Moving to Paraguay in 2024 - Paraguay Tax Residency (David's Experience)

Moving to Paraguay in 2024 (David's Experience)
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Paraguay's tax residency is one of the main reasons why digital nomads see Paraguay as a plan B.
Paraguay is a small landlocked country in South America.
Today David talks about his experience leaving Canada, renouncing Canadian tax residency and establishing Paraguay tax residency.
Whether you want a second residency in Latin America, or eliminate your tax burden, Paraguay is a country worth considering.
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[@gregducati999]

i have paraguayan residency, if you value low taxes and freedom you cant beat it, if your want efficient services its not the place to go, its for super independent minded people,

[@NomadElite]

Service efficiency will improve over time as more western expats move to Paraguay to establish businesses.

[@radidov5333]

but westerns are who ruined the world..what makes you think that you and everyone moving here will be better? @@NomadElite

[@vlaskamagija4544]

Hi Greg, if I make money from stocks, and let's say that I have the tax residency in Paraguay, do I pay zero taxes on that?

[@bobg6884]

@@vlaskamagija4544 My understanding is as long as you're making money outside of Paraguay and bring it in, you do Not pay any tax on that income. If you are making the money in Paraguy, you pay 10% tax on that. Someone can correct me if I'm mistaken.

[@Eliasrs-iw9hk]

​@@vlaskamagija4544La Ley señala como requisito que los ingresos deben producirse en territorio de la República, es decir, que si un ingreso proviene de alguna actividad que se desarrolló fuera del Paraguay, este estaría libre del Impuesto a la Renta Personal.

[@alienonu5479]

Perfect !

[@henry-5676]

Sounds good, will visit soon. Greetings from Thailand

[@NomadElite]

You're welcome here man. We would love to help you get residency in Paraguay.

[@Learned333]

The housing situation is similar in the U.S. The Internal Revenue Service (IRS) gives full time foreign expats the Foreign Earned Income Exclusion of $120,000 per year of personal income or business income exemption. However, if you still own a primary house in the U.S. it must be rented out to someone in order to qualify for the exclusion. And that someone cannot be an immediate family member. So if a U.S. expat is having issues renting their house, they can put their exclusion in jeopardy. You'll have to also check to see if there are any countries that are excluded from receiving the Foreign Earned Income Exclusion per the IRS.

[@kevinstrong7520]

100% true well stated!

[@NomadElite]

Subscribe to our newsletter to learn more about living in Paraguay.

[@user-wt5jc6nb9b]

sounds great 🇵🇾😂👍👍👍👍⭐⭐⭐⭐

[@NomadElite]

:)

[@charliefenix8096]

😂😂😂its really hot here… the humidity is disgusting…with no beaches..

[@Eliasrs-iw9hk]

🏳️‍🌈💅🤨??

[@Adnancorner]

do you have a lawyer service for this ? I am not from the western countries but I would like to apply for the residence in Paraguay.

[@NomadElite]

Yes, we do. Please send me an email.

[@randallgoulet1550]

Is it easier to go to Paraguay and file for residency there?

[@NomadElite]

Please get in touch with us, and we will assist you with your residency application.

[@kippsguitar6539]

Temperature always beautiful? I studied Spanish in Paraguay and I can tell you it's incredibly hot in summer, and I have lived in the tropics most of my life, crazy hot, lovely people, he said yes from Canada but his English isn't native by any means, I don't get that, Quebecois maybe but David Lambert? Makes no sense

[@NomadElite]

David is French-Canadian, he grew up in Quebec. Beauty is in the eye of the beholder, right. Some people might not mind the oven baking temperatures during the summer.

[@whatsonwithraihusnain7772]

R u a lawyer or consultant
I need some one who can help me

[@NomadElite]

I'm a relocation consultant and the CEO of Nomad Elite. Please feel free to book a consultation with me using this link: calendly.com/nomadelite

[@Learned333]

Coming from NE Florida, the temperature is milder in Paraguay. The summers are cooler and the winters are warmer. 95F (35C) is not crazy hot to me. You acclimate.

[@kippsguitar6539]

​@@NomadEliteCorrect beauty IS indeed in the eye of the beholder, however I was talking about the scientific fact that Paraguay is extremely hot,it's already in the 40s and not even summer yet, that's a fact not opinion, sorry but I did guessed your guest was Québécois as I Said, it's difficult to understand their french and English to be honest, Paraguay is a wonderful country despite its brutal climate and a gem for a temporary residence and best people I met in Latin America, just my opinion