Success tips when doing business in Paraguay in 2024

1. It is important that our Client prepares a comprehensive business plan detailing i) study of the Paraguayan market ii) an evaluation of competitors and iii) a feasibility study of the venture;
2. It is advisable for our Clients to perform a detailed study of the particular sector where they plan to setup the business. This will in the long run optimize the company’s work productivity;
3. The two official languages in Paraguay are Spanish and Guarani hence Clients who plan on setting up businesses in this region should try and learn these languages for ease of communication since English is not commonly used by locals and many official documents need to be translated to Spanish;
4. Clients should build rapport with the locals, understanding their value systems as this is an essential tool for doing business in Paraguay. Paraguayans value friendships and hospitality