Question I've a Paraguayan residency - What're my real advantages now ?

#41
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lukar said:
I guess that I would if I renounce to my EU residency after getting the Paraguayan one.
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Depending if you are a resident or citizen and depending of your country the process you should follow make sure to check it out.
I am currently living in Paraguay and the banking here sucks. You better keep some account in Europe if you can. Other options are Xapo bank or Zenus ( I received my card recently haven’t use it yet)

daniels27 said:
How much can you recommend Paraguay as a place to live?
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Depends on what you want if you want to focus in work online, go to the gym and being left alone is good. There’s not much to do and summers are HOT.
If you don’t speak Spanish you better start learning as most people don’t speak English.
It’s safe but there is lots of scams.

You can open Xapo bank, Zenus or Dukascopy with paraguayan proof of address and tax id.

TheCryptoAnt said:
I mean its always 0% tax if you dont declare anything so

It aint like the Paraguayan government is efficient at like anything
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This is the way to go. I talked with a few accountants here and everyone told me something different but everyone agrees on this you get taxed only in the money you deposit in your Paraguayan bank . There’s not CRS so they don’t even know or care if you have a bank account or 10 offshore. No crypto regulation yet, only one Emi, is like they are discovering internet.
If is a safe place in this world to not pay tax and not get caught is here.
 
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#42
You can also keep your existing European bank accounts, and these can serve as current proof of address for opening new European accounts. So even after living in Paraguay for years you can open new EMI accounts in Europe with your old european addresses. And you can set up mail forwarding so you get debit cards sent to you, and you can even register accounts in Europe at a mail forwarding address.

Only issue is if you come from a European country where having a bank account counts as a tie for tax residency (like the Netherlands, Germany). In this case you might want to close all accounts in this country, but briefly register in some other European country (like Ireland, Estonia, Denmark, many others), and open accounts with your address in this other European country.

Banks in Paraguay are so bad so Id strongly recommend having multiple accounts elsewhere (for redundancy, and to not pay Paraguayan tax). Xapo is great (and no need for a european address for it), and having a US account as someone suggested is also a good idea.
 
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#43
What happened to you?
Did you ever joined the PY expat community on WhatsApp?
How about the Bitcoin community in PY?
 
#45
wellington said:
There’s a guy on YouTube crypto clover if memory serves - bought heaps of land there with crypto

So I imagine there is a big P2P scene
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Paraguay enacted new crypto laws against miners and whatnot.
Source: La CONACOM emitió una opinión sobre el proyecto de ley del sector de criptominería – Comisión Nacional de la Competencia.

Also, here: https://twitter.com/x/status/1775964162675351664

Too many BIG MOUTH ostentatious low self-esteem scammers/losers on social media went there and started blabbing about the energy being so cheap and flaunting money around in a society where most only earn about €323/month.
Source: Ministerio de Trabajo, Empleo y Seguridad Social :: Reajuste del jornal y salario mínimo rige desde hoy


There are NO mutes in prison!

PS. Oh well....it was good and very profitable while it lasted.
 
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#46
Don’t think he was mining - was building a place in the jungle and growing fruit lol
 
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#48
wellington said:
Don’t think he was mining - was building a place in the jungle and growing fruit lol
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Pardon the confusion. I didn't mean him. I meant PY has turned its back on crypto because ... "they've been ordered to."

Paraguay just lost its way due to outside "influences & threats."

wellington said:
Solar panels are so cheap now same with inverters doesn’t take much to pull in power for mining - I pull in 24kw for my home
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100%! We discussed this in Mentor Gold.
The issue now is that in certain countries, if they know a person is mining, they are coming...with badges (court orders, etc.) or without badges.
Source: Known Physical Bitcoin Attacks. A list of known attacks against Bitcoin / crypto asset owning entities that occurred in meatspace. NOTE: this list is not comprehensive; many attacks are not publicly reported.
 
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#49
Did this bill pass to become law?

According to the twitter account he didn't expect it to pass.
 
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#50
Freetrade said:
Did this bill pass to become law?

According to the twitter account he didn't expect it to pass.
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Same thing...

No mining in residential areas. If they catch the perpetrator, they are gone! The neighbors now have incentives to snitch.
They come in hard through the front door and seize everything. The courts/government split the loot.
The kwh cost in designated areas has now been increased to a prohibitively expensive sum, not to mention all the extra costs.

Etc. etc.

Example: https://www.criptonoticias.com/mineria/3000-mineros-bitcoin-ande-paraguay-allanamiento-clandestino/

Note: If the mining doesn't have a license, it is considered theft of utility and illegal mining. You know...the usual casuistry and sophistry of the "legal" system.

Mission accomplished!

PS. There are NO mutes in prison! EVER!
 
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