How to open a bank account in Paraguay as a foreigner

Opening a bank account in Paraguay is a common step for foreign investors. Here are the essentials, per the official Investment Guide (REDIEX, 2025).

The banks

Paraguay has 17 banks. Each sets its own requirements based on its risk policy, so the list is indicative and can vary from bank to bank.

The key point for foreigners

To open an account for a foreign-owned company, it is advisable that the legal representative holds permanent residency and a Paraguayan national ID. If you do not, you can operate through a Paraguayan legal representative or a foreigner with residency. That is why the usual order is: residency → national ID → bank account.

The fast route: E.A.S. online

If you set up a Simplified Joint-Stock Company (E.A.S.), SUACE lets you open the bank account online as part of the same digital process — with no extra in-person steps.

Documents usually requested

• Identification of the company and its representatives (bank form).
• Company incorporation and registration documents.
• Legal representative's national ID.
• Signature record and service contract (signed at the bank).

Each bank may request additional documentation based on its due-diligence review.

And to buy an apartment?

To invest in an apartment you do not always need a local account: many deals are paid in dollars directly with the developer. A bank account matters more if you will run a business or collect rent locally.

We guide you

At Rootgold Realty we guide you through the full process — purchase, payment, and who to turn to for banking and legal steps. Get in touch.

Informational guide based on official sources (REDIEX, 2025). Requirements vary by bank and may change; confirm with the institution and professional advisors.