Paraguay (PY)

Jurisdiction Overview

IDQuestionAnswer
471 *BO Record: Does the registration of domestic companies comprise beneficial owner's identity information? Yes, more than 25%. All companies require recording of all beneficial owners at threshold of more than 25% (FATF).
 Data Date: 2019

Notes

 
Law 6446/ 2019 published on December 2, 2019, creates a beneficial ownership (BO) register to be administered by the Ministry of Treasury (Article 1 of Law 6446/2019). Legal entities that are required to report their BO include: companies, partnerships, foundations, and all those regulated by the Civil Code, as well as trusts and investment funds (Article 2 of Law 6446/2019). BO information is to be provided upon registration, or, in the case of existent entities, in the following nine months (Article 3 and 5 of Law 6446/2019). A beneficial owner is to be considered anyone fullfilling at least one of the following conditions: a) having more than 10% shares; b) controlling more than 25% of the voting rights; c) managers or administrators benefiting from the assets, or in which name transactions are performed; d) having the right to designate the administrative direction or supervisory boards; or e) can control the legal entity or person (Article 4 of Law 6446/2019). There is no mention of indirect control in the definition, but Article 5 requires the chain of ownership or control exercised by other means.

Sources

Law 6446/ 2019