But, before starting your business in Paraguay, you should know that there are some bureaucratic steps to follow. First of all you must be resident in Paraguay. So, your first step will be to obtain permanent residence. It will take about six months.
Procedures are simple and do not require special efforts, if you rely on serious professionals. Once you obtain your residence, you can immediately open a bank account. Furthermore, with your residence you can easily cross the border only with your Paraguayan Identity Card and travel to Argentine, Brazil and Uruguay and also invest in these States.
At this point, the next step is to register your company at the Junta Commercial. The necessary papers vary according on the type of company you want to start and on the area in which you are going to operate.
This registration is the birth certificate of your company. Then, you must enter your company into the “Receta Federal”, that is the national register of legal persons (CNPJ) and also into the “Secretaria da Fazenda Estadual” (IE).
Moreover, you are obliged to carry out municipal inscription. If you want to start to operate in the company, you must obtain the “Alvaras” that is the necessary Operating Licences for the type of company you want to start. And if all this scares you, do not worry: there are plenty of professionals ready to help you.
Worthy of note is Living in Paraguay, the only European company in Paraguay that can offer you all the legal administrative and financial advise you need for you move to this wonderful country of South America!
THE MOST PROMISING SECTORS ON WHICH YOU SHOULD FOCUS
As regard the most popular sectors we can tell you that agriculture and breeding are the economic motors of Paraguay. The country is in the first place for production of renewable energy and in the second place for the production of stevia. As a matter of fact Paraguay is the sixth exporter of meat in the world. And it does not end there, because Paraguay is also an important exporter of soy and sunflowers. If you are going to invest here, among the sector on which you should focus, surely there is cattle farming for which are targeted 25 million hectars. Industry is also beginning to develop: non only the textile one, but also the industry of leather, timber and chemicals and pharmaceuticals.
Therefore, investing in these sectors could be advantageous.
The same applies to tourism, that in the last years experienced a remarkable growth and we are sure that it will continue to grow. Just think that in 2017 the number of tourists almost doubled and offered excellent opportunities related to the development of tourism in many wonderful areas of the nation.