Yeah, I agree there is some probability of there being a bubble, and I've been trying to explain that to brokers as well since the 2008 Spanish real state bubble made an impression to me. So my answer is that I accept that risk and seek to mitigate it by buying at distressed prices, modeling the risk explicitly, and staying away from shoddily built towers created to sell to foreigners

I'm curious, how do you know which are shoddily built? I know someone who owns an apartment, then it was discovered that during the construction they saved money on the cement mixture and now the building needs constant fixing, and even with fixing it doesn't seem very trustworthy because you can't replace the cement... Is there some way to check for something like that before buying an apartment?

Hi everyone! I'm coming to Asnución for 2-3 weeks. What's the best area to stay in, in your opinion?
Are there any events planned for the near future?

Near the Paseo Galeria shopping mall

Las lomas, carmelitas, recoleta, villa morra.

There are digi nomad meet ups every Thursday and usually a few different events each week

Date of the building and how long it took, talking with neighbors. Easier if you live in a neighborhood before buying something there

Thanks. Do you have an opinion on the distrito perseverancia, specifically regarding building quality?

The reason why I ask is because I've been thinking about getting an apartment to live in there. So this wouldn't really be an investment, I'm mainly looking for a nice place to live in in this case.

I think it will be a good area but it was a little disappointing to see how quickly the rain washed out some of the new development in that recent rain but that's probably something also impacted by so much development going on right now so the water issues probably will be worse until they are finished.

There's a whole reinvestment plan for that Artigas Street to improve it which I believe includes new drainage systems.

Interesting, I haven't seen yet what the recent rain did there, have you gone to check it out after the rain?

Interesting, that whole Street has a revitalization plan on Artigas so I'm guessing it will have to change one way or the other eventually

Thanks, this is an interesting article. I hope they actually end up doing it

Hi guys. I need a private health insurance for Paraguay. I already have safety wings , however I selected Paraguay as home country so I am not covered in Paraguay. Any suggestions on a good health insurance in Paraguay?

SafetyWings does not cover home countries, it's a general rule since it's effectively a travel health insurance

Hi Leo. Thanks for you answer. Yes that is correct. That’s why I was looking for a domestic health insurance for Paraguay specifically

https://www.Asismed.com.py

Thank you

I would recommend to participate the local foreign community events. Just boarding on plane to go there.

Personally, I have made some pretty negative experiences with the health care services in Paraguay. I'd recommend getting an insurance which at least also covers you in Brazil or Argentina, because if you have a serious issue you might want to go there to get it treated.

Which agency/professional have you used for your tax residency (and was happy with) in Paraguay? I’d need:
• Temp. residency
• Cedula
• RUC
• Consultations on getting Proof of Domicile

their website has SSL problems but they offer really good service : https://asunciontimes.com/paraguay-news/business-news/paraguay-residencia-get-legal-residency-in-paraguay-with-expert-help/

https://datos.csj.gov.py/data/abogados

Hi 👋
Does someone have a recommendation for a good accountant in Asuncion?
I'm looking for someone who's familiar with the taxation of foreign capital gains and foreign income, I'd like to declare it in Paraguay.
I've talked to a few accountants in my neighborhood, but they seem to only be familiar with the stuff that's relevant for an average Paraguayan person, so in my situation they're uncertain about the details.

"Zero Tax on Foreign Income: If you are a tax resident in Paraguay, you will not pay personal income tax (IRP) on money earned outside the country." I felt you won't be able to find it if it doesn't exist!

I have two goals, both of which require me to declare some income/gains in Paraguay and pay some IRP:

1) I'm working on getting the Paraguayan citizenship, one of the requirements is to have an income and pay taxes on it. My lawyer recommends that out of my foreign income I "localize" a small part and only pay taxes on that, just enough to satisfy the requirement.
2) I'm reallocating a part (~5%) of my investment portfolio into Paraguayan CDAs to balance the fluctiations in the USD/PYG rate. In order to satisfy the Paraguayan banks, that money which I'm moving into Paraguay should be declared in some way, even if it's only declared as tax-exempt due to being the result of foreign capital gains.

I felt you should just use an AI to you help you, most local accountant probably never handled it, but it shouldn't be too difficult.

I had various conversations with AIs on the topic, based on that I think I know what I need to do, but to not make mistakes I want to verify it with a professional.

Just my two cents, but getting residency does NOT require a lawyer in Paraguay, as opposed to, say, Panama

Hello, does anyone know any good apartment in Asocion for one month?

Looking to do some P2P to get PYG in exchange for USD/EUR. Does anyone know a good forum/community for that?

Anyone can help getting tax residency /proper set up? Or maybe you can recommend some Companies who can help

✌️

I’m going in 2 weeks to do it. If the company works well, I’ll let you know

Sent you a DM

Let me know when you arrive so we can grab a coffee

Sure 💪🏼

Hey all! I don’t know anything about Paraguay except the residency thing and I’d like to know more about it. I might have to go there in October for a week and I’m considering staying a bit longer.

How’s la Asunción in terms of community, cafes, quality of life, things to do? Is there accessible nature?

Are there other spots in Paraguay that have a bit of a nomad community that are NOT a city? I prefer small towns in nature..

How is it to connect with locals?

jsstwtoytj there's a nomad/expat whatsapp group -> https://chat.whatsapp.com/Dw2ZDujvi2cA9ySUuGQ4HR

Asuncion does not have good accessible nature. Parque de La Salud and Ñu Guasu are the main ones if you wanna be close, but doesnt compare to say, Medellin, Rio or Santiago.

