Where and how can you exchange your tourist dollars in Asuncion? First of all, you should be aware that in Paraguay  US $100 bills with serials starting in CB and D are not accepted. This is a National Bank rule, apparently. Ostensibly, it is to prevent possible fake $100 bills in circulation. But did you ever think it kind of weird that only Paraguay would have this problem, in the whole world? I think it has more to do with the quasi-exchange-controls in place on the dollar. You see, each different series is issued by a different bank within the Federal Reserve system.  Many other countries have controls on USD bills, but the CB and D controls are unique to Paraguay.

Anyway, let’s say you have some Euros, Swiss francs, Reals or pesos, or dollars not affected by the troubles. You can exchange money in the Microcentro.  The exchange rate offered in downtown Asunción (the “centro”) tends to be higher than in Villa Morra and other areas. Most of the “casas de cambio” downtown are located along Calle Palma going 2-3 blocks in either direction from the Panteón de los Heroes. A tip: Financieras usually have better rates then normal banks or exchange houses. There is a Financiera Brios in Shopping Villa Morra and there a couple of financieras along Palma. If you are changing a large quantity of money or are a regular, don’t hesitate to ask for a better rate.

Changing money on the street is not recommended. I have heard of several people being ripped off this way in the confusion of being surrounded by shouting money-changers all waving their arms with calculators.

ATM machines, of course, are a good option. A few years ago there was a daily limit of $600 for withdrawals in Paraguay. Last time I was there at the ABN-Amro in downtown I was able to withdraw $1000 in one single ATM transaction, so that restriction appears to have been lifted, at least at some banks. Of course, to make large ATM withdrawals you will need to check that your card-issuer will approve the transactions. Many tourists get stuck without money because banks in places like USA and UK will automatically block ATM cards if they are used frequently in out-of-the-way places like Paraguay. The solution is to use an offshore bank that is used to clients who travel. Uruguay has some good offshore banks that are also knowledgeable about Paraguay.

Once, I was with a client who wanted to exchange a lot of American Express Travelers Cheques to pay for a small real estate purchase. Unfortunately, the signature on the cheques differed from the signature on his passport. (He had signed the cheques with initials, but had written out his name in full on the passport) We tried many banks and casas de cambio but none would exchange the cheques. Finally, the solution was to go to the American Express travel office. They do not cash cheques (they do not handle cash, presumably for security reasons) but they were able to exchange the cheques for new blank cheques that the client could sign and exchange. He paid at least 5% fee for the exchange, plus all the hassle. So don’t waste time on travelers cheques in Paraguay. Cash is king!

Asuncion, the country’s capital and largest city, is garnering attention on the world stage in part because of its agricultural export products such as soybeans, cotton and beef. A recent Reuters news article highlighted that “Some of India’s top vegetable oil firms plan to lease or buy land in Paraguay.”

As a result, Regus is experiencing increased demand in the region from customers who are assessing business opportunities. In addition to its agricultural activity, affordability is a key selling point for Asuncion. Mercer Human Resource Consulting ranked the city as the world’s least expensive city to live in for the fifth year running. The firm estimates that to live in Asuncion costs half as much as it does to live in New York.

“Regus’ fully furnished and equipped business centers enable companies to easily and quickly establish a presence in a new market with minimal risk or upfront investment,” said Mark Dixon, Group Chief Executive. “This is particularly beneficial when businesses are setting up branch offices in emerging markets like Asuncion. We are confident that our ready-to-use office space will appeal to local entrepreneurs as well as multinational corporations.”

Paraguay’s population of 6.5 million is distributed unevenly throughout country. The vast majority of Paraguayans reside in the eastern part of the country, within 100 miles of Asuncion. “Having the majority of the population within driving distance to the capital city and to our new center puts us and our customers in a good position to pursue a wide range of business activity.” he concluded.

The Regus Asuncion center will be located at Citicenter – a Class A structure that is widely recognized as the premier building in Asuncion’s Villa Morra business and residential area. The center will feature private offices, a conference room as well as a professional business lounge for drop-in clients who want to remain productive while on the road.

