USD business account in Paraguay
A Paraguayan company can hold US dollars in a dollar account at a Paraguayan bank, in a USD account with a foreign provider that accepts Paraguayan companies, or through a US company with its own account. Paraguay has no controls on foreign exchange transactions, so a company may buy, sell and hold dollars freely, with bank reporting on transactions above $10,000. This guide compares the options, documents, provider eligibility and the central bank's position on cryptocurrencies.
Also available in: Español
- Paraguay has no controls on foreign exchange transactions, and companies can buy and sell foreign exchange freely at banks, finance companies and exchange houses.
- Banks in Paraguay must report transactions of more than $10,000, according to the US International Trade Administration.
- Bank forms for transfers abroad of USD 10,000 or more have the character of a sworn statement under SEPRELAD Resolution 349/2013.
- Paraguay is not on Wise's list of countries where customers can hold money or on Airwallex's list of supported registration locations.
- The Banco Central del Paraguay has stated that cryptocurrencies have no legal tender status and no state guarantee, and that the guaraní is the sole legal currency.
- A USD account abroad in the company's own name lets US buyers pay by ACH, the US domestic transfer system, instead of an international wire.
USD business account options in Paraguay: the short answer
A Paraguayan company can hold and receive US dollars in three main ways: a US dollar account at a Paraguayan bank, a USD account with a provider outside Paraguay that accepts Paraguayan companies, or a US company with its own US account. Paraguay has no controls on foreign exchange transactions, so a company may buy, sell and hold dollars freely at banks, finance companies and exchange houses. Banks lend and take deposits in both guaraníes (PYG) and foreign currency.
The main obligations are reporting rather than restriction. The US International Trade Administration notes bank reporting requirements for transactions of more than $10,000, and Paraguayan banks ask customers to complete a sworn statement for transfers abroad of USD 10,000 or more under a resolution of SEPRELAD, the anti-money laundering secretariat.
Each route serves a different need. Exporters of soybeans, beef and other products want buyers' dollars to arrive in full. Importers and re-exporters want dollars ready to pay suppliers in Brazil, China and the United States. Service firms want US clients to pay them as easily as they pay a US vendor. This guide covers the rules, documents, which foreign providers accept Paraguay, the US company route, the Banco Central del Paraguay's position on cryptocurrencies, and where a Helm USD account in the company's own name fits.
The options compared
The table compares the option types. It is not a ranking: many Paraguayan companies keep a local dollar account and add one other route.
| Option | Account name and location | How US payers pay it | Main points |
|---|---|---|---|
| US dollar account at a Paraguayan bank | Company's own name, bank in Paraguay | International wire (SWIFT) through the bank's US correspondent | No exchange controls; bank reporting above $10,000 |
| USD account with a foreign provider | Company's own name or a pooled account, held abroad | ACH, Fedwire or SWIFT, depending on the provider | Provider's country list decides eligibility |
| US company with a US account | A new US company's name, US bank or fintech | ACH and Fedwire as a US business | Separate company, US tax number and filings |
| Stablecoin wallet | Wallet address, not a bank account | USDC or USDT on a blockchain | Not legal tender; the BCP states cryptocurrencies carry no state guarantee |
Sources: International Trade Administration, Paraguay Country Commercial Guide; Última Hora report of the BCP statement. As published on 29 October 2026.
How to choose: start from how your buyers pay. A company whose buyers wire dollars from abroad is already served by a local dollar account. A company with US clients gains from US account details, because a client can then pay by ACH, the low-cost US domestic bank transfer system, instead of an international wire. A company that pays suppliers in several currencies gains from an account that converts between balances at a shown rate. A company planning US contracts or a US sales team may justify a US company.
Fedwire is the Federal Reserve's same-day system for large US dollar payments. SWIFT is the international network banks use to send cross-border payments, and each bank on it is identified by an 8 or 11 character code. A wire through SWIFT usually passes through one or more correspondent banks, each of which may take a fee, while an ACH payment moves inside the US system at low cost.
Foreign exchange rules in Paraguay
The International Trade Administration's Country Commercial Guide for Paraguay, last published on 5 March 2024, states that there are no controls on foreign exchange transactions and that importers and exporters can buy and sell foreign exchange freely at commercial banks, finance companies and exchange houses, at market rates. The Banking Superintendency, part of the Banco Central del Paraguay (BCP), regulates banks and finance companies.
| Question | Position | Source |
|---|---|---|
| Can a company hold US dollars? | Yes; there are no controls on foreign exchange transactions | International Trade Administration |
| Where can a company buy or sell dollars? | Commercial banks, finance companies and exchange houses, at market rates | International Trade Administration |
| Is there a reporting threshold? | Banks must report transactions of more than $10,000 | International Trade Administration |
| What is needed for a transfer abroad of USD 10,000 or more? | The bank's transfer form, which has the character of a sworn statement under SEPRELAD Resolution 349/2013 | Banco Familiar transfer form |
| Are tax withholdings applied to payments abroad for digital services? | Yes; the client authorizes withholdings under Law 6380/19 | Banco Familiar transfer form |
| How do importers usually pay? | Letters of credit, followed closely by wire transfers | International Trade Administration |
Sources as listed. As published on 29 October 2026. Confirm current rules with your bank and adviser.