Quite big community for a city of its size, you will find the most of it if you stay close to the main malls - Shopping del Sol, Mariscal and Paseo Galeria

Check Cafe de Aca, not the 1st spot id do for cowork but quite scenic and nice

Small towns in nature honestly cross over to Brazil lol
Encarnacion is the more nature oriented spot as you have the river beaches, but its like 200k people total and no noteworthy nomad community. San Bernardino with the lake is 1h away from Asuncion, some people base up there

Group chat is full 🥲

Argentine side takes one full day; the Brazilian side can be done faster. Both sides in one day is definitely a bad idea, don't do that.

Thanks!
Well 1,5 days.
Argentina on Saturday 8am until night.
Brazil Sunday 8am until 14h

Has anybody ever booked a flight from Asuncion to Montevideo? Paranair requires some tax information that I simply dont have as a european. However the form requires to put in something

Random question: I’m considering getting a second passport mainly for diversification, not for travel.

Given my nationality/lifestyle and how cheap they are, Panama (~5 years) and Paraguay (~3 years) seem like the most interesting options. The main thing for me is that I don’t want to significantly change my lifestyle or spend most of the year in one country. Ideally I’d maintain the residence properly, keep whatever local ties/assets are needed, visit a few times a year, and still be free to travel.

I’d consider citizenship-by-investment too if some cheap-as-fuck opportunity came up 😅, but I’m generally not interested in spending hundreds of thousands just for another passport as mine is already very strong (EU)

Has anyone here:
- actually obtained citizenship after ~3 years in Paraguay or ~5 years in Panama?
- done it while spending relatively little time there?
- found any other low-cost, low-physical-presence routes worth considering?

Also curious whether you think pursuing a second passport purely for long-term diversification is actually worthwhile.

From experiences I've heard, it's very difficult to get Paraguay citizenship. It only makes sense as a Plan A.

No it's not easy for Paraguay, Panama it is but you have to have the money for the investment. You can't get another passport for cheap AND without staying time and rooting in the country. Even if you went to brazil or argentina and 'marry' you need to be there two years.

Neither country is a fast naturalization process and neither is getting you a passport if you don‘t live there and build local ties sadly. Have to look for other options. Easier to consider a faster country where you’re ok spending time like DR, Argentina or Brazil. Can discuss more in private if youd like :)

I'm trying to get Paraguayan citizenship, already had multiple meetings with a local lawyer about it... It's not easy, if you don't spend most of your time in the country you can pretty much forget about it, even if you live here full time it's still quite tricky

Heard this recently, that even living here it's still tricky. Whats the hard part so far? The test? Or lots of paper work?

local ties and time. Test too though, i have a friend who actually failed it

I don't think the paper work is really the problem. It's a lot of paper work, but if you work with someone competent it's not exactly difficult to get the paper work together.
The hard part (for me) is are mainly the following points:
I cannot leave Paraguay for more than 90d per year during the 3 years prior to the application date
To qualify for citizenship, you need to have local economic activity and pay local taxes. In my case this was complicated because all my income is abroad. I figured out how to funnel a part of my income into the country and pay taxes on that part, which allows me to qualify for citizenship.

This is very useful. Thank you.

Do you know more about the general criteria for what defined local ties?

I'm not a lawyer. From what I've heard, the easiest way to satisfy the "local ties" requirement is to buy some property, even if it's just an investment and not to live there

local ties could also be getting a ‘Paraguay EAS’ and bring a part of your foreign income in that way. Maybe get some Paraguayan stocks/bonds/cd held in there too.

Nice so for someone who actually lives here full time its not that much of a stretch

interesting, ty

Hello Mauro, do you have a good lawyer there which you can recommend?

I have a lawyer, I wouldn't call him "good" 😂️️️️️️ His office is very close to where I live, that's how I picked him

Sounds good. Please DM it to me. :)

Hey everyone, I will be in Asuncion for the first time in my life, so what is a must-see/visits? Thanks!

I have an agent that did mine, really good and efficient

Rent a scooter and explore 😊

Costanera at sunset is nice

Oh really? Did you complete the whole citizenship procedure successfully? In that case, yes I'd be interested, thanks!

I got the temporal Cedula, waiting for the real one. It takes some time

Ic, we were talking about citizenship. That's quite a lot more complicated than any residency

Ah okok! I think it takes 3 years after the residency

What are the best places to get clean healthy (and cooked) food in Asuncion?

Basically I just want chicken/beef + rice/potatoes/pasta/lentils + veggies, all without loads of oil/fats. Or just chicken breasts and I’ll figure out the rest.

La Cabrera in Santa Teresa

Looks great but unfortunately no deliveries 🙁

Will be in Asunción for the next two weeks - if you want to grab a beer, hit me up

I ended up essentially training a local guy near my apartment to cook meats for me. On your send, you could also hire a local cook to cook stuff for you every day. Where are you located?

will DM 👀

Genius hahahahah

Love this. How much do you pay him?

Hey does anyone know good sauna plus ice bath close to shopping del Sol (no gay sauna)

TIA

It's okay to be gay bro

Paraguay changes people

Hahahahahah

on your end

Who’s in Asuncion next week?

Hey anybody can recommend a good physiotherapist in Asuncion who comes to your house?
TIA

Anyone down for dinner or drinks tonight? Or have recommendations where to go?

Anyone has dealt with AVANZA real estate company? Any red flags?