Argentina and Brazil are among Paraguay’s top partners for trade. Regus’ established presence in the two countries will make business travel easier for individuals who will be conducting business across the three nations. In addition, Regus’ Miami-based clientele has expressed interest in our new market.

“Many of our Miami-based clients conduct business in Latin America and already use Regus’ services in other South American countries,” added Mr. Dixon.

The need for flexible workplace solutions continues to rise as challenges in the global economy force companies to rethink their real estate strategy.

“Given the current economic downturn, Regus’ workplace model is a more attractive option in terms of flexibility and lower costs. With the choice to sign an agreement for six months versus five years, our clients are taking on the right amount of space for the right term,” Mr. Dixon noted.

About The Regus Group

The Regus Group is the world’s leading provider of pioneering workplace solutions, with products and services ranging from fully-equipped offices to professional meeting rooms, business lounges and the largest network of videoconferencing studios. The Regus Group delivers a new way to work, whether it’s from home, on the road or from an office.

Clients such as Google, GlaxoSmithKline, IBM, Nokia and Accenture join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to The Regus Group, allowing them to focus on their core business.

Over 400,000 clients a day benefit from Regus Group facilities spread across a global footprint of 950 locations in 400 cities and 70 countries, which allows individuals and companies to work wherever, however and whenever they want to.

Paso Yobai is historically known for the high quality of its production of yerba mate. Is also known for the production of sugar-cane, cotton and soy.

The story of this new Klondike-style gold rush begins with Ecuadorian who, on a trip to the Paraguayan capital Asunción, fell in love with a young lady from Paso Yobai – a fertile and green place with beautiful undulating hills. Shortly afterwards the two were married, and the Ecuadorian discovered gold in a stream on his father-in-law’s property. From there began the gold rush fever that changed the life of many local families, as well as investors around the world looking to profit from the spectacular rise in the gold price over the past ten years.

Mining activity started on a small scale. Local gold bugs known as “garimpeiros” are really artisan miners. It generally takes between one and two days for a small scale miner to extract a gram of gold. But this gram is difficult to obtain. A garimpeiro can gernerally survive strictly of their mining activities if he can obtain 25 grams or more of gold a months.
The grams of gold are sold locally to other companies who process and export it. From there, the gold may be used in industrial processes or more commonly it is stored in international banks and bullion dealers in the form of gold coins and gold bars for investment purposes. Gold, after all, is the only real international currency that cannot be devalued.

Anyway, I digress. Back to Paraguay! Although mining has brought increased prosperity to Paso Yobai, it has also created serious environmental issues. Miners use mercury to separate gold from sand an clay. Unfortunately, the mercury often enters and contaminates creeks. Arroyo Gasory, Paso Yobai’s largest creek, is now highly contaminated with mercury and the fish are unsafe to consume.

The Canadian TSX-quoted company Latin American Minerals Inc. bought a local mining company in 2007 and negotiated an agreement with the Paraguayan government to begin mining in the district. Latin American Minerals claims that that Paso Yobai may contain one of the largest gold veins of the world. Others talk of gold reserves in the huge and virgin Chaco.

It remains to be seen how Paraguay’s gold business develops over the coming decade. But I for one believe investing in an undiscovered, low cost country that is so rich in natural resources has to make very good sense. Paraguay has  water, clean electricity, oil, gas, gold and friendly people. Plus, it is an undiscovered tax haven. What more could a foreign investor want? Why not consider Living, Investing and Doing Business in Paraguay?

Paraguay’s suggestion was that Brazil take over 97 percent of the debt, leaving Paraguay with approximately $600 million, because Brazil uses almost all the power. Currently, the two countries both share responsibility for the deb  under the original treaty that resulted in the dam, completed in 1984, being constructed.  Brazil does not wish to renegotiate the treaty.

You might have seen something on the news about the protests in Paraguay. Protests seem to be a regular occurence in Asuncion, something that has not changed under the new Presidency. I was last there in November and saw thousands of people being bussed in from the countryside to protest about various matters. The most controversial lately was the story about Brazilian farmers taking over indigenous lands – and the legal victory of an indigenous tribe.

