Paraguay

About Paraguay Citizenship and Residency

Paraguay offers one of the world’s cheapest and easiest paths to permanent residency. Acquiring a Paraguay permanent residency is a simple process with several alternatives, such as making a bank deposit, making an investment, or applying as a retiree.

Investment options available to acquire the citizenship and passport of Paraguay. 

Making a bank deposit:

You must deposit an amount equivalent to 35 minimum monthly wages, which is currently a total of PYG24,554,600 (around US$4,500).

– The deposit may be in the Paraguayan Central Bank (non-interest bearing) or any Paraguayan commercial bank. Once you have been granted residency, you may withdraw the deposit in full.

Residence by investment program:

– The minimum investment needed under this category is $70,000, however, the investment can be completed in a 10-year period.

– Purchasing land for agricultural production with a minimum of 10 hectares.

– Dependents (spouse, dependent children, and parents), may be included in the application.

Retiring in the country

– If you wish to retire in Paraguay and can prove a monthly income equivalent to 100 wages, currently PYG7,015,600 ( around US$ 1,300) you will benefit from import tariff exemptions on personal effects up to certain quantities and under certain requirements.

– You will not need to renew the permit, but you must visit Paraguay at least once every three years, or your residency may be canceled.

Unified System of Opening and Closing Companies (SUACE) Method

– For foreign investors, there is a special procedure under the Unified System of Opening and Closing Companies (SUACE). This is a one-stop shop to carry out the procedures related to company registration and residence permit applications.

– Through this procedure, the permit issuance takes 20 days (through the standard procedure, it may take more than 3 months). In addition to the general requirements, investors must submit a certificate issued by the Vice Ministry of Industry and Commerce of Paraguay accrediting their qualification to SAUCE.

– To qualify an individual must justify an investment amount of PYG50,000,000 (around US$9,150). In the case of company investment, the contributed capital must be at least PYG50,000,000.

There are some requirements to be met under this option like-

• To be eligible for citizenship, you are required to have spent at least 183 days every year in Paraguay. Pay taxes and social security, and learn Spanish (Castellano) and a bit of Paraguay history.
• At the end of three years, you can be eligible for citizenship application. However, note that although a permanent resident of Paraguay can file for citizenship at the end of three years, the naturalization procedure might take a few more years.

Benefits Of Paraguay Residency By Investment Program

Here are some benefits of investing in Paraguay residency:

• You can live, work, and study in Paraguay
• minimal physical presence requirements
• lower taxes
• lower cost of living
• permits dual/multiple citizenships
• path to citizenship
• low-cost program
• fast and easy process

Paraguay Residency Requirements And Qualifications

Required Documents for Paraguay Permanent Residence Permit

• Original and photocopy of passport
• Original Police Clearance Certificate
• Original or Certified copy of Birth Certificate
• Original Certified copy of Marriage Certificate
• Medical Certificate
• Original Bank Reference Letter (not older than 6 months)
• Notarized affidavit confirming laws compliance
• Six passport-size photo
• Evidence of Residential Address

Your documentation must be officially translated into Spanish, copied, notarized, and apostilled.

 Residency

There are some other requirements for getting residency in Paraguay that need to be taken care of like:

• Economic solvency statement, which may be proven with a deposit in a bank in Paraguay, in a savings or current account in your name.
• Real Estate property deed of a property located in Paraguay.
• Documents certifying company incorporation and share capital.
• Documents issued by the National Police and Identifications Department of Paraguay.
• Interpol Certificate issued by the regional office in Asuncion, Paraguay.
• Life and residence Certificate issued by the jurisdictional police station.
• Proof of legal entry to the country (visa or stamped passport), issued by the immigration authorities at the control posts (airports or border).
• Affidavit confirming that the applicant will abide by the laws of the country signed by a Notary Public.
• Police or Court Records of your country of origin.
• Health Certificate from the country of origin or of the last residence.

Steps And Timeline

• STEP #1: Submitting the requisite documentation
• STEP #2: Travelling to Paraguay
• STEP #3: Making a deposit of at least S$4,500 in National Bank to prove solvency
• STEP #4: Receiving a permanent residence permit
• STEP #5: Application for an ID card

Firstly, applicants simply need to submit the requisite documentation. Next, the applicant needs to travel to Paraguay. Thirdly, the next step would be to make a deposit in the National Bank to demonstrate solvency. Applicants must deposit US$4,500, to prove solvency. After that receiving a permanent residence permit can take up to 90 days from the time of the application. Within six months of receiving the permanent residence permit, one must apply for an ID card. Your Paraguay Permanent Residence card will be valid for five years.

Our Services

Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:

• Find the best solution for your needs.
• Identify and deploy a strategy to help you accomplish your goals.
• Activate our network of people in the country where you need help without having you search for the best solution or lawyer. We only work with licensed people in every country whom we carefully vet and pass the guidelines and principles of privacy we stand for.
• Focus on cutting through the red tape and expedite your process.
• Provide proper communication with you about your case.
  …. and above all: Offer you legal strategies to provide additional layers of privacy for your identity, while obtaining your residency or citizenship!

Privacy World can also help you with incorporating your company in Paraguay, assisting in getting you settled in the country, and coordinating with you so that this experience will be less of a hassle.

Want Privacy World to handle your case? Have any questions? Contact us!

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