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Residency Program of Paraguay
Overview of Paraguay
Paraguay, nestled in the heart of South America, showcases a vibrant fusion of Spanish and Guaraní cultures. The capital, Asunción, stands as a testament to this rich cultural tapestry. The country’s economy is primarily driven by agriculture, with soybean exports and a burgeoning manufacturing sector. Visitors can explore attractions like Ñacunday National Park, the monumental Itaipu Dam, and historic Jesuit Missions. Paraguay is home to a predominantly homogeneous population with Roman Catholicism as the prevailing religion. Governed as a democratic republic since its independence in 1811, Paraguay’s unique cultural identity and natural wonders make it an enchanting destination.
Language
Guaraní & Spanish
Currency
Paraguay Guarani
Total Area
406,752 km2
Capital
Asunción
Government
Presidential Republic
Population (2024)
7,556,000
Residency Programs of Paraguay
Paraguay offers one of the most economical and straightforward routes to attaining permanent residency globally. Various avenues are available for becoming a Paraguayan resident, allowing you to choose the most suitable option based on your nationality, requirements, objectives, and financial capacity.
The Investment Residency program grants permanent residency with a minimum investment of $70,000. Alternatively, retirees with a monthly income of at least $1,022 can secure permanent residency in Paraguay, irrespective of their age. Another option involves depositing a minimum of $4,500 in a Paraguay bank for those whose entry into Paraguay requires a visa upon arrival or is visa-free for their home country.
Which Family Members Can Be Added in the Same Paraguay Residency Application?
- Spouse
- Dependent children under the age of 18
- Unmarried children under 30 years old that depend financially on the applicant
Benefits of Paraguay Residency
Paraguay offers a unique suite of advantages, especially for those scouting for an attractive tax system and a swiftly growing economy. Some of the factors that prompt thousands to move their residence to this country each year include:
- Having residency in Paraguay grants you the flexibility to live, work, and study in the country.
- Maintenance of your residency status doesn’t require continuous living within Paraguay; spending just one day every three years in the country is sufficient.
- Paraguay stands out for its attractive tax benefits. If you’re contemplating relocating your tax residence, Paraguay offers a compelling option with relatively low investment amounts.
- As a stable South American nation and a member of the Southern Common Market (MERCOSUR), Paraguay boasts one of the world’s highest GDP growth rates.
- After just three years of permanent residence, you can apply to become a citizen.
- Paraguay offers a low cost of living, excellent healthcare, and a warm, welcoming culture.
Paraguay Residency by Investment Program (SUACE)
For foreign investors, there is a special procedure under the Unified System of Opening and Closing Companies (SUACE). If your country of origin requires a visa for entry into Paraguay, one effective pathway to secure permanent residency is through the investment program. This program allows individuals to obtain permanent residence by making a minimum investment of $70,000.
It’s noteworthy that this amount doesn’t need to be spent all at once; instead, you can present a business plan outlining how your company intends to invest this sum over a period of 10 years. The permissible activities, as stipulated by the requirements of the investment program, encompass real estate acquisition, service provision, and involvement in commercial or agricultural land.
Residency Cost of Paraguay
Business Investment
$70,000 (over 10 years)
Application, company formation, and registration fees
$14,000
How to Qualify for the Paraguay Residency?
- Applicants must be 18 years of age or older and have a valid passport
- Applicants must have no criminal record, notarized affidavit confirming laws compliance
- Applicants must have a certification of good health from a reputable health care system
- Applicants must have a birth certificate and marriage certificate (if applicable)
- Applicants must be in possession of adequate health insurance
Citizenship and Passport of Paraguay
Possessing a Paraguayan passport provides substantial benefits, granting holders visa-free or visa-on-arrival entry to more than 140 countries globally. According to Paraguay’s citizenship regulations, eligibility to apply for citizenship arises three years after obtaining a permanent residence permit. During this period, applicants must have spent a minimum of 183 days in Paraguay annually. Additionally, applicants must fulfill criteria such as fulfilling tax obligations, demonstrating proficiency in Spanish, and possessing a fundamental comprehension of Paraguayan history and culture.
Reach us to learn all about Paraguay Program, Application Details and Visa-Free Countries
Over the past several years, the Paraguay government has successfully worked on expanding its list of visa-free countries.
FAQ’s About Residency Programs of Paraguay
How can I get permanent residency in Paraguay?
You can get permanent residency in Paraguay by participating in the program of business residency, called SAUCE. To apply you need to provide a business plan with future investments of at least $70,000 over 10 years.
How long does it take to get permanent residency in Paraguay?
If you meet the all requirements, you can expect to get your residency in around 3 months.
Can foreigners buy property in Paraguay?
Yes, foreigners have the opportunity to acquire property in Paraguay, and the costs associated with property acquisition are relatively lower when compared to many other countries.
Do I have to become a tax resident in Paraguay if I get residency?
No, it is not mandatory to shift your tax residency to Paraguay upon obtaining Paraguayan residence. However, it can be financially advantageous to do so, considering Paraguay’s reputation for offering tax benefits to both its residents and foreign investors.
How do I become a citizen of Paraguay?
After maintaining permanent residency in Paraguay for a period of three years, individuals become eligible for naturalization provided they are proficient in one of the nation’s two official languages and have memorized the national anthem.
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