Finding a good corporate attorney in Paraguay is essential if you are planning on doing business in this low-tax South American country of more than seven million people.
Because while the country offers a business-friendly environment, you will still benefit from having a reliable lawyer on hand to guarantee that your affairs are handled in an efficient manner that is fully compliant with local regulations.
While you may wish to seek legal counsel from a dedicated corporate law firm, a popular option among foreign investors is to hire the services of a provider capable of offering a broader range of commercial support and back-office services, allowing for all legal, accounting, and recruitment needs to be met via a single services agreement.
See also: Hire Staff Through an Employer of Record in Paraguay
If you are looking for a corporate attorney in Paraguay, read on to understand what to expect from a good lawyer and key considerations for finding one, as well as getting some insight into what makes the Paraguayan market attractive for doing business.
What to expect from a good attorney in Paraguay
Among the key advantages you will enjoy from working with a reliable attorney in Paraguay are:
Intellectual property: Your legal counsel in Paraguay will have the experience and know-how to protect your intellectual property, be that a brand or product, thereby guaranteeing your competitive position in the market.
Tailored advice: Your attorney in Paraguay should have the specialist knowledge to be able to effectively deal with your individual commercial needs, offering tailored advice based on up-to-date knowledge of relevant areas of the legal code, as well as helping you identify the right type of entity to establish.
Language skills: If you don’t speak Spanish or Guaraní, the two official and most prevalent languages in Paraguay, you will want to hire legal counsel with a firm grasp of English to support you.
Business connections: An attorney in Paraguay with an established presence in the market will have an extended network of professional connections that could prove useful to your business interests.
Guaranteed compliance: When you hire an attorney in Paraguay with a strong track record in the market, you guarantee that your operations will remain fully compliant with local laws and norms, meaning you don’t have to worry about legal inconveniences or financial penalties.
Considerations for finding the right attorney in Paraguay
When seeking an attorney in Paraguay, you should take the following into account:
Academic background: Depending on the nature of your business, you will want to find a lawyer with adequate training to meet your needs, be that specialist knowledge of a particular area of law, or proven academic focus on specific legal processes that you require.
Relevant experience: Your attorney in Paraguay should have a proven track record of forming the type of entity you are looking to establish, and will ideally have previously worked with foreign investors entering the Paraguayan market.
Professional reputation: While having notable experience and relevant training will likely guarantee that your legal counsel in Paraguay has a good reputation, it still pays to do some research into their standing in the local legal and business community, which can be done by seeking out reviews and feedback related to their past work.
Doing business in Paraguay
While Paraguay is not generally the first country investors think of when looking to enter Latin America to do business, the country has experienced significant economic growth over recent years, and its economy has been described as “solid” by the World Bank.
While the COVID-19 pandemic has hit the South American nation’s economy, it is expected to recover quickly and witness 4% growth in 2021. Speaking in September 2020, Paraguay’s then-Minister of Finance Benigno López highlighted how the country would be seeking to bolster post-pandemic recovery by offering low taxes, tax exemptions, and a streamlined migration and residency to foreign investors, which your attorney in Paraguay will be able to help you take advantage of.
The country is home to various free trade zones (FTZs) located near Ciudad del Este, in the Argentina-Brazil-Paraguay tri-border area, and offering attractive tax benefits to foreign investors. Meanwhile, ongoing talks for a free trade agreement (FTA) with Chile are set to produce the country’s first bilateral FTA, with its membership to the Southern Common Market (Mercosur) previously providing preferential access to key markets.
Paraguay is landlocked, so a significant proportion of goods arrive by land, however the country also has a number of important inland ports, with the largest being the industrial city of Villeta — around 35 km south of capital Asuncion. The country’s main export commodities include soybeans and related products, and beef, with Argentina, Brazil, India, and Russia the main destinations for goods.
Biz Latin Hub can provide you with a corporate attorney in Paraguay
At Biz Latin Hub, our team of multilingual corporate legal services specialists is equipped to support you when entering and doing business in the Paraguayan market. With our full suite of corporate support and back-office solutions, we can be your single point of contact for entering and doing business in Paraguay, or any of the other 17 jurisdictions around Latin America and the Caribbean where we are present.
Reach out to us now for a consultation or free quote.
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