company to obtain permanent residence in all countries of South America, especially in Paraguay.
Our costs are the consultancy costs. Of course, we cannot guarantee you obtain your permanent residence, because only the Paraguayan State can guarantee your residence application will be accepted. But usually, Italian people who have not ongoing criminal proceedings, obtain permanent residence in 99.9% of all cases. We offer you our professional consultancy.
Our costs are a little bit higher than average. The companies located in Paraguay usually ask for 4/5/6000 dollars. We ask for less than 8000 dollars, especially because we accompany our clients in their first journey to Paraguay. And, if our clients wants to travel with other people in a small group, costs are further reduced.
We guarantee our clients their Identity Card at most in six months.
When and how can you start the application with Living In Paraguay?
First you have to write us at www.livinginparaguay.com and you will be contacted by our Senior Consultant. You can set up a meeting and even, if you are very interested, you can also receive a first draft of the contract.
Once you have signed the contract we will send it to our offices in Tallin, (Estonia) and you will begin to prepare your documents in Italy (Birth Certificate, Civil Status Certificate and Criminal Record). All documents have to be legalized that is apostilled with Aja apostille).
All these certificate must be sent by email to our Offices and our lawyers will check them. Once they get the OK we will prepare other documents in Paraguay, so that when you arrive, they will already be ready.
You will have to deposit 5000 dollars at the Banco del Fomento in Paraguay. You will have this sum immediately returned, once you have obtained his permanent residence.
The sum is proof that you can support yourself in Paraguay.
We provide our consultancy to clients from the start of application till the end of it, when they retires their Identity Card.
We provide our consultancy to clients even to open a bank account or to establish a company.
Our service is highly professional. We work with a great many of Dutch, German and French clients. We have been in Italy for about a year.