Paraguay exposed: Myths and Truths

☎️ Personalized Tax & Residency Advice Book a call: https://calendly.com/michael-rosmer Today we will be debunking lies and myths about Paraguay 🇵🇾 one country that has been very popular on the internet in the last while as a tax haven and popular digital nomad spot in South America. Paraguay is famous for its tax advantages, especially for foreigners. Paraguay offers a flat 10% tax rate, and a territorial tax system, which makes it quite appealing! Tax system is favourable as it is, but the territorial model gives more room for further optimization. The biggest talking point of Paraguay is that you can obtain a residency with no physical stay requirements in the country. You can get an initial two year residency in Paraguay with no stay requirements, and afterward you can return to obtain permanent residency. It's a fairly easy and inexpensive process. However, this is what many people get wrong about tax residency in Paraguay. They believe that once they obtain this paper, without any stay requirements they will be able to live tax free elsewhere. WRONG - this is not how tax residency works. Just because you have a tax residency in Paraguay, it doesn't mean that other countries in question, in particular country where you're spending most of your time will accept this and not tax you. If you meet tax residency criteria elsewhere, tax residency certificate from Paraguay will be meaningless and you will still have to pay taxes in another country. ------------------------------------------------------------------------------------------------------------------------------ Since 2012 Michael Rosmer together with the Offshore Citizen team has been helping digital nomads, entrepreneurs, and investors from over 100 countries to: Legally lower their taxes Protect their assets Form offshore companies & bank accounts Relocate around the world with 2nd residencies & citizenships Michael has lived in 7 countries on 3 continents, invested all over the world, and run multiple global businesses. Mentored under some of the top international tax attorneys he and the Offshore Citizen team of lawyers and accountants specialize in assisting clients in crossing the gaps between countries. Services offered include full customized end to end done for your offshore structuring: Strategy - developing the best solution for you Implementation - setting up the companies & trusts, opening bank accounts, securing residency visas and citizenships Maintenance - maintaining the whole structure and ensuring compliance These solutions are personalized to you and the laws applicable in your given regions and built around real world operational considerations to be actually practical not just good on paper. Services: International tax planning, asset protection, offshore company formation, trust set up, offshore bank account opening, Plan B, residencies & citizenships, done-for-you solutions .......................................................................................................................................... ☎️ Personalized international tax, residency, and banking strategy book a call with Michael: https://calendly.com/michael-rosmer 🌎 For details or to contact us visit our website: https://offshorecitizen.net