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	Cyprus Europe	Paraguay Latin America
Overview	Cyprus is an EU member state with established routes for residency, company setup, and family relocation. Bordercase coordinates with regulated Cypriot lawyers and corporate-services providers for filings and ongoing compliance.	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.
Best for	Founders Holding structures EU access English admin	Second residency Low day-count Cost of living Latin America
Currency	EUR	PYG
Language	Greek / English	Spanish / Guaraní
Time zone	UTC+2	UTC-4
EU member	Yes	No
Schengen	No	No
Residency	Cyprus residency routes: Permanent residency by investment (Cat F / Cat 6.2) Digital Nomad Visa Employment routes (including the international headquartering route) Family reunification The investor citizenship programme is closed.	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.
Company setup	Cyprus Limited companies are widely used by international groups for IP, holding, and trading structures. Substance, local director, and accounting requirements have tightened in recent years and must be planned at setup.	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.
Banking	Cypriot banks have strict KYC and source-of-funds processes following past compliance episodes. EMIs are widely used as supplements. Personal and corporate banking introductions go through vetted partners.	Personal banking for residents is accessible. Bordercase coordinates introductions and documentation prep.
Family	Family reunification is available on most routes. English-language schools (public and private) and healthcare options are widely accessible to legal residents.	Family inclusion on residency applications is supported. Schools (Spanish-language and limited international) are concentrated in Asunción.
Risks	Common pitfalls in Cyprus cases: Post-reform substance requirements underestimated Banking timelines longer than expected Permanent residency confused with citizenship (different programmes) Some sectors face additional KYC scrutiny	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
Documents	Typical document pack for Cyprus residency: Passport Criminal record certificate (apostilled) Proof of income / investment Health insurance valid in Cyprus Accommodation evidence Education certificates (for relevant routes) Marriage / birth certificates for family routes For company formation: business plan, ownership-chain documents, and KYC for all ultimate beneficial owners.	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.

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