A sworn statement (declaración jurada) is a declaration the customer signs as true, so a false statement carries legal consequences. On a bank's outgoing transfer form it records the purpose of the payment, such as payment to suppliers or imported goods, and the beneficiary's details. Law 6380/19 is the 2019 law the form cites for withholding on payments for digital services, which matters to companies paying software or platform providers abroad.
The practical effect is that a Paraguayan company can invoice in dollars, keep the proceeds in dollars and convert when it chooses. Keep the contract, invoice and shipping documents for every large payment, because the bank will ask for the purpose of each transfer above USD 10,000.
Receiving and sending dollars through a Paraguayan bank
Paraguayan banks offer accounts in US dollars and guaraníes. A buyer abroad pays a dollar account by SWIFT wire to the bank's US correspondent, quoting the bank's SWIFT code and the company's account number. For outgoing payments, bank transfer forms ask for a set of details that is worth preparing once.
| Field on a transfer abroad | What the bank asks for |
|---|---|
| Beneficiary | Account number, IBAN or other account identifier; name, address, city and country; tax registration number |
| Beneficiary bank | Name, address, city, country and SWIFT or ABA code |
| Intermediary bank | Name and SWIFT or ABA code, if the payment routes through one |
| Payment reference | Invoice number or other reference for the beneficiary |
| Charges | SHA (the beneficiary pays its own charges) or OUR (the sender pays all charges) |
| Reason for the transaction | One option, such as payment to suppliers or imported goods |
| Debit account | A USD or PYG account, from which the amount, charges and commissions are taken |
Source: Banco Familiar, outgoing transfer request form (USD). As published on 29 October 2026. Each bank uses its own form and publishes its own fees.
The ABA code is the nine-digit routing number that identifies a US bank. On SWIFT wires, intermediary bank deductions are often the largest cost. OUR means the sender pays all charges, SHA means each side pays its own bank, and BEN means all charges come out of the amount. Ask buyers to send with OUR when an invoice must be paid in full. Our guide on how to receive USD from overseas buyers lists what to send a payer.
Foreign USD account providers and Paraguay
Eligibility is set by each provider and changes over time. Several well-known names do not list Paraguay. The table records what each provider states on its own pages.
| Provider | What its own pages state for Paraguay |
|---|---|
| Wise | Paraguay is not on the list of countries where customers can hold money |
| Airwallex | Paraguay is not on its list of supported registration locations |
| Mercury | Accepts only companies formed and registered in the United States or a US territory |
Sources: the providers' own pages, linked below. As published on 29 October 2026.
Before you apply to any provider, check three points. First, whether the US details are in your company's own name or belong to a pooled account in the provider's name. Second, which rails the details accept: ACH only, or also Fedwire and SWIFT. Third, how dollars return to Paraguay when you need them there. Provider pages used: Wise on where you can hold money, Airwallex eligible countries and Mercury eligibility.
The US company route
Some Paraguayan founders form a US company, usually a limited liability company (LLC) or a Delaware corporation, and open a US account in its name. Mercury requires the company to be formed and registered in the United States or a US territory and to have existing or planned US operations, and states that founders do not need to be US citizens or residents. The US company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that international applicants may call 267-941-1099, from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday to Friday, or fax Form SS-4 to 304-707-9471. The US company is a separate legal entity with its own tax filings; take Paraguayan and US tax advice first.
Documents you need
Banks and providers ask for broadly the same company file. The list below is a typical checklist; each bank sets its own.
| Document | Dollar account at a Paraguayan bank | USD account with a foreign provider |
|---|---|---|
| Deed of incorporation and bylaws, registered | Yes | Yes, with a translation if asked |
| RUC, the taxpayer registration number | Yes | Usually |
| Minutes appointing directors and powers of the representatives | Yes | Usually |
| Identity documents of directors and signatories | Yes, Paraguayan identity card or passport | Yes, passport or national ID |
| Details of beneficial owners | Yes | Yes, owners of 25% or more under US and provider rules |
| Proof of business address | Yes | Yes |
| Description of trade, counterparties and expected volumes | Yes | Yes |
| Sworn statement for transfers abroad of USD 10,000 or more | Yes, on the bank's form | Not applicable; provider's own checks apply |
Typical requirements compiled by the Helm Editorial Team; the USD 10,000 sworn statement is from the Banco Familiar form citing SEPRELAD Resolution 349/2013. As published on 29 October 2026.
