DUBAI vs PARAGUAY

[ciccino]

I see Dubai is the trend of the moment, what's the advantages compared to Paraguay, considering the last being NO-CRS, Crypto-friendly, white list and tax free for foreign income?
Also you are not forced to return very 6 months, thank you.

 

[JohnLocke]

Paraguay is a very nice destination if you don't need to live there, I went there a few years ago because I wanted to see how Paraguay is and if it is that bad as the people say that live in Uruguay. Sadly, I just got confirmed my doubts.

But every place can be a paradise depending on each individuals needs and requirements.

 

[Fred]

Surprise - Surprise.

I was already looking into this structure because the crazy low-key profile Paraguay has - they are even not considered by the OECD for something related to CRS shielding through Residence by Investment.

I was looking first time into this structure in 2019 as I was aware of getting Singapore, Switzerland etc. banking done with Residence in Paraguay.

However COVID started and since then it's technically still very difficult to get to the country if you are from Europe.

Furthermore it's kind of loophole setup as you get on your Residence Card some public address on it some international Bank may accept or not.

So if things slightly change the whole structure could potentially not work any longer and you need to build ties with the Country.

I'm even not sure if in 2021 the things are the same like 2 years ago in a offshore world that changes so fast.

Maybe @Outlander can enlighten us if his structure is still up and running and if he is aware of how things work in practice in 2021.

Could be a nice diversification - in theory at least.

 

[ciccino]

Paraguay is a very nice destination if you don't need to live there, I went there a few years ago because I wanted to see how Paraguay is and if it is that bad as the people say that live in Uruguay. Sadly, I just got confirmed my doubts.

But every place can be a paradise depending on each individuals needs and requirements.

What's so bad about it?

 

[vevaconsult]

Paraguay has a beautiful bridge in Iguazu, that you cross in 5 minutes,which leads to Brazil.. not a bad place to live. Alternatively to the bridge, still in Iguazu, you just have to take a short road and you enter Argentina.

 

[Outlander]

Surprise - Surprise.

I was already looking into this structure because the crazy low-key profile Paraguay has - they are even not considered by the OECD for something related to CRS shielding through Residence by Investment.

I was looking first time into this structure in 2019 as I was aware of getting Singapore, Switzerland etc. banking done with Residence in Paraguay.

However COVID started and since then it's technically still very difficult to get to the country if you are from Europe.

Furthermore it's kind of loophole setup as you get on your Residence Card some public address on it some international Bank may accept or not.

So if things slightly change the whole structure could potentially not work any longer and you need to build ties with the Country.

I'm even not sure if in 2021 the things are the same like 2 years ago in a offshore world that changes so fast.

Maybe @Outlander can enlighten us if his structure is still up and running and if he is aware of how things work in practice in 2021.

Could be a nice diversification - in theory at least.

Yes works like a charm still. Also, it's fairly easy to find someone who will "rent" you an address so you can have an utility bill in your name, in case you're not satisfied with the address your immigration agent assigns to you.

 

[Brace]

Yes works like a charm still. Also, it's fairly easy to find someone who will "rent" you an address so you can have an utility bill in your name, in case you're not satisfied with the address your immigration agent assigns to you.

Hello @Outlander Do you think you could give me some insight? I am between georgia and Paraguay residency, i have explained my situation on this post:

https://www.offshorecorptalk.com/threads/eu-living-in-georgia-not-elegible-for-1-scheme-where-to-incorporate.35501/#post-192326

 

[JamesDonkey]

Yes works like a charm still. Also, it's fairly easy to find someone who will "rent" you an address so you can have an utility bill in your name, in case you're not satisfied with the address your immigration agent assigns to you.

Is it easy? How would one go about finding such an address?

 

[JohnLocke]

Yes works like a charm still. Also, it's fairly easy to find someone who will "rent" you an address so you can have an utility bill in your name, in case you're not satisfied with the address your immigration agent assigns to you.

to you have any references or some website to suggest ? I'm curious to find out how this could possibly work.

 

[JackAlabama]

to you have any references or some website to suggest ? I'm curious to find out how this could possibly work.

You gotta go there on the ground and help will find you

However comparing those two locations are like comparing apples vs. oranges or beach / sea lifestyle vs. winter / mountain lifestyle.
I could barely think of two places more diverse than those two.

Paraguay is also far from whitelisted in Asia, so if you want to do business/banking there, it is not a good location.

Makes sense imo to start out there if there is very limited capital available and be able to build up fast over some years with an online venture or if one has perfect Spanish and likes being in emerging markets, it can also be used nicely for borderruns if one wants to living in areas such as Argentina, South Brazil etc.

 

[JamesDonkey]

You gotta go there on the ground and help will find you

What makes you give this advice? Have you done it youself?

 

[MiddleEuroAsia]

What makes you give this advice? Have you done it youself?

It's generally what happens in emerging markets, word of mouth is the way you get things done, even after using the services of lawyers/accountants who are living in modern times and have an online presence, for some structures, you will find that these same lawyers will recommend you people that you never know existed if not for the word of mouth.

 

[JackAlabama]

What makes you give this advice? Have you done it youself?

Experience Have you ever been to one? It doesn't matter much which continent it is quite similar. Yes, I did so in multiple ones on 3 continents.

 

[uplana]

Experience Have you ever been to one?

like to know the same

 

[JamesDonkey]

Experience Have you ever been to one? It doesn't matter much which continent it is quite similar. Yes, I did so in multiple ones on 3 continents.

I'm there now. What's next?

 

[JackAlabama]

I'm there now. What's next?

Post some pictures of the nightlife for example. PM is also ok.

 

[MiddleEuroAsia]

I'm there now. What's next?

Contact ferrere. They are a big law firm in the region and are recommended by the legal500 directory, so they should be able to help you, and then go from there.

 

[JamesDonkey]

Post some pictures of the nightlife for example. PM is also ok.

I'm on the ground there. Where is your plan then?

 

[JamesDonkey]

Contact ferrere. They are a big law firm in the region and are recommended by the legal500 directory, so they should be able to help you, and then go from there.

How could a law firm help me other than giving advice of buying or renting a property, for instance? But I already know that. The whole point to avoid it and instead use some loopwhole, yet legally so.