Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Paraguay
The time to venture into business in Paraguay gets even better now that the regulations favor both foreign and local investors. The fact is that the company incorporate in Paraguay becomes much easier the moment your documents are in order.
But despite that, you can as well follow through with the registration process through a business solution service provider and get over it.
3E Accounting Indonesia is one such consultant firm that provides you with a range of services to choose from:
- Accounting and auditing services
- Legal and taxation services
- Business setup
- Payroll and human resource services
- Business permit application/renewal services
- Corporate secretarial services
Once you’ve everything ready, contact us today and benefit from our highly trained professionals.
Ensuring Business Name
It follows that every business must have a business name and this is no exception when it comes to company incorporate in Paraguay. When formulating your business name, you must ensure that the name is unique it and holds some components of social motivation. You then must endorse your proposed name with authority.
The Incorporation Deed
Should you decide to proceed with the registration process, you must ensure that you prepare your incorporation deed. The incorporation deed should clearly outline some of the following information such as the number of partners (s), the key activities of the company, the capital formation and composition alongside the Articles of Association. The next step is to notarize these documents with an accredited Public Notary. The laws governing company registration in Paraguay stipulates the registration of all your financial books of account with the Company’s Registry and the Treasury Attorney Office.
Document Application and Verification Process
Besides the Attorney’s office, you should present the document at the single access window (SUAE) which will take approximately 20 days for verification. Once you’re through with the application process, you’ll be issued with a taxpayer’s registry number with the Ministry of Finance. 3E Accounting Indonesia, through our experience over time will expeditiously roll out the process with the relevant authorities once you give us the green light.
Tax Identification Number
When it comes to company incorporate in Paraguay, every company must register as a taxpayer with the Tax Authority. Once the Tax Authority has verified all the relevant documents, you’ll receive the Tax Identification Number (TIN) when you apply through the online portal. After you do that, the (TIN) will assist you in bank opening application and when filling your monthly and annual returns such as the VAT and Income taxes.
Types of Business Structures
As an investor, selecting the type of business structure is essential as each structure has its key requirements. In the event you decide to go for the Limited Liability Company (LLC) or Sociedad de Responsibilad Limitada (SRL) way you’ll should meet the following requirements:
- A minimum of two (2) shareholders with one being a resident of Paraguay.
- No minimum capital required.
Should you decide to set up a Corporation or Sociedad Anonima (S.A) you’ll need at least two shareholders with one being a resident of Paraguay. For a Corporation, the initials (S.A) must be inscribed on the company name when formulating the name. The minimum paid-up capital stands at US$1with $10,000 when you’re venturing into export-import based company.
Importance of Business License
A business license is one of the prerequisites of the company incorporate in Paraguay. Having your certificate of incorporation alongside other documents, you can register with the Chamber of Commerce or the municipality of your business jurisdiction. Through the same authority, you can get your physical address and office registered.
Social Security Institute Registration
Under the Employment Act, every business must register with the Social Security Institute and the Ministry of Justice and Labor. The laws stipulate that every employee must be covered for their health and safety while working and their future taken care of through provident funds.
3E Accounting Services
And so, you can consult further on other regulations regarding company incorporate in Paraguay through 3E Accounting Indonesia without getting back-and-forth with the authorities. Contact us now!
Every step counts!