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	Paraguay Latin America	Armenia Europe	Hong Kong Asia	Cayman Islands Central America & Caribbean
Overview	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.	Armenia has become an accessible relocation and operational base since 2022, with a maturing IT sector, simple residency routes, and a competitive tax framework. Bordercase coordinates with licensed Armenian partners for filings.

Best for	Second residency Low day-count Cost of living Latin America	Founders IT professionals Tax simplification Banking diversification Regional hub	Founders Banking Holding structures English admin	Funds Holding structures HNW English admin

Residency	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.	Common Armenian residency routes: Temporary residence - issued for 1 year, renewable; granted for work, study, business, family, or Armenian ancestry Permanent residence - typically 5 years renewable; available after qualifying temporary stay or other qualifying ground Special residence - 10-year status for individuals of Armenian descent or those of significant value to Armenia Family reunification - spouse, children, dependant parents Many nationalities can enter visa-free or with a simple e-visa for up to 180 days, which is often used to plan the right route.	Hong Kong residency routes: General Employment Policy (GEP) Quality Migrant Admission Scheme (QMAS) Top Talent Pass Scheme (TTPS) Capital Investment Entrant Scheme (CIES) - recently revived Dependant routes	Cayman Islands residency routes: Certificate of Permanent Residence for Persons of Independent Means - qualifying investment Residency Certificate (Substantial Business Presence) - operating a qualifying business Work permits for employer-sponsored roles Family routes

Company 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.	Standard Armenian entities and tax treatment: LLC (Sahmanapak Pataskhanatvut`yamb Enkerut`yun) - the default private entity; fast online formation Individual Entrepreneur (IE) - simple setup; Turnover Tax regime at 5% (or category-specific rates) for qualifying small businesses IT Sector incentives - certified IT companies have historically benefited from reduced corporate tax and payroll incentives (programmes are revised periodically) Standard CIT is 18%; dividend withholding is 5% for residents Bordercase coordinates structure choice to match real activity and current incentive frameworks.	Hong Kong Limited companies are widely used for trading and holding structures. Annual filings, audited accounts, and a company secretary are required. Substance expectations and BEPS-driven changes affect ongoing planning.	Exempted Companies, LLCs, and partnerships are widely used in fund and holding structures. Economic substance rules apply to relevant activities.

Banking	Personal banking for residents is accessible. Bordercase coordinates introductions and documentation prep.	Personal and corporate banking is broadly accessible through Ameriabank, ACBA Bank, Ardshinbank, and others - typically with USD, EUR, RUB, and AMD accounts. Onboarding is straightforward for clean cases; expect source-of-funds questions for larger flows. Bordercase coordinates introductions where useful.	Local banking has tightened materially; some non-resident structures face long onboarding or rejection. EMIs and Singapore / Dubai banking are common alternatives. Bordercase coordinates introductions through current partners.	Banking is mature but selective. Source-of-funds documentation is central. Bordercase coordinates introductions through current partners.

Family	Family inclusion on residency applications is supported. Schools (Spanish-language and limited international) are concentrated in Asunción.	Family reunification is supported across most routes. English-language international schools are available in Yerevan. Healthcare is a mix of public and private; private cover is recommended for relocating families.	Family relocation is supported on most residency routes. Schools (local, private, ESF, international) are competitive; international school waitlists are real.	Family inclusion is supported on most residency routes. International schools are concentrated on Grand Cayman.

Risks	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 Armenia: Tax residency triggers - 183 days makes you tax-resident under Armenian rules IT certification scope - incentives apply only to certified, qualifying activities Russia/EAEU exposure - Armenia is part of EAEU; some structures benefit from this, others raise sanctions/banking flags Source-of-funds scrutiny for non-standard transfer corridors Permit renewals - documentation continuity matters across cycles	Risks Bordercase watches for in Hong Kong: Company-only setups without substance face banking and audit friction Banking has tightened materially Political / policy shifts must be factored into long-horizon planning Annual audit and filing discipline is real	Risks Bordercase watches for in the Cayman Islands: Economic substance reporting and audit Reputational handling around offshore structures KYC tightening across the industry

Documents	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 Armenian residency documents: Passport (6+ months valid) Proof of basis (employment, business, study, ancestry, family) Proof of accommodation Health insurance Bank statements / proof of income Criminal record certificate (apostilled, where required) Marriage / birth certificates for family routes Apostille and certified translation into Armenian where required.	Typical Hong Kong documents: Passport CV Education certificates Employment history Company documents (where applicable) Family certificates with notarisation	Typical Cayman documents: Passport Source-of-funds evidence Health and police clearances Apostilled foreign documents Family certificates for dependents