Estonia vs Paraguay: which jurisdiction wins?

Estonia vs Paraguay — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Estonia	Paraguay
Tax headline	0% on retained earnings, 20% on distributions	10% corporate, territorial in practice
Formation days	1	14
First-year cost	$1,500	$2,500
Treaties	60+	4+
Substance	Real management required for tax residency	Substance required for residency
Banking	LHV, Swedbank, EMIs (Wise)	Local banks

Talk to a partner before you incorporate.

Wrong jurisdiction, wrong substance, or wrong bank shortlist is a 12-month problem. A 30-minute briefing fixes 80% of it.