In this really difficult historical period with the Covid 19 pandemy not yet eradicated and with the worrying war between Russia and Ukraine, that in practice involves almost the whole world, if you have your permanent residence in Paraguay and your Paraguayan biometric Identity Card, you can count on a real plan B.
In addition, you can cease to pay all the tax in your home country and you can find a new country that is waiting for you, whether you are vaccinated or not.
Many of our clients for personal or medical reasons do not want to get vaccinated and they found Paraguay, a country that does not discriminate them at all. As a matter of fact, the Paraguayan Government advises but does not impose the vaccination against Covid 19.
But, without diminishing absolutely these very valid reasons to live, work and enjoy their tax-free pension in Paraguay, we also have many clients who chose Paraguay to safeguard their asset.
The point is that our clients in this moment have understood the absolute necessity to relocate their personal or familiar asset. So, they need to have their residence in a stable country with a very solid banking system and Paraguay is an excellent example of this.
Once our clients have obtained their permanent residence in Paraguay, they can open a bank account in dollars, guaraní or euro in one of the paraguayan banks and so they can move there part of their capital.
At this point, they can invest in property, in land or in head of cattle, that at the time is one of the safer and profitable investments on the market.
Let’s get one thing clear. When we talk about safe asset, we mean that will NEVER be an exchange of information between European or North American banks and Paraguayan banks because the latter scrupulously apply the privacy law to safeguard their clients.
Also Paraguay signed, like almost all countries, an agreement that allows the exchange of bank information to avoid problems of money laundering, but for internal privacy reasons does not provide information to third parties about bank accounts of their clients.
The Paraguayan Banks provide this type of information only to legal authorities, in case one of heir clients has been convicted of illegal drug or weapons trafficking or of terrorism
Of course in these severe cases, the Paraguayan actively collaborates with Interpool and with legal authorities.
In all other cases Paraguayan banks absolutely respect the Bank Secrecy Law.
This is the bank system that our clients find in Paraguay and, consequently, they can take advantage of an excellent opportunity to safeguard their savings.
As we already told, to open a bank account in Paraguay is not very simple and fast and you have to prove to have regular and continuous revenue, and you must bring with you a bank statement of the past six months (at least) as a guarantee.
Our client must submit all the documents requested by the bank, that we will provide, and at the same time we will help him with all the bureaucratic procedures to open his bank account.
After the submission of all documents, the bank will need about 20 days to check them and after this, everythig will be ready to open the bank account of our client.
Another request by our clients is to set up a company in order to best protect their asset. Then, their bank account will be registered to a company and the name of our client will not appear.
Also this procedure is fully legal and all those who have a permanent residence in Paraguay can take advantage of it. To open a Limited Liability Company and to open a bank accounted registered to it, you usually need about two or three months.
Many of our clients took advantage of this great opportunity and they were very satisfied with it..
For any information and to book your application of permanent residence in Paraguay and of Paraguayan biometric Identity Card, please contact us at info@livinginparaguay.com, and you will be assisted 24/24 also for an individual quote. You can also write us on Whatsapp at: +34 637 38 89 60 and you will receive our support 24/24 h.
