Business accounts: Paraguay

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A business account in Paraguay is opened for a company registered in the country, or for a foreign company with a branch and a tax number in Paraguay. The bank checks the owners, directors and source of funds and asks what the company will do in the country. How business works in Paraguay and which company forms exist is covered in our article on doing business in Paraguay.

Paraguayan banks and supervision

Paraguay's banking system is overseen by the Central Bank of Paraguay through its Superintendency of Banks, which licenses banks and finance companies and inspects them. The country has large local banks, banks belonging to international groups and finance companies. Accounts are opened in guaraníes and US dollars: dollars are widely used for property deals, savings and foreign trade.

Deposit guarantee

The Deposit Guarantee Fund, created by Law 2334 of 12 December 2003, protects deposits of individuals and companies, residents and non-residents, in guaraníes and foreign currency. The guarantee is up to 75 monthly minimum wages per depositor at each bank. From 1 July 2026 the minimum wage is PYG 3,044,000, so the guarantee is PYG 228,300,000, about $38,869 at the Central Bank of Paraguay rate of early October 2026, about PYG 5,874 per dollar. All of a person's accounts at one bank are added together and debts to the bank are deducted.

Company taxes

A Paraguayan company pays 10% corporate income tax and value added tax at the general rate of 10%. The company's tax number is issued by the National Directorate of Tax Revenue, and the bank will not open an account without it.

What to prepare before the bank visit

Paraguayan banks check whether the company has real activity in the country, so for the account you prepare contracts with clients or suppliers, an operating plan for the first year and expected volumes. If the company is just being formed, we first register it and obtain the tax number, then apply to the bank.

What the bank will check

• the company's registration and registry extract in Paraguay, the list of directors and owners;
• passports and proof of address of directors and beneficial owners;
• what the company does, who its clients are and how the business is linked to the country;
• expected volumes, currencies and payment countries;
• source of funds documents for the owners.

How opening works

1. Profile review and choosing a bank that works with such structures.
2. The document file and business description tailored to the bank.
3. The bank's review, often with a video call or a director's visit.
4. Account opening and online banking setup.

Dividends and money for owners

When a company pays dividends, it withholds tax: 8% for owners resident in Paraguay and 15% for non-residents. Together with the 10% corporate income tax, the total burden is about 17.2% for a resident owner and about 23.5% for a non-resident. Paraguay has no currency controls, so dividends in dollars can be transferred abroad if the bank sees the profit distribution resolution and proof of tax payment.

What we do

Murblz specialists assess the chances before applying, choose a bank in Paraguay, prepare the documents and business description and handle the correspondence with the bank until it decides. We handle company registration in Paraguay together with the account. The quote is fixed in writing; the decision to open the account is always the bank's.

Who gets refused

A bank will refuse if the source of funds cannot be documented, if the client or their money is linked to sanctions restrictions, or if the purpose of the account does not match the expected payments. We check whether a case involving Russian citizens can proceed before any documents are prepared.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

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