The “Chamber for International Trade & Industry of Paraguay” (CITIP) is a nonprofit business organization dedicated to promoting free trade, commerce, investment, and cultural exchange in Paraguay.
CITIP Paraguay provides a variety of services to its members and to international companies and individuals interested in expanding into the Paraguayan market. These services include business information and research, business facilitation and networking opportunities, trade mission organization, conferences, and more.
CITIP’s membership consists of leaders from a broad range of sectors, including, investments, banks, rating agencies, oil, agriculture, law, travel, and hospitality.
Based in Asuncion (Paraguay) and Geneva (Switzerland), CITIP is supported by prominent member companies and individuals from Paraguay, Europe, Asia, Middle East, USA, and the at-large international investment community.
CITIP has no formal connections with any governments and does not receive any government funding. It is supported by corporate and individual members and by sponsorships.
By associating with the Chamber for International Trade & Industry of Paraguay, your company can access its broad platform of information on markets and business contacts.
-Promote greater knowledge and understanding of the economic, financial, and political climate of today’s Paraguay
-Represent the interests of its members in the public and private institutions of Paraguay
-Collect and disclose the legal provisions governing trade and investments among its members
-Promote joint ventures of public & private sectors for Paraguayan development
-The Association accomplishes these objectives by bringing together International business people, government officials, honorary consuls and individuals at a variety of programs, and by posting news and other items on its social media pages
Foster commerce, investment, cultural relations, and goodwill between the nations
Generate programs to promote safe investment opportunities in Paraguay
Promote your permanent residency in Paraguay and promote the opening of your company in Paraguay
Promote tourism in Paraguay and disseminate accurate information concerning Paraguay
Paraguay is a country of vast natural resources. Clean energy production is a key activity in the country, as is highly automated agriculture and livestock production. 100% of Paraguay's electricity is produced using hydroelectricity, making it one of the cleanest in the world.
The Paraguayan economy is small and open, as well as heavily dependent on agricultural production and foreign trade, particularly soybean and beef, which comprise nearly 40% of all exports.
Between 1970 and 2013, the country had the highest economic growth of South America, with an average rate of 7,2% per year. In 2010 and 2013, Paraguay experienced the greatest economic expansion of South America, with a GDP growth rate of 13,1% and 13,6%, respectively. In 2020, economic growth is expected to reach 6,3%.
This constant increase is attributable to a debt/GDP ratio equal to 20,0%, one of the lowest in the world. Furthermore, in 2017 inflation in Paraguay was only 3,6%, one of the lowest in the area.
Paraguay offers interesting investment opportunities in every sector, particularly in agriculture, trade, and industry, companies are very dynamic and resourceful, and its population is very young: 70% are under 35 years old and 2017 unemployment rate is only 4,61%.
International reserves continue at historically high levels, totaling more than US $6,6 billion. The exchange rate of the national currency, the Guarani, has remained stable in recent years.
Paraguay is the fourth-largest soybean producer in the world, second-largest producer of stevia, sixth-largest exporter of corn, tenth-largest exporter of wheat, and sixth-largest exporter of beef.
The mineral industry of Paraguay produces about 25% of the country's gross domestic product (GDP) and employs about 31% of the labor force. Production of cement, iron ore, and steel occurs commonly throughout Paraguay's industrial sector.
In the pharmaceutical industry, Paraguayan companies now meet 70% of domestic consumption and have begun to export drugs. Strong growth is also evident in the production of edible oils, garments, organic sugar, meat processing, and steel.
The country also boasts the third most important free commercial zone in the world: Ciudad del Este, only trailing behind Miami and Hong Kong.
The economy has grown rapidly as world demand for commodities combined with high prices and favorable weather continue to support Paraguay's commodity-based export expansion.
Population: 7.152.703
Total area: 406.752 km2 (157.048 sq mi)
GDP: Total $ 101.075 billion, per capita $ 14.131
Currency: Guaraní (PYG)
Official languages: Spanish and Guaraní
Religion: 89% Roman Catholic, 5% Protestant, 6% Other
Government: Unitary dominant-party presidential republic
President: Mario Abdo Benítez
Independence: 15 May 1811 (from Spain)
Capital and largest city: Asunción
Climate: tropical to subtropical
Paraguay’s immigration policy is considered liberal. A permanent residence permit can be obtained immediately. It is one of the only countries where you can receive permanent residency very easily without being required to move there or reside there or visit the country previously. And after three years, you will be eligible to apply for Paraguayan citizenship.
