Paraguay residence - my journey
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Basic accounts are easy (1k monthly limit) = no credit cards, no international transfers, and no USD accounts.
For real banking, you need contacts or economic history in the country. 40% UENO discounts on credit cards have been quite tasty lately tho :-D
Basic accounts are easy (1k monthly limit) = no credit cards, no international transfers, and no USD accounts.
For real banking, you need contacts or economic history in the country. 40% UENO discounts on credit cards have been quite tasty lately tho :-D
For real banking, you need contacts or economic history in the country. 40% UENO discounts on credit cards have been quite tasty lately tho :-D
A lot of crypto-foreigners here live bankless. There are no problems. I would only argue that they miss out on a lot of those credit card discounts. 25% on groceries, 30% here, 40% there””it adds up.
I don't know about the hacking. To me, it seems pretty much the same as EU banks (tokens...).
However, I know of one scam scheme local P2P vendors use on Binance. It does not work with all banks, but with some, yeah. They know your bank account and the number of your cedula, so they try to log in to your bank account multiple times, which triggers a block. Then, they send you a photoshopped screenshot of payment on Binance and demand you release crypto.
A lot of crypto-foreigners here live bankless. There are no problems. I would only argue that they miss out on a lot of those credit card discounts. 25% on groceries, 30% here, 40% there,it adds up.
I don't know about the hacking. To me, it seems pretty much the same as EU banks (tokens...).
However, I know of one scam scheme local P2P vendors use on Binance. It does not work with all banks, but with some, yeah. They know your bank account and the number of your︀ cedula, so they try to log in to your bank account multiple times, which triggers︁ a block. Then, they send you a photoshopped screenshot of payment on Binance and demand︂ you release crypto.
I don't know about the hacking. To me, it seems pretty much the same as EU banks (tokens...).
However, I know of one scam scheme local P2P vendors use on Binance. It does not work with all banks, but with some, yeah. They know your bank account and the number of your︀ cedula, so they try to log in to your bank account multiple times, which triggers︁ a block. Then, they send you a photoshopped screenshot of payment on Binance and demand︂ you release crypto.
The tax free amount for residents of Paraguay is 80 million Guaranis per year (as of now 1 US = 8,000 Gs). If you make less than that, you do not need to pay taxes not even file a report. However, once you are over that threshold only once, you will also︀ have to file every year regardless if you make less than the limit. This info︁ is from my accountant.
And agreed, I have now 3 local bank accounts but all︂ of them open through friend of a friend who works in the bank.
And agreed, I have now 3 local bank accounts but all︂ of them open through friend of a friend who works in the bank.
That's IRP - personal income tax.
As an independent with RUC number you should charge IVA (vat/sales tax) if you make money within the territory, and pay it every month, if you have more income than expenses.
That’s IRP - personal income︀ tax.
As an independent with RUC number you should charge IVA (vat/sales tax) if you︁ make money within the territory, and pay it every month, if you have more income︂ than expenses.
As an independent with RUC number you should charge IVA (vat/sales tax) if you︁ make money within the territory, and pay it every month, if you have more income︂ than expenses.
thats normal in such places and happens to me pretty much in every shithole i spend time in. So common sense approach is to not overhelm the local bureaucracy with paperwork where they dont get money out of it.
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Of course they do open accounts, even for temporary residents.
It's LATAM. There are no rules written in the stone of what can and can't be done.
Everything depends on who you talk to. How you talk. Etc.
Of course they do open accounts, even for temporary residents.
It’s LATAM. There are no rules written in the stone of what can and can’t be done.
Everything depends on who you talk to. How you talk. Etc.
It’s LATAM. There are no rules written in the stone of what can and can’t be done.
Everything depends on who you talk to. How you talk. Etc.
I have completed the residence application process, with the assistance of @NewHorizonsParaguay
He provided a great service, took care of me from arrival to departure and handled all the necessary tasks quickly and professionally. He was also able to solve a small problem with my papers in a matter of one hour.
@NewHorizonsParaguay made my stay in Asuncion enjoyable, as he knows the city very well and has many connections beyond the immigration offices.
I have received a “residencia precaria” paper and I am now waiting for the temporary residence permit to be issued.
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He provided a great service, took care of me from arrival to departure and handled all the necessary tasks quickly and professionally. He was also able to solve a small problem with my papers in a matter of one hour.
@NewHorizonsParaguay made my stay in Asuncion enjoyable, as he knows the city very well and has many connections beyond the immigration offices.
I have received a “residencia precaria” paper and I am now waiting for the temporary residence permit to be issued.
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