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conditions provides both factories and assembly plants a competitive edge towards production forregional and world markets. Some of those advantages are:≠ The protection of investments and interests of economic units (both private and public) setforth by the Asunción Treaty, the Ouro Preto Protocol (an addendum to the former) and the BrasiliaProtocol on Conflict Resolution.≠ The creation of a greater export capacity to other countries, as well as the possibility of gainingeasier access to the world market, based on a more competitive local production.≠ Increase of direct investments due to a larger market, simplification and harmonization ofnorms and procedures.≠ Participating with neighboring countries in regional production by furnishing certain links ofthe productive chain of an enlarged market.DESTABLISHING A COMPANY IN PARAGUAY1. BRANCHES OR REPRESENTATIVES OF FOREIGN COMPANIESCompanies established in a foreign country that wish to undertake commercial transactions inParaguay may establish a branch or any other type of representative. The branches are subject, as areParaguayan companies, to the Civil Code’s provisions regarding the recordal of documents, bylaws andpowers of attorney at the Public Registry of Commerce and at the Registry of Juridical Persons andAssociations.A) REQUIREMENTSFor such purposes, the following documents must be prepared by the parent company, certified by anotary public, and legalized before the nearest Paraguayan Consulate.(1) The parent company’s bylaws or documents of incorporation.(2) A certificate from a public officer or from the chamber of commerce proving that theparent company is legally registered in the country of origin.(3) A Minute from parent company’s Board of Directors resolving to:Berkemeyer Attorneys and Counselors | Asunción - Paraguay26