Paraguay has always had low or no taxes and is on par with tax haven countries like Dubai, Panama, and Monaco. Paraguay offers exceptional tax benefits: you don’t pay tax if your business is abroad as offshore revenues and dividends are not taxable. The corporation tax is 10% and also the VAT for the majority of goods and services is 10% or less.
Paraguay is one of the founding states of Mercosur (Southern Common Market) and having obtained Paraguayan permanent residency and an identity card, it is easier to travel and access the market and investment opportunities of the other Member States of Mercosur (Brazil, Argentina, Uruguay, Bolivia, Venezuela, Chile, Colombia, Ecuador, and Peru).
Foreign permanent residents of Paraguay can acquire various types of licenses and authorizations for various activities and also residence permits in the neighboring Mercosur countries with much simpler procedures. Moreover, in Mercosur there are very interesting tax breaks for permanent residents in member states.
For most of its history, Paraguay has been a recipient of immigrants, owing to its low population density, especially after the demographic collapse that resulted from the Paraguayan War. Around 40% of the total Paraguayan population has some Italian ancestry. Also, Paraguay has the most prominent German community in South America, with 7% of the population claiming German ancestry. It’s no secret that personal and economic freedoms are disappearing in many countries. But this is different in Paraguay, it’s the land of freedom and opportunity!
Interested in expanding your company into Paraguay’s market?
Wanting to obtain a permanent residence permit in Paraguay or a second citizenship?
Searching for legal help in launching a business?
Even if the legal framework of Paraguay is apparently simple, it is often difficult for the those who are not Paraguayan to understand the system because of its bureaucracy.
It is highly advisable to get competent help to avoid unnecessary travel and expense.
One of the goals of the Chamber for International Trade & Industry is to facilitate those interested in investing in Paraguay, desiring to create a company, desiring to become Paraguayan residents, getting advantage from the many advantages that Paraguayan law offers (incentives for foreign investors, tax exemption, etc.)
We can even help those who desire to acquire Paraguayan citizenship both as a second passport or desiring to retire in South America or looking to travel worldwide with a highly accepted passport (Visa Free to enter Russia, European Union, UK, UAE, and 132 other countries).
If this is your goal, let us advise you before you hire a lawyer or another Paraguayan professional.
We offer a reliable and fast service with Swiss precision since the chamber is in fact the unique entity partnering with a Swiss multinational consulting company. Our partners offer the possibility to meet us in Switzerland and get a complete overview before even coming to Paraguay.
Residency
Obtaining residency in Paraguay, with local ID, International Driver’s License, and with all the fiscal tax benefit (0% income tax for revenues from abroad)
Citizenship
Obtaining a second Citizenship in Paraguay (According to the Global Passport Power Rank, Paraguay's passport is the 27th best in the world and Visa Free in 132 countries)
Banking
Opening current bank accounts in Paraguayan primary banks (Paraguay hasn’t signed the CRS "Common reporting standard" agreement of automatic exchange of banking information, so your accounts will remain secret)
Company
Creation of a limited company in Paraguay (tax benefit: corporate tax 10% for local income and 0% for business abroad)
Consulting
Consulting to help you expand your business in Paraguay
Consulting on high economic return investments in Paraguay (also over 20%)
Trademark
Trademark and international patent registrations (with 0% taxes for offshore royalties)
prepared by the Paraguay Ministry of Industry and Commerce
If you would like more information about our projects and services, want to become a member of the Chamber for International Trade & Industry of Paraguay, or are interested in collaborating with us, please don't hesitate to contact us.
Fill out the form on this page and one of our representatives will get in contact with you. Our multilingual staff is at your disposal, ready to deliver you the best possible service with courtesy and professionalism.
Our representative offices are in Paraguay and Switzerland. Through our network of consultants, lawyers, and Honorary Consuls, we have representatives in the major international capitals.
