An Outlined Procedure of Company Registration in Paraguay That You Need to Know to Get Started
Both locals and foreigners alike can now be part of the process of company registration in Paraguay. Therefore, everything they need to make sure is that they have all the documents validated. Then, the process begins by first validating your proposed company names with authority. The name should be distinct and possess some element of social motivation. Also, for you to proceed on you must ensure that you have prepared your incorporation deed.
Within this deed is the company’s by-laws/constitution elaborating each of the partner(s), the activities of the company, the capital formation and the Articles of Association. So, you must ensure that you certify the documents through a licensed Public Notary. Again, you must register all your books of accounts with the companies’ registry along with the Treasury Attorney Office. The law requires that the documents submitted at the single access window (SUAE) as part of the process. It takes 20 working days. You can eventually get a grant of the taxpayer’s registry number once you complete the application at the Ministry of Finance.
Company Registration in Paraguay Leads to Business Formation
You can get more clarity on company incorporation when you visit 3E Accounting service provider. A leading corporate service provider in Singapore and domicile in Paraguay, you stand to benefit from an assortment of services from:
- Business/enterprise setup
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You’ll only benefit from these services once you contact their lines or visit their premises.
Company registration in Paraguay requires that you register with the Tax Authority where you’ll receive the Tax Identification Number (TIN) after an online application. The validity of the TIN is to enable you to do your monthly tax obligations.
Should you decide to set up a Corporation in Paraguay which is known as Sociedad Anonima (S.A), you need to have a minimum of two (2) shareholders. One shareholder is a domicile of Paraguay. Again, the Corporation should have the initials S.A within your company’s name. They require you to pay a minimum capital of only US$1 and in case you have an export-based company, you’re eligible to pay up a minimum of $10,000. For a Limited Liability Company (LLC) or Sociedad de Responsibilad Limitada (SRL) they require you to have at least two (2) shareholders where one must be a domicile of Paraguay. In this type of legal entity, there is no minimum capital required.
How We Can Help
According to the Employment Act, employers need to register with relevant workers and labor Institutions. And, therefore, you must register your company with the Social Security Institute and the Ministry of Justice and Labor.
As part of company registration in Paraguay securing a corporate bank account separate from your personal account is important. Additionally, each company must ensure that it operates with a business license and a registered office. You can submit the relevant documents at the Chamber of Commerce for application of business license or the municipality of your business jurisdiction.