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A Step by Step Guide to Incorporate a Company in Paraguay

The moment you decide to incorporate a company in Paraguay, you must have had an idea about the whole process. But if you haven’t don’t beat yourself up because information is out there and the government of Paraguay has created a business-friendly environment. You only need to get your documents right and legalize your company. But how do you incorporate a company in Paraguay?

 

Company Registration Process

Any business requires a business name to begin the legalizing process. Start by selecting a unique business name for your company and have it verified for its uniqueness. Company registration in Paraguay requires that you have specific documents at hand to commence the process. A company has its way of operations and therefore, ensure that you’ve created your company’s by-laws. Besides the by-laws, you’ll need to draft into writing a company’s deed and an Article of Association. The documents must be notarized by a licensed public notary to legalize them. Again, to incorporate a company in Paraguay the accounting books should be registered at the companies registry (Direccion General de Los Registros Publicos). Similarly, the documents should be presented to the single access window referred to as (Sistema Unificado de Apertura de Empresas) SUAE, a process that will take approximately twenty days.

 

Type of Business Structure

If you, for example, feel Sociedad Anomia company structure is not well suited to you, you can opt for Sociedad de Responsibilad Limitada (SRL). Majority of foreign investors prefer this company model because it safeguards your investment involvement. You’ll need to have at least two shareholders with one being a Paraguayan national, the company name must have the initials S de RL, no minimum capital required and the process only takes 2 to 3 months to complete.

For people to access your premise, you must ensure your company has a physical address. Take it upon yourself to look for the relevant certificates from the municipality or the Chamber of Commerce such as licenses to incorporate a company in Paraguay.

Every business is a tax entity and will be issued a tax identification number (TIN) after submitting an application to the tax authority. The importance of the TIN lies in the filing of VAT, income tax and other related tax obligations. Registration of all taxpayers is done with the Ministry of Finance.

You may ask if any funds are required to verify your company. But surprisingly there is no minimum capital requirement. If you are in the export business, you only need to pay a nominal fee of $1 and a nominal fee of at least $10,000.

Finally, you have to find a suitable company location to ensure that you can receive official letters from government departments, including Paraguayan company licenses, etc.

Want to know more about setting up a company in Paraguay, please contact us, 3E Accounting will provide you with the most accurate information.