The first question many people ask when I talk about investing in Paraguay, particularly when it comes to land in the Chaco, is whether title is safe and new landowners won’t be accused in the way that happened with these high profile cases.

The answer is that the Chaco is an entirely different case. Generally, when people are looking at buying land in the Chaco, they are thinking of buying land on which there simply are no people, indigenous or otherwise. The Chaco is a vast, barren expanse, in no way comparable to the populated areas in the south and near the Brazilian border where the problems have occured.

Lugo, however, does give the impression that his initial strategy is to dig himself in politically, strengthening and reinforcing his political power. While this might well be necessary to get things done, it will not reassure his detractors abroad, who have watched how Chavez took over Venezuela using democratic institutions then changed things around to make his power absolute.

100 days is still a short time. We will reserve judgement. Anyway check the link to Muna’s blog above for more commentary from the Spanish language Paraguayan bloggers.

The border between Brazil and Paraguay is basically open. Anyone can jump on a moto-taxi and whizz across in a couple of minutes. Drivers of cars are not normally stopped by customs officers either. Nobody will ask to see your passport. The rationale behind this open border arrangement is free trade between the two countries. (It’s worth noting that Argentina is not part of this agreement and has much stricter border and customs checks)

However, anyone planning to travel on beyond the immediate border area is required to check in with the passport offices on both sides of the Puente la la Amistad (Friendship Bridge) that links Paraguay and Brazil. Once to get a stamp out of the country you are leaving, and once to get a stamp in to the country you are entering.

Certain citizens need a visa for Brazil but not for Paraguay, and vice versa. For example on my last trip to that area, one of our group was a Cypriot (Cyprus) passport holder. Cypriots don’t need a visa for Paraguay, but they do for Brazil. In Asuncion, we went to the Brazilian consulate and asked for a tourist visa, but they said it would take 3 days and there was no time for that in our itinerary. Fortunately, at the Brazilian consulate in Ciudad del Este, Paraguay, he was able to obtain a visa in 3 hours one morning, and we crossed to Brazil that same afternoon.

The requirement to obtain stamps in passports also applies to people travelling on long distance buses between Brazil and Asuncion. Many times the bus drivers want to save time and refuse to stop at customs, but it is important to be insistent. Stories abound of travellers who have arrived overland in Asuncion without a visa, only to be forced into paying huge fines when trying to leave by air from Asuncion.

If you have any questions, leave a comment below and I’ll try to answer. Otherwise, I’m now researcging overland border crossings from Paraguay to Bolivia and will let you know what I discover.

Things however are looking up. Pluna started service to Montevideo earlier this year. Even better however, next month TACA will start a direct flight route from Asuncion to Lima, hubbing in to TACA’s wide network with connections to South, Central and North America.

I’m also looking forward to the new Copa flight from Panama to Santa Cruz de la Sierra in Bolivia, that will hopefully connect to flights to Asuncion. That should reduce travel time significantly between Panama and Paraguay.

In the meantime, though, I am more than happy (in my spare time, so please be patient) to serve as a clearing house for putting people in contact regarding to Paraguay. Although we are based in Panama, we visit Paraguay frequently and have many contacts in the areas mentioned on this site, such as Chaco real estate, and investment in industry in Paraguay. We also know the best people to contact if you are an individual seeking to establish residency here. It’s not widely known, but residence and citizenship in Paraguay brings with it a host of tax advantages.

What are my long term plans for this site? Well, together with the publishers I am working on a detailed “country intelligence report” for foreign businesses and individuals looking to do business in Paraguay. We’ll be covering all sorts of topics, such as those mentioned in the article we recently uploaded to ezinearticles.com called Paraguay: Business Opportunities in a Little Known Tax Haven.

I’ll post more information here in due course. In the meantime I’ll be in Paraguay on a further research visit and mini investment tour with some consulting clients during next week. We’ll be basing ourselves in Asuncion, and including a visit to the tri-border area, to the famous Iguazu falls, and the Itaipu power plant amongst other highlights. The “Contact” link is the best way to reach me. Please interact, make contact! It is good to know people are out there reading my material Maybe if you can’t join us next week, you can join us in the future?

