In a large pot, melt the butter over medium heat. Add the chopped onion and sauté until translucent, about 5 minutes. Stir in the minced garlic and cook for an additional minute until fragrant.
Add the sweet corn to the pot and stir to combine. Cook for 3-4 minutes, allowing the corn to soften slightly.
Pour in the vegetable broth and bring the mixture to a boil. Reduce the heat and let it simmer for 10-15 minutes.
Using an immersion blender, blend the soup until smooth. If you don’t have an immersion blender, carefully transfer the soup in batches to a countertop blender and blend until smooth.
Return the blended soup to the pot and stir in the heavy cream, salt, black pepper, smoked paprika, and lime juice. Heat through for another 5 minutes, but do not let it boil.
Taste and adjust seasoning if necessary. Serve hot, garnished with chopped fresh cilantro.