10 steps to incorporating in Paraguay in 2024

1. Prior to incorporating a legal entity in Paraguay, Healy Consultants expects Clients to i) settle the Healy Consultants engagement process fee ii) sign and return the Client engagement agreement letter and iii) provide all the required due diligence documents;
2. Healy Consultants drafts a detailed company incorporation engagement project plan mapping out a step by step incorporation engagement process and corporate bank account opening process in order to optimize transparency and to set the Client’s expectations towards the engagement completion;
3. Healy Consultants Paraguay Incorporation Team reserves the proposed company names with the Commercial Registry to verify the uniqueness of the desired name;
4. Healy Consultants Compliance Team i) drafts the new company deeds and bylaws, ii) commissions a licensed public notary to notarize the company deeds and bylaws and proceeds to register and file the same with the Treasury Attorney Office, the courts and the companies registry;
5. Healy Consultants Paraguay Incorporation Team then i) procures the company commercial books from the government bookstore and ii) submits the books to have all their pages sealed by the judge at the civil and commercial court;
6. Healy Consultants Incorporation Team submits i) all the required documentation to the single access window Sistema Unificado de Apertura de Empresas (SUAE) and ii) the bylaws and other company formation documents to the Treasury Attorney Office and iii) obtains the registration certificate;
7. Healy Consultants Paraguay Incorporation Team then i) registers the company for taxes with the Ministry of Finance and obtains the Taxpayers Registration Number (RUC) ii) submits the company documents for assessment at the Municipality of Asunción and obtains the relevant license and permit;
8. Healy Consultants i) registers the company with the Social Security Institute (IPS) ii) the Ministry of Justice and Labor in order to be able to hire iii) the General Migration Office to obtain residency and iv) publishes an excerpt of the company bylaws in the Official Gazette;
9. Healy Consultants International Banking Team assists our Client to open a multi-currency corporate bank account with a leading international bank in Paraguay with excellent internet banking to facilitate the new company;
10. Following successful incorporation of the Paraguay company, Healy Consultants will courier, to our Client’s preferred international address, the complete company kit including i) original corporate documents ii) an unopened bank correspondence and iii) Client engagement feedback survey.