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Countries

	Bulgaria Europe	Paraguay Latin America	Chile Latin America
Overview	Bulgaria is an EU member state with competitive corporate tax, structured residency routes, and a well-developed digital infrastructure. Bordercase coordinates with licensed Bulgarian partners for filings.	Paraguay offers one of the more accessible residency routes in Latin America for individuals seeking a second residence. Bordercase coordinates with licensed Paraguayan partners for filings.	Chile is a stable Latin American economy with structured residency routes, strong civil infrastructure, and growing relevance for international founders. Bordercase coordinates with licensed Chilean partners for filings.
Best for	Founders EU access Cost of living	Second residency Low day-count Cost of living Latin America	Latin America hub Stable economy Founders Families
Currency	BGN / EUR transition	PYG	CLP
Language	Bulgarian	Spanish / Guaraní	Spanish
Time zone	UTC+2	UTC-4	UTC-4
EU member	Yes	No	No
Schengen	Yes	No	No
Residency	Bulgarian residency routes: Employment-based residence Business / self-employment routes Retirement / pensioner residency Family reunification EU citizen-derivative routes Permanent residence typically after 5 years.	Paraguay residency routes: Permanent residency via proof of solvency / qualifying income - the standard route Family inclusion on the main application Physical-presence requirements are relatively low compared to other jurisdictions.	Chilean residency routes: Temporary residence - employment, retirement, or qualifying activity Investor / entrepreneur routes Family reunification Permanent residence typically after a qualifying temporary period
Company setup	OOD (LLC) and EOOD (single-shareholder LLC) are common structures. Formation is well-documented. Corporate tax is at a flat rate; VAT registration depends on activity.	SRL (Limited Liability) and SA (Joint Stock) structures are available; entity setup is well-supported by local partners. Substance and reporting requirements should be confirmed at setup.	SpA (Sociedad por Acciones), Ltda, and SA are standard structures. SII tax registration, RUT, and patent municipal registration follow.
Banking	Personal and corporate banking for residents is broadly accessible. Source-of-funds documentation matters for non-standard cases. Bordercase coordinates banking introductions.	Personal banking for residents is accessible. Bordercase coordinates introductions and documentation prep.	Residency unlocks personal banking. Corporate banking depends on activity. Bordercase coordinates introductions for cross-border cases.
Family	Family reunification is supported. Schools (public, private, English, German, French) are concentrated in Sofia, Plovdiv, and Varna.	Family inclusion on residency applications is supported. Schools (Spanish-language and limited international) are concentrated in Asunción.	Family reunification is supported. Schools (public, private, English, German, French) are concentrated in Santiago.
Risks	Risks Bordercase watches for in Bulgaria: Tax residency triggers VAT classification on cross-border services Processing variations between regions Euro adoption is in progress - operational planning needed	Risks Bordercase watches for in Paraguay: Residency vs tax residency confusion Document apostille and translation requirements must be tracked carefully Some originating countries are subject to additional scrutiny Real-world banking outside Paraguay may not change because of Paraguayan residency	Risks Bordercase watches for in Chile: Tax residency triggers and worldwide-income reporting Processing variations between regions RUT timing for non-residents
Documents	Typical Bulgarian residency documents: Passport Criminal record certificate Proof of address Basis for residence (employment, business, etc.) Health insurance Family certificates Apostilled and translated to Bulgarian.	Typical Paraguay documents: Passport Criminal record certificate (origin country + any country of residence in last 5 years) Marriage / birth certificates for family Proof of income or solvency (savings / pension / business) All documents apostilled and translated to Spanish.	Typical Chilean documents: Passport Apostilled foreign documents (birth, marriage, criminal record) Proof of income or investment Health insurance Spanish translations where required

Bulgaria

Europe

Paraguay

Latin America

Chile

Latin America

Overview

Bulgaria is an EU member state with competitive corporate tax, structured residency routes, and a well-developed digital infrastructure. Bordercase coordinates with licensed Bulgarian partners for filings.

Paraguay offers one of the more accessible residency routes in Latin America for individuals seeking a second residence. Bordercase coordinates with licensed Paraguayan partners for filings.

Chile is a stable Latin American economy with structured residency routes, strong civil infrastructure, and growing relevance for international founders. Bordercase coordinates with licensed Chilean partners for filings.

Best for

Founders
EU access
Cost of living

Second residency
Low day-count
Cost of living
Latin America

Latin America hub
Stable economy
Founders
Families

Currency

BGN / EUR transition

PYG

CLP

Language

Bulgarian

Spanish / Guaraní

Spanish

Time zone

UTC+2

UTC-4

EU member

Yes

Schengen

Yes

Residency

Bulgarian residency routes:

Employment-based residence
Business / self-employment routes
Retirement / pensioner residency
Family reunification
EU citizen-derivative routes

Permanent residence typically after 5 years.

Paraguay residency routes:

Permanent residency via proof of solvency / qualifying income - the standard route
Family inclusion on the main application

Physical-presence requirements are relatively low compared to other jurisdictions.

Chilean residency routes:

Temporary residence - employment, retirement, or qualifying activity
Investor / entrepreneur routes
Family reunification
Permanent residence typically after a qualifying temporary period

Company setup

OOD (LLC) and EOOD (single-shareholder LLC) are common structures. Formation is well-documented. Corporate tax is at a flat rate; VAT registration depends on activity.

SRL (Limited Liability) and SA (Joint Stock) structures are available; entity setup is well-supported by local partners. Substance and reporting requirements should be confirmed at setup.

SpA (Sociedad por Acciones), Ltda, and SA are standard structures. SII tax registration, RUT, and patent municipal registration follow.

Banking

Personal and corporate banking for residents is broadly accessible. Source-of-funds documentation matters for non-standard cases. Bordercase coordinates banking introductions.

Personal banking for residents is accessible. Bordercase coordinates introductions and documentation prep.

Residency unlocks personal banking. Corporate banking depends on activity. Bordercase coordinates introductions for cross-border cases.

Family

Family reunification is supported. Schools (public, private, English, German, French) are concentrated in Sofia, Plovdiv, and Varna.

Family inclusion on residency applications is supported. Schools (Spanish-language and limited international) are concentrated in Asunción.

Family reunification is supported. Schools (public, private, English, German, French) are concentrated in Santiago.

Risks

Risks Bordercase watches for in Bulgaria:

Tax residency triggers
VAT classification on cross-border services
Processing variations between regions
Euro adoption is in progress - operational planning needed

Risks Bordercase watches for in Paraguay:

Residency vs tax residency confusion
Document apostille and translation requirements must be tracked carefully
Some originating countries are subject to additional scrutiny
Real-world banking outside Paraguay may not change because of Paraguayan residency

Risks Bordercase watches for in Chile:

Tax residency triggers and worldwide-income reporting
Processing variations between regions
RUT timing for non-residents

Documents

Typical Bulgarian residency documents:

Passport
Criminal record certificate
Proof of address
Basis for residence (employment, business, etc.)
Health insurance
Family certificates

Apostilled and translated to Bulgarian.

Typical Paraguay documents:

Passport
Criminal record certificate (origin country + any country of residence in last 5 years)
Marriage / birth certificates for family
Proof of income or solvency (savings / pension / business)

All documents apostilled and translated to Spanish.

Typical Chilean documents:

Passport
Apostilled foreign documents (birth, marriage, criminal record)
Proof of income or investment
Health insurance
Spanish translations where required