Country vs country

Paraguay vs Bahamas

Side by side for a genuine tax resident, with €150,000 a year in dividends or foreign income.

	Paraguay	Bahamas
Personal income	0% abroad	0%
Company tax	10%	0%
Minimum days	183	No minimum
Cost of residency	Cheap	Expensive
Tax on €150,000 a year	€0	€0
Monthly cost for one person, rent included	€1,125	€2,550
In the EU	No	No
Spanish blacklist	No	No
Crypto gains	Territorial: gains on foreign exchanges treated as foreign-source and outside IRP. No specific crypto law; local-source capital gains taxed 8%.	No income or capital gains tax.
Pension	Territorial system: only Paraguayan-source income is taxed, so a foreign pension is not taxed.	No personal income tax.

Who wins

It depends on your case: your nationality, the country you leave and how you earn your money change the answer.