Most imported goods (the expensive things) in Paraguay are priced in dollars, whereas day to day purchases are priced in Guarani. ATM machines typically pay out cash in both currencies.

Of course, a national currency denomination is something like buying shares in the country. The same is true of both Paraguay and the United States. It’s my view that the dollar is going to tank again soon – after all, they just printed $700 billion more to bail out the banks, and when there’s more around of something, the price has to go down. Basic law of supply and demand.

An interesting factor for the Paraguayan economy is that it is a gold producing nation, albeit that the quantities are still miniscule in terms of the world market for gold and precious metals generally. Gold is currently down, but is set to head upwards in the not too distant future. There’s an interesting commentary on “The Trial of Gold” by David Galland of “Big Gold” experts Casey Research, recently submitted to the Free Articles area at Q Wealth Report.

“Just today we’ve seen the dollar dipping once again into its downward spiral,” says my colleague, friend and offshore banking guru Peter Macfarlane. “Don’t be misled by short term booms!” Peter also offers up further evidence on his blog that the big government’s conspiracy to control money is breaking. It makes interesting reading for those of us who want to study international currencies, particularly Latin American ones, and their relationship to the price of gold.

I’ve always said Paraguay is a speculative investment. But speculative investments are also the ones that can pay the biggest rewards, right?

Paraguay is a South American country with rich culture and history, also a favorite getaway for tourists from all over the world including South America itself. Gambling in Paraguay is only legal in the casinos, and they have a few to boast of in the major cities that are of interest as tourist destinations.

Tourists and locals crowd Paraguay casinos alike, as Paraguayans are passionate about the thrill of gambling. Three of the Paraguay casinos are situated in Asuncion, which is also the capital city, and others are in Ciudad del Este and San Bernardino. One of the most famous of these is the Hotel Resort Casino Yacht and Golf Club Paraguay, situated in Asuncion. It is a hotel, as the name suggests, with 125 rooms and suites, an 18-hole golf course, a tennis court, a spa and fitness center, swimming pool, a disco, five restaurants with international and local cuisine, and two bars.

The casino in The Hotel Resort Casino Yacht and Golf Club Paraguay offers 18 table games with American roulette, baccarat, blackjack, Caribbean stud poker, French roulette, poker, and Punto Banco. Besides the table games, the casino also has 80 slot machines for the entertainment of the guests.

Due to the fact that most casinos are on a hotel’s premises, house rules may differ and with them the opening and closing hours, as well. All Paraguay casinos allow gambling only to those who are 18 years or age and more, and the same applies in the case of consumption of any alcoholic beverages. A valid identification will be required in order to enter a Paraguay casino and without one, you may be denied entry to the same.

If you are a beginner in the gambling world, Paraguay casinos’ friendly personnel conduct gambling lessons periodically for free in order to initiate newcomers to the thrill of the game. In Paraguay, the official language is Spanish; however, English is widely spoken throughout the country and in places that are tourist attractions such as casinos.

It is a pleasure to visit Paraguay whether it is by air, land, or a cruise in any season of the year; the people are friendly, the country charming, and the adventures are endless. Visit Paraguay today and experience for yourself the thrill of gambling in their casinos.

This article is the property of Paraguay Casinos. Article Source: http://EzineArticles.com/?expert=Adel_Awwad

Here is a list of the main casinos in Paraguay:

Gran Casino de Itaipu
Avenida 11 de Septiembre 816
Ciudad del Este 7000
Paraguay
Telephone: +(595) 6151 2123

Hotel Resort Casino Yacht and Golf Club Paraguay
Avenida del Yacht Numero 11
Lambare
Asuncion
Asunción 2429
Paraguay
Telephone: +(595) 2190 6043

San Bernardino Country Club & Hotel Acuario
Km 45 y Lago Ypacaraí
San Bernardino
Paraguay
Telephone: +(595) 512 2375