BANKING CRISIS
Ueno's collapse dents Paraguay's appeal to Brazilian business
Ueno headquarters in Asunción. Photo: Ueno
For a growing number of Brazilian entrepreneurs, and for much of Brazil's political right, Paraguay has become the model neighbor. Its maquila regime taxes exports at a flat 1%, corporate income tax is 10%, annual inflation stood at 1.5% in August, and S&P and Moody's lifted its sovereign debt to investment grade last year.
The Brazilian Report has tracked the migration in this newsletter and in Brazil Agro, from Lupo's BRL 30 million sock plant in Ciudad del Este to land funds buying up the Chaco. In 2025, Brazilians received 23,526 of the 40,600 residency permits Paraguay granted.
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