by Diego Feijó de Abreu
Eight days before Paraguay’s Central Bank initiated resolution proceedings for Ueno Bank, the far-right production company Brasil Paralelo released a documentary about the advantages of moving to Paraguay. The video, entitled “Paraguay: The Unexpected Destination,” premiered the day after Flavio Bolsonaro lost the presidential election on Oct. 26. It featured Raúl Latorre, president of Paraguay’s Congress and a member of President Santiago Peña’s Colorado Party.
Screen shot of international bridge from documentary by Brasil Paralelo, which is known for its slickly produced, conspiracy-theory laden hit jobs against left wing politicians and political parties, encouraging Brazilians to immigrate to Paraguay
The program was part of a wave of content that presented Paraguay as an economic alternative to Brazil. Financial influencers, business owners and bolsonarista pages began promoting supposed lower taxes, industrial incentives and ease of relocating companies and assets to the neighboring country.
The activity drew attention after Ueno Bank collapsed on Nov. 3. The Central Bank of Paraguay placed the institution, which served about 3 million customers and held $350 million in retirement pensions into resolution proceedings after solvency ratio had fallen to less than half the required minimum.
Brasil Paralelo interviewed a leader of the ruling party
Brasil Paralelo made the documentary available for free on YouTube. It highlighted Brazilian business owners who moved their operations to Paraguay, families who decided to leave Brazil and the tax advantages the country offers.
Latorre was one of the people interviewed, as was confirmed in an official statement from Paraguay’s Congress published on Oct. 30th.
In his interview with journalist Bruno Musa, Latorre praised Paraguay’s economic model, the conservative values of the Colorado Party and spoke of opportunities for foreign investors. He also emphasized the government’s support for private property, legal certainty and entrepreneurship.
The documentary illustrates social issues and problems in Paraguay’s public services, but devotes much more space to the supposed economic advantages for Brazilian business owners.
A bolsonarista network promoted immigration to Paraguay
The promotion of Paraguay did not start with Brasil Paralelo.
In September, an investigation by the Paraguayan news outlet El Surti identified a network of Brazilian social media influencers who were encouraging people to immigrate to Paraguay and set up companies there.
El Surti analyzed four social media profiles: Conexão Política, Imigra Paraguai, Buenno and Vinicius Guimaraes. Together they had more than 3 million followers on Instagram.
Their posts linked Paraguay’s tax incentives to political conservatism, opposition to the government of President Luiz Inácio Lula da Silva and more flexible labor laws.
One of the people identified in the story is Davy Albuquerque de Fonseca, cofounder of the Conexão Política portal and CEO of Imigra Paraguai, a company that offers tax residency, immigration and business setup services for Brazilians to emigrate to the country.
In November 2025, the portal announced a partnership with the consulting firm to promote those services. One campaign presented Paraguay as a country that defends God, homeland, family and freedom.
Conexão Política promoted an event sponsored by Ueno Bank
A post from Aug. 30 links Ueno Bank advertising to the Brazilian network that promotes Paraguay.
That day, Conexão Política published content about the WRC Ueno Rally del Paraguay, an auto race sponsored by the bank. The post identified Imigra Paraguai as a partner of the portal. It offered the consultancy’s services to Brazilians interested in investing in or buying property in Paraguay.
The content combines the Ueno Bank brand with commercial promotion by the Brazilian consulting firm. It does not prove, however, that the bank hired or paid the portal for the post.
Primo Rico, Bruno Perini among influencers who promoted Paraguay
The promotion of Paraguay’s economic advantages also reached influencers with large audiences in Brazil.
Thiago Nigro, known as Primo Rico (Rich Cousin), published a video entitled “The Flight of Brazilians to Paraguay.” In it, he discussed the transfer of companies, industrial incentives and reduced taxes. The video also carried an ad for Mercado Bitcoin.
Bruno Perini published price and tax comparisons between the two countries. In September, he highlighted differences in the prices of cars made in Brazil and sold in Paraguay. He attributed part of the difference to taxes.
Luciano Hang, a former major campaign donor and close ally of Jair Bolsonaro who owns the Havan box store chain, visited Asunción in July and met with Peña. Hang said he was studying an expansion of his business to Paraguay.
Other names involved in promoting Paraguay’s economic opportunities are Rob Correa, the Gêmeos Investem channel and Luciano Campos of Inteligência Empresarial. Their content covers taxes, tax residency, setting up factories and opening companies.
Not every YouTuber joined the trend. Filipe Boni published a video titled “The REAL Reason Brazilians Are Fleeing to Paraguay, Explained.” In it, he criticizes Brazilians who leave for the neighboring country, drawn by the promise of economic advantages.
In the El Surti investigation, influencer João Buenno also appears among those promoting Paraguay’s advantages. Guimaraes was interviewed and denied that he advocates weakening labor laws.
Ueno Bank confirms use of influencers
Ueno Bank included influencers in its advertising strategy. The agency 23 Sports was responsible for the “Todo por ganar” (Everything to win) campaign. Its portfolio lists the channels used to promote the institution while Paraguay prepared for the 2026 World Cup. Besides television, radio, print, outdoor advertising and digital platforms, the agency expressly lists influencers as an advertising category.
The record is available on the official 23 Sports website. The page does not identify the influencers involved or mention contracts with Brazilians.
Bank sponsored an event with Eduardo Bolsonaro in the United States
Ueno Bank also sponsored events for the international far right. It was a sponsor of the Hispanic Prosperity Gala on Feb. 10, 2026, at President Donald Trump’s Mar-a-Lago club in Florida. Among the prominent actors of the Latin American far right in attendance were Eduardo Bolsonaro and Argentine political consultant Fernando Cerimedo, who is currently in jail in Bolivia for attempting to murder his pregnant girlfriend. Ueno Bank appeared among the sponsors in the Diamond category, which the organizers offered for a minimum of $100,000. The amount the bank actually paid was not disclosed.
The Central Bank of Paraguay began resolution proceedings for Ueno Bank on Nov. 3 after finding that its financial position had deteriorated.
The agency hired by the bank documented the campaigns with influencers. There is no proof, however, that Ueno Bank paid the Brazilians who promoted immigration to Paraguay.
This article originally appeared in Revista Fórum, was translated with express authorization of the editor-in-chief by Panamerican Dispatch, and can be read in its original Portuguese here.
That didn’t work out so good! Nazis eat their own.