My Argentina & Paraguay Setup.
My one week in Asunción to obtain Paraguay Residency and a Tax Number. Honestly, get in quick, here is why.
This morning I listened to a recent Doug Casey interview on The Nomad Capitalist:
“Flee the USA for freedom in Argentina.”
Doug Casey uses the Argentina and Uruguay setup as his bases.
If you’re worth over $100M like Doug, splitting time between Argentina and Uruguay to minimise taxes is a great combination.
Doug is the OG of geoarbitrage and internationalism - he’s an inspiration, no doubt, but not exactly relatable for most people like me (and maybe you).
If, like me, you want to break free from the high taxes of your home country, the Argentina and Uruguay (expensive) setup might not be a realistic option.
And if (like me) you’re a peasant waiting on portfolio catalysts, day trading, trading options, or even crypto, a more realistic solution is the Argentina and Paraguay arrangement (in my view).
After visiting the Paraguayan capital of Asunción and experiencing it firsthand, I can confirm that the people hyping residency here were spot on - no exaggeration. The quality of life in the affluent part of town genuinely surprised me!
Asunción, Paraguay 🇵🇾
A quick rundown.
I’ve followed the residency sales pitch Twitter accounts for years, always sceptical, knowing the people promoting it have a financial incentive. But after spending a week in Asunción’s most affluent bubble with my best mate
, I have to admit - it exceeded my expectations.I haven’t spent enough time there to dive deeper, but I recommend following some expat Twitter accounts based in Asunción. After my short visit, I now realise they’re not full of shit and do offer some great insights and value.
Here’s what stood out to me in my one week in Asunción:
Prices are in USD*
Geoarbitrage tops my list (I know this irritates some people, but at my net worth, it still matters) - Cheap, everything!
Quality steak – Lo de Osvaldo ($15 steaks), Patria Parrilla ($12 steaks), and O’Gaucho ($25 all-you-can-eat steak).
Well-equipped gyms – brand new and super chill ($40, expensive, for a weekly pass).
Great supermarkets – all the perks of the free market (among the best I’ve seen globally) – Superseis and Casa Rica.
Casa Rica - Asunción. It’s beautiful, especially coming from Argentina. Easy transportation – Uber and Bolt rides for just $1-3 USD anywhere in the city.
Shopping – Go to Shopping del Sol in Asunción! Paraguay is the only country I’ve seen in South America with low taxes on imported goods and great shopping.
I bought a new iPhone cheaper than in Australia (which usually has reasonable prices for electronics) – and that was without even visiting Ciudad del Este - Paraguay’s duty-free city on the border with Brazil.
It was also refreshing to see the fruits of the free market in action - such a stark contrast to socialist Argentina.
Why Paraguay?
The main reason for my visit was to secure a Paraguay Temporary Residency and with that, I can apply for the Paraguayan Tax ID (RUC). This is my first step toward breaking tax ties with Australia and diversifying my international residency options: