Steuern in Paraguay für Investoren
Steuern in Paraguay
EU-Mercosur for European Companies
What the agreement changes, where the opportunities are and why Paraguay deserves a closer look
Paraguay’s Iguazú AI City plan puts power supply at the centre of a US$12bn ambition
Paraguay’s Iguazú AI City plan puts power supply at the centre of a US$12bn ambition Araico is pitching a hyperscale computing campus in Yguazú. The headline figure remains a project ambition; near-term execution turns on a signed electricity agreement, staged financing and confirmed customers. NEWS | 5 OCTOBER 2026 Araico has presented Iguazú AI City, a planned data-centre campus in Yguazú, Alto Paraná, with a headline investment ambition of US$12 billion. The developer’s website describes a 1.3 GW flagship platform; Araico director Alejandro Zuccolillo told ABC Color that the first three phases would require about 280 MW. These are different measures: the larger figure is a long-term campus concept, while 280 MW refers to the initial development plan reported by the company. The proposed rollout is staged. According to the 30 September interview, a first 6 MW phase is targeted for December 2026, followed by two phases of roughly 130 MW each, expected in 2028 and 2029. The company said the first phase would involve US$300 million, while later phases would require substantially more capital. These remain announced targets rather than completed investment or operating capacity. Electricity is the immediate gating issue. Araico said negotiations with the state utility ANDE were advanced and that a long-term supply contract was ready for signature, with an initial price of US$45/MWh and annual adjustment. The report also records that ANDE had said no tariff category existed specifically for this kind of AI data-centre load. As of that reporting, the agreement had not been signed. The proposed price, adjustment formula and timetable should therefore be treated as company statements, not settled tariff terms. If delivered, the campus could convert Paraguay’s renewable-power advantage into exportable computing services and demand for construction, fibre, cooling, electrical engineering and professional services. For investors, however, the investment headline is only the starting point. The meaningful milestones are a binding power agreement, committed financing for each phase, grid readiness, permits, equipment procurement and customer contracts. Araico identifies global compute demand as its target, but public confirmation of contracted workloads will matter as much as the campus design. The useful follow-up for Paraguay Business Hub is a “what must happen next” brief: distinguish the proposed 1.3 GW platform from the first 280 MW of planned demand, track ANDE’s formal tariff decision, and test each phase against financing and customer evidence. That framing lets readers assess the opportunity without treating a large announced figure as capital already deployed. Sources Araico — Iguazu AI Campus platform (company project description) ABC Color — Araico says ANDE power contract for AI centre is imminent (30 Sep. 2026) Intelligent CIO LATAM — Paraguay’s US$12bn Iguazú AI City targets AI infrastructure (5 Oct. 2026) © Paraguay Business Hub. Original reporting and analysis based on the sources linked above. The project figures and schedules attributed to Araico or its representatives are stated plans and remain subject to execution.
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Costa Group starts pork processing in Paraguay’s Canindeyú
Costa Group starts pork processing in Paraguay’s Canindeyú The Spanish company has opened a Katueté plant processing about 200 hogs a day, with larger stages planned. Its strategic test is whether local grain and livestock can support a deeper export-oriented value chain. NEWS | 5 OCTOBER 2026 Costa Group has begun operating a pork-processing plant in Katueté, in Paraguay’s Canindeyú department. The 25-hectare site is starting at roughly 200 hogs per day, according to the Ministry of Industry and Commerce (MIC). The company’s stated expansion path is 2,000 animals a day, followed by a potential 5,000. The facility currently employs about 200 people; the target communicated by the government is around 600 by year-end. The project’s commercial logic is broader than slaughter capacity. Paraguay’s maize can be converted into animal protein and processed products close to the agricultural base. Costa owner Jordi Costa said the plan includes progressively adding higher-value lines such as ham, salami, cooked sausages, bacon and smoked meats. The company sees scope in both the domestic market and exports. Taiwan was cited as an opportunity, but the announcement does not establish that market access or export approvals have already been secured. For investors, the site is a useful case study in locating processing beyond the capital: proximity to inputs may be attractive, while reliable transport, utilities, workforce development, sanitary approvals and supplier depth remain decisive. The announced capacity figures describe future stages, not current throughput. Their delivery will depend on capital deployment and on expanding the surrounding hog-production ecosystem. The next indicators are measurable: whether hiring approaches the stated target, when plant throughput rises, which processed lines are commissioned, and which export destinations receive formal approval. The story also lends itself to a practical Paraguay Business Hub explainer on the steps behind an agro-industrial investment—from site selection and permits to local sourcing and export readiness. Sources Paraguay Ministry of Industry and Commerce — Costa Group begins pork operations in Canindeyú (2 Oct. 2026) © Paraguay Business Hub. Original editorial content based on the linked source. Future capacity, employment and market access are company or government targets and remain subject to implementation.
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Paraguay Treasury Bond Demand Rises as Local-Currency Yields Fall
Paraguay Treasury Bond Demand Rises as Local-Currency Yields Fall Paraguay’s September Treasury auction drew almost four times the amount ultimately placed, while yields on the 2030 and 2035 bonds fell again. The result adds to a broader 2026 trend: deeper demand for guaraní-denominated sovereign debt, longer maturities and a gradual reduction in the State’s exposure to foreign-currency borrowing. 3 October 2026 Paraguay’s domestic bond market delivered another strong signal in September. The Ministry of Economy and Finance (MEF) received total demand of PYG 906 billion in its fourth Treasury bond auction of 2026, while awarding PYG 230.5 billion. Demand was therefore about 3.9 times the amount placed, according to the Ministry. The transaction was carried out through the Asunción Stock Exchange and reopened two existing Treasury series maturing in 2030 and 2035. Yields move lower across the curve The 2030 bond was awarded at a yield of 8.26%, while the 2035 bond cleared at 8.70%. Both levels were below those recorded in the July auction: the 2030 yield fell by 24 basis points and the 2035 yield by 30 basis points. The direction is also clear when compared with June, when equivalent maturities were placed at 8.60% and 9.10%, respectively. For the Treasury, lower yields reduce the cost of funding in domestic currency. For the market, the more important point is the combination of falling yields and strong excess demand. A sovereign yield curve with recurring auctions provides a reference price for banks, pension investors, corporate issuers and other fixed-income instruments. Paraguay’s local capital market remains small by regional standards, but repeated Treasury issuance is gradually creating a broader set of benchmark maturities. Local-currency borrowing is becoming more important The September auction forms part of a deliberate strategy to increase the share of public debt denominated in guaraníes. That strategy has also been taken to international markets. In February 2026, Paraguay issued PYG 6.507 trillion of global bonds – approximately USD 1 billion at the transaction exchange rate – with a 12-year maturity and an 8.5% coupon. The deal attracted 64 international investors and demand equivalent to around 1.5 times the amount offered. The same transaction included a USD 300 million reopening of Paraguay’s 2055 dollar bond, for which demand reached USD 1.89 billion. The two tranches illustrate the country’s dual funding approach: maintaining access to long-dated US-dollar debt while developing a larger investor base for guaraní-denominated instruments. Credit ratings support the market backdrop Paraguay now holds investment-grade ratings from Moody’s and S&P, while Fitch on 30 September reaffirmed its BB+ rating with a positive outlook. Fitch highlighted prudent macroeconomic policies, low public debt and strong external liquidity, while also noting the gradual reduction in the share of public debt denominated in foreign currency. Moody’s had reaffirmed its Baa3 investment-grade rating with a stable outlook in July. Ratings do not determine bond prices on their own. Domestic inflation, the policy rate, liquidity, global interest rates and expectations for the guaraní all affect yields. Foreign investors in local-currency debt also assume exchange-rate risk: an 8% or 9% nominal yield in guaraníes cannot be compared directly with the yield on a US-dollar bond without considering currency movements. A deeper sovereign market can support private issuers The significance of the September auction therefore goes beyond the PYG 230.5 billion raised. A more liquid government bond market can help establish pricing references for corporate debt and improve the infrastructure through which institutional savings are channelled into longer-term securities. The MEF has one more domestic Treasury auction scheduled for 28 October 2026. If demand remains strong and yields continue to stabilise, Paraguay will finish the year with a materially more developed local-currency sovereign curve than it had at the start of 2026. Sources Ministry of Economy and Finance – September 2026 Treasury bond auction results Ministry of Economy and Finance – February 2026 global bond issuance in guaraníes and US dollars Ministry of Economy and Finance – Fitch Ratings review of Paraguay, 30 September 2026 Ministry of Economy and Finance – Bond programme and 2026 domestic auction calendar © 2026 Paraguay Business Hub. All rights reserved.
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Paraguay’s Maquila Exports Pass USD 1 Billion as Manufacturing Accelerates
Paraguay’s Maquila Exports Pass USD 1 Billion as Manufacturing Accelerates Exports under Paraguay’s Maquila regime reached USD 1.01 billion in the first eight months of 2026, up 26% year on year. The result highlights the growing weight of export-oriented manufacturing in the economy, with auto parts, garments, beverages and aluminium leading the expansion. 3 October 2026 Paraguay’s Maquila industries exported USD 1.01 billion between January and August 2026, compared with USD 801 million in the same period of 2025, according to the Ministry of Industry and Commerce (MIC). August alone generated USD 150 million in shipments, taking the accumulated total above USD 1 billion for the first time at this point in the year. Export growth broadens the manufacturing base Auto parts, garments and textiles, alcoholic beverages and aluminium products accounted for 70% of Maquila exports through August. The export basket also included chemicals and pharmaceuticals, plastics, food products and other manufactured goods, showing a broader industrial base than the traditional image of Paraguay as primarily an agricultural exporter. The sector’s geographic concentration remains high. Around 90% of companies with approved Maquila programmes are located in Alto Paraná, Central, Asunción and Amambay, areas that combine access to labour, logistics and the Brazilian and Argentine markets. Mercosur remains the main destination Mercosur absorbed 77% of Maquila exports during the period, with Brazil and Argentina as the principal destinations. Paraguayan manufacturers also shipped to the Netherlands, the United States, Chile and Uruguay. The figures underline both the importance of regional integration and the still limited diversification of final markets outside South America. Employment and the trade balance are expanding The MIC estimates that the regime now supports close to 40,000 jobs. Seventy per cent of employment is concentrated in garments, auto parts, intangible services, plastics and chemical-pharmaceutical activities. The regime has therefore become relevant not only for exports, but also for formal industrial employment. The trade balance of the sector is also strongly positive. Maquila companies imported USD 529 million of inputs and equipment through August, 17% more than a year earlier, while exports reached USD 1.01 billion. Exports were therefore 91% higher than imports, reflecting the transformation of imported inputs into goods and services for foreign markets. A modernised framework for new investment The expansion is taking place under the updated Maquila framework established by Law 7,547/2025 and regulated in 2026. The regime applies a 1% single tax on Paraguayan value added or the export invoice value, whichever is higher, together with customs and tax benefits for qualifying operations. The new framework also clarifies operating modalities and procedures, giving investors a more defined structure for export manufacturing and services. Maquila already accounted for 69% of Paraguay’s exports of industrial manufactures at the end of 2025. If current growth continues, the regime will remain one of the country’s main channels for converting competitive operating costs, access to Mercosur and imported inputs into higher-value exports. Sources Ministry of Industry and Commerce – Maquila exports grow more than 25% through August 2026 Ministry of Industry and Commerce – Maquila regime and Law 7,547/2025 Ministry of Industry and Commerce – Main changes under the new Maquila Law © 2026 Paraguay Business Hub. All rights reserved.
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Paraguay Moves Investor Pass from Launch to Implementation
Paraguay Moves Investor Pass from Launch to Implementation A July cooperation agreement between the Ministry of Industry and Commerce and the National Directorate of Migration gives the Investor Pass an operational framework aimed at simplifying investor residence and company establishment procedures. 3 October 2026 Paraguay is moving the Investor Pass beyond its initial launch and into a more operational phase. The programme, introduced under MIC Resolution No. 283/2026, allows qualifying foreign investors to apply directly for permanent residence through several investment routes rather than first obtaining temporary residence. MIC and Migration formalise cooperation On 3 July 2026, the Ministry of Industry and Commerce (MIC) and the National Directorate of Migration signed a three-year cooperation framework specifically aimed at facilitating and accelerating the residence process for investors. The agreement calls for coordinated procedures and, where possible, the use of digital tools to simplify the steps connected with company formation and establishment in Paraguay. The agreement is important because the Investor Pass sits across two administrative systems. MIC, through SUACE, issues the Foreign Investor Certificate (CIE), while Migration is responsible for the residence permit. Closer coordination is therefore necessary if the programme is to deliver a genuinely faster investor-entry process rather than simply creating additional investment categories. Four investment routes are now available The current framework recognises four routes. Productive investments in industry, commerce or services start at USD 70,000 and require a business plan and at least five formal jobs. Financial investments start at USD 200,000 and must be maintained for at least two years. Real-estate investments also start at USD 200,000 but must be linked to an economic activity rather than personal or family use. Tourism projects have a USD 150,000 threshold and require a business plan and technical monitoring. The diversification matters because the previous model was primarily designed around an operating business and job creation. The financial and real-estate routes allow investors whose economic contribution does not immediately take the form of payroll to qualify under separate conditions. Permanent residence still requires compliance checks The Investor Pass does not make residence automatic. Applicants must document the qualifying investment and complete the relevant CIE and migration procedures. The framework preserves criminal-record checks, declarations concerning the origin of funds, anti-money-laundering controls and monitoring of the investment commitment. For foreign investors, the practical significance is therefore not only the lower or differentiated investment thresholds. The programme creates a clearer link between investment policy, migration and business establishment. Its success will depend on how consistently the two institutions implement the new procedures and whether the promised simplification is reflected in processing times and documentary requirements. Sources Ministry of Industry and Commerce — Paraguay strengthens foreign investment attraction with the new Investor Pass National Directorate of Migration — Paraguay Investor Pass launch National Directorate of Migration — MIC–DNM cooperation agreement of 3 July 2026 Ministry of Industry and Commerce / SUACE — Foreign Investor Certificate procedure © 2026 Paraguay Business Hub. All rights reserved.
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