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Countries

	Grenada Central America & Caribbean	Montenegro Europe	Romania Europe	Paraguay Latin America
Overview	Grenada is a Caribbean jurisdiction with a Citizenship by Investment programme that uniquely supports US E-2 treaty access. Bordercase coordinates with authorised local agents.	Montenegro is a non-EU European country with structured residency routes, EU candidate status, and a growing role as a base for founders and remote workers in the region. Bordercase coordinates with licensed Montenegrin partners.	Romania is an EU member state with structured residency routes, accessible company formation, and competitive costs for founders and remote professionals. Bordercase coordinates with licensed Romanian partners.	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	Second passport US E-2 access English admin	Cost of living Coastal living Regional residency	Founders Digital nomads EU access Cost of living	Second residency Low day-count Cost of living Latin America
Currency	XCD	EUR	RON	PYG
Language	English	Montenegrin / Serbian	Romanian	Spanish / Guaraní
Time zone	UTC-4	UTC+1	UTC+2	UTC-4
EU member	No	No	Yes	No
Schengen	No	No	Yes	No
Residency	Grenada routes: Citizenship by Investment (CBI) via fund contribution or qualifying real-estate investment Standard work permits Family routes	Montenegrin residency routes: Temporary residence via employment Business / self-employment Real-estate ownership Family reunification Permanent residence typically after 5 years.	Romanian residency routes: Employment-based residence (including the Blue Card) Digital Nomad Visa - remote workers Business / investor routes Family reunification EU citizen-derivative routes	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	Domestic companies and IBCs are common in international structures.	DOO (limited liability) is the standard structure. Formation is well-documented and reasonably fast. Tax and VAT registration follow.	SRL (limited liability) is the standard structure. Formation involves notary and trade registry. Microcompany tax regime may apply for small businesses with eligible activities.	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	Banking is selective. Bordercase coordinates banking introductions through current partners.	Personal banking for residents is accessible. Corporate banking depends on activity. Bordercase coordinates introductions where useful.	Personal and corporate banking for residents is broadly accessible. Bordercase coordinates introductions for non-standard cross-border structures.	Personal banking for residents is accessible. Bordercase coordinates introductions and documentation prep.
Family	CBI can include qualifying dependents.	Family inclusion on residency applications is supported. International schools are available in Podgorica and on the coast.	Family reunification is supported. International schools (English, French, German) are concentrated in Bucharest, Cluj, and Timișoara.	Family inclusion on residency applications is supported. Schools (Spanish-language and limited international) are concentrated in Asunción.
Risks	Risks Bordercase watches for in Grenada: Programme parameters change Due diligence has tightened Reputational and revocation risks if information is misrepresented	Risks Bordercase watches for in Montenegro: Tax residency triggers EU accession dynamics may change rules over time Processing variations between municipalities Schengen entry / exit considerations for travel planning	Risks Bordercase watches for in Romania: Tax residency triggers Microcompany regime eligibility Processing variations between counties Schengen entry / exit rules now apply	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 CBI documents: Passport Due diligence questionnaires Source-of-funds evidence (extensive) Family certificates with apostille and translation	Typical Montenegrin residency documents: Passport Criminal record certificate Proof of accommodation Basis for residence Health insurance Family certificates Apostilled and translated.	Typical Romanian residency documents: Passport Criminal record certificate Proof of address Basis for residence Health insurance Family certificates Apostilled and translated to Romanian.	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.

Grenada

Central America & Caribbean

Montenegro

Europe

Romania

Europe

Paraguay

Latin America

Overview

Grenada is a Caribbean jurisdiction with a Citizenship by Investment programme that uniquely supports US E-2 treaty access. Bordercase coordinates with authorised local agents.

Montenegro is a non-EU European country with structured residency routes, EU candidate status, and a growing role as a base for founders and remote workers in the region. Bordercase coordinates with licensed Montenegrin partners.

Romania is an EU member state with structured residency routes, accessible company formation, and competitive costs for founders and remote professionals. Bordercase coordinates with licensed Romanian partners.

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

Second passport
US E-2 access
English admin

Cost of living
Coastal living
Regional residency

Founders
Digital nomads
EU access
Cost of living

Second residency
Low day-count
Cost of living
Latin America

Currency

XCD

EUR

RON

PYG

Language

English

Montenegrin / Serbian

Romanian

Spanish / Guaraní

Time zone

UTC-4

UTC+1

UTC+2

UTC-4

EU member

Yes

Schengen

Yes

Residency

Grenada routes:

Citizenship by Investment (CBI) via fund contribution or qualifying real-estate investment
Standard work permits
Family routes

Montenegrin residency routes:

Temporary residence via employment
Business / self-employment
Real-estate ownership
Family reunification

Permanent residence typically after 5 years.

Romanian residency routes:

Employment-based residence (including the Blue Card)
Digital Nomad Visa - remote workers
Business / investor routes
Family reunification
EU citizen-derivative routes

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

Domestic companies and IBCs are common in international structures.

DOO (limited liability) is the standard structure. Formation is well-documented and reasonably fast. Tax and VAT registration follow.

SRL (limited liability) is the standard structure. Formation involves notary and trade registry. Microcompany tax regime may apply for small businesses with eligible activities.

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

Banking is selective. Bordercase coordinates banking introductions through current partners.

Personal banking for residents is accessible. Corporate banking depends on activity. Bordercase coordinates introductions where useful.

Personal and corporate banking for residents is broadly accessible. Bordercase coordinates introductions for non-standard cross-border structures.

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

Family

CBI can include qualifying dependents.

Family inclusion on residency applications is supported. International schools are available in Podgorica and on the coast.

Family reunification is supported. International schools (English, French, German) are concentrated in Bucharest, Cluj, and Timișoara.

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

Risks

Risks Bordercase watches for in Grenada:

Programme parameters change
Due diligence has tightened
Reputational and revocation risks if information is misrepresented

Risks Bordercase watches for in Montenegro:

Tax residency triggers
EU accession dynamics may change rules over time
Processing variations between municipalities
Schengen entry / exit considerations for travel planning

Risks Bordercase watches for in Romania:

Tax residency triggers
Microcompany regime eligibility
Processing variations between counties
Schengen entry / exit rules now apply

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 CBI documents:

Passport
Due diligence questionnaires
Source-of-funds evidence (extensive)
Family certificates with apostille and translation

Typical Montenegrin residency documents:

Passport
Criminal record certificate
Proof of accommodation
Basis for residence
Health insurance
Family certificates

Apostilled and translated.

Typical Romanian residency documents:

Passport
Criminal record certificate
Proof of address
Basis for residence
Health insurance
Family certificates

Apostilled and translated to Romanian.

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.