Travel Guide

Paraguay Passport Opportunities in a Little Known Tax Haven

Paraguay Passport: If I told you about a de facto tax haven with a liberal constitution where you can buy land for $25 per acre, where you could have made 25% return on a simple bank account in the last year due to currency appreciation against the dollar, and where you can probably qualify for a second passport with visa-free travel to Europe in as little as three years… would I have your attention?

I thought so. I’m probably even more excited than you are about this country, which I first ‘discovered’ in 2003 and I have returned to many times since. You might be surprised when I tell you what country I’m talking about, but here goes anyway. It’s the Republic of Paraguay, in South America.

Paraguayans fondly describe their country, in fact, as the heart of South America. Their neighbours in Brazil and Argentina, however, have frequently used less flattering corporal analogies when referring to this small (by South American standards), little-known landlocked country.

But that attitude is changing… and fast! August 15th this year saw the swearing in of new Paraguayan President Lugo. A former Catholic archbishop, now ex-communicated (whatever you may like to deduce from that). The point is the change that is coming. More and more smart investors in just those neighboring countries – Brazil, Argentina and Uruguay – are profiting from the head start they have simply from being nearby and understanding the regional situation. Paraguay in late 2008 looks increasingly attractive as a place to live and do business.

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