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 also have to file every year regardless if you make less than the limit. This info is from my accountant.
Mine told me after one year of declaring less you can stop filing. Idk all accountants say different things here.
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.
Correct. Unless you do work for IVA exempt entities (public universities for example) - they are exempt. However, once you have RUC you also have obligation to declare your IVA or pay a fine.
Ok so the Medical Test is not needed for temporary residency but is required for permanent residency? or is it never required? Thank you.
Congrats! What made you apply for this residency? Are you planning to get permanent residency and citizenship later on?
PY’s taxation, citizenship law and the never ending need for backup plans. I am also interested in business opportunities in the country.
Yes
Of course, because why not? I don’t have a need for it, but it costs nothing, and it’s not a fake citizenship (like all the CBIs are - let’s be clear).
Is the Bahamian Citizenship not worth it? You could become invisible like @Martin Everson
What do you mean by “worth”, since it’s not for sale?
It doesn’t come with such superpower
If someone is trying to sell it, yes
Worth waiting a decade to naturalize and renounce previous citizenship
Invisible from ever being a threat to governments such as citizenship based taxation
If you decide to live in the Bahamas this is supposed to be a logical step and a right, not something worth or not. Same as in Paraguay or any other country.
You don’t become invisible based on what passport you hold or not.
