A little country sandwiched between Brazil, Bolivia, and Argentina is called Paraguay. A population of approximately 7 million people live in a 406,752 km2 area. Though it is one of the two countries in South America (together with Bolivia) without direct access to the ocean, it remains an important hub for coordination and a fantastic starting place for an untested project to explore other Latin American countries. A few decades ago, Paraguay started to fight extreme poverty and adopted a number of business-friendly policies that have sparked the local economy’s explosion. The local economy grew at a typical annual rate of 4.5% between 2004 and 2017.
Moreover, there has been a 49% decrease in extreme neediness since 2003. This has led to the flourishing of the Due to its very open financial system, Paraguay is an easy place for foreigners to start their economic endeavors. The legislature has created a number of incentives to entice new businesses, such as tax breaks, complete bring-home of profits and capital, and equal rights for both local and new businesses.
The ease of obtaining a legal living arrangement in Paraguay is a remarkable example of simplification that simultaneously piques curiosity. Obtaining a place to live only requires speculating roughly $5,000 USD in the country, or occasionally, having some cash on hand. Any outsider increases all of the rights that a Paraguayan resident enjoys, other from the complete testimonial, with this official long-term residing arrangement.
Despite the small size of the domestic market, merging a company in Paraguay creates enormous opportunities for expansion into the neighboring markets of Brazil and Argentina. Therefore, if you are interested in starting your business in Latin America, you should give Paraguay some serious thought. A member of MERCOSUR, the country has favorable economic and exchange circumstances with its citizens.