The RUC (Registro Único de Contribuyentes) is Paraguay's taxpayer registration number, and it appears on bank transfer forms for both sender and beneficiary. Keep the company name the same on every document and invoice, because banks compare the beneficiary name with the account holder.
Stablecoins in Paraguay: USDC and USDT
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar. USDC and USDT are the two most widely used dollar stablecoins. The BCP's published position is the main reference for businesses.
- Legal tender. In December 2021, as reported by Última Hora, the BCP stated that cryptocurrencies are not issued by a central bank and have no legal tender status or cancelling power. Under the BCP's organic law, the guaraní is the sole legal currency and the BCP the only issuer of notes and coins.
- No state guarantee. The BCP stated that bitcoin and similar assets carry no state guarantee and that their prices are highly variable, similar to high-risk investments.
- Anti-money laundering. In December 2019, SEPRELAD asked reporting entities such as banks and exchange houses for information on clients operating with virtual assets, to size the market, as reported by CriptoNoticias.
| Question | What the sources say |
|---|---|
| Are cryptocurrencies legal tender in Paraguay? | No. The guaraní is the sole legal currency |
| Does the state guarantee them? | No, according to the BCP |
| Do anti-money laundering rules reach them? | SEPRELAD has requested information from reporting entities on clients operating with virtual assets |
| Is a stablecoin balance a bank deposit? | No. It is a digital asset, not a deposit |
Sources: Última Hora, December 2021 report of the BCP statement; CriptoNoticias, December 2019. As published on 29 October 2026.
A Paraguayan company paid in USDC or USDT should document each underlying sale as it would for a wire, record the conversion to dollars or guaraníes, and take advice on tax and reporting, because the position may change as Paraguay updates its rules.
Where a Helm USD account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions, and Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details.
- Exporters and service firms can give US buyers domestic US payment details, so a buyer pays by ACH as it would pay a US vendor.
- Importers can hold dollars and send international payments to suppliers by SWIFT or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- Companies paid in stablecoins can receive USDC and USDT and convert them to USD inside the account.
- Funds needed at home can be sent to the company's own dollar account at a Paraguayan bank.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Each account has a named account manager, review questions are answered in writing within one business day, and trade finance is arranged case by case.
Freelancers and sole traders
Paraguayan freelancers paid by foreign clients can hold dollars in a personal dollar account at a local bank under the same open rules. Wise does not list Paraguay among countries where customers can hold money, so check any provider's list first. A freelancer who forms a company should move client payments to the company's account. For a neighboring market, see our guide to a USD business account in Brazil.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Paraguayan company open a US dollar account?
Yes. Paraguayan banks offer accounts in US dollars as well as guaraníes, and there are no controls on foreign exchange transactions. A company can also use a foreign provider that accepts Paraguayan businesses, or form a US company with its own US account.
Does Paraguay have exchange controls?
No. The US International Trade Administration states that there are no controls on foreign exchange transactions and that importers and exporters can buy and sell foreign exchange freely at banks, finance companies and exchange houses.
Do Paraguayan exporters have to convert dollars to guaraníes?
No exchange control requires it. Exporters can keep proceeds in a dollar account and convert at market rates when they choose.
What is reported on foreign transfers in Paraguay?
The International Trade Administration notes bank reporting requirements for transactions of more than $10,000. Bank transfer forms for USD 10,000 or more have the character of a sworn statement under SEPRELAD Resolution 349/2013.
What is the RUC in Paraguay?
The RUC (Registro Único de Contribuyentes) is Paraguay's taxpayer registration number. Banks ask for it when a company opens an account, and it appears on transfer forms for sender and beneficiary.
Can a Paraguayan company open a Wise account?
Paraguay is not on Wise's list of countries where customers can hold money. Check the Wise page directly, because providers update their lists.
Does Airwallex accept Paraguayan companies?
Paraguay is not on Airwallex's published list of supported registration locations. Airwallex states that it may add, remove or change the regions it supports.
Is cryptocurrency legal tender in Paraguay?
No. The BCP stated in December 2021 that cryptocurrencies have no legal tender status or cancelling power, that the guaraní is the sole legal currency, and that cryptocurrencies carry no state guarantee.
Can a Paraguayan founder get a US EIN?
Yes. The IRS instructions for Form SS-4 let international applicants call 267-941-1099 to obtain an EIN, or fax Form SS-4 to 304-707-9471 from outside the US.
References
- International Trade Administration: Paraguay Country Commercial Guide, trade financing
- Banco Familiar: Solicitud de transferencia al exterior (USD)
- Última Hora: El BCP ratifica advertencias acerca de criptomonedas
- CriptoNoticias: Paraguay, plazo para reportar operaciones con criptomonedas (SEPRELAD)
- Wise: Where can I open a Wise balance?
- Airwallex Help Center: Eligible countries and territories
- Mercury: Eligibility and requirements for opening a Mercury account
- Internal Revenue Service: Instructions for Form SS-4
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.