How to get permanent residence in Paraguay
If you are looking for a place to live with lots of opportunities and a low cost of living, then Paraguay should be at the top of your list. This landlocked country is home to the world’s larger aquifer and is one of the safest places to live in South America. Not only that, Paraguay provides a rather easy path to permanent residency. Here is a look at how you can become a permanent resident in Paraguay.
How to get permanent residence in Paraguay
If you are looking for a place to live with lots of opportunities and a low cost of living, then Paraguay should be at the top of your list. This landlocked country is home to the world’s larger aquifer and is one of the safest places to live in South America. Not only that, Paraguay provides a rather easy path to permanent residency. Here is a look at how you can become a permanent resident in Paraguay.
Economic requirements
There are some countries that will require you to deposit or invest more than $100,000 in their country in order to gain permanent residency. Paraguay only requires you to deposit about $4,500 USD. The deposit must be made into a non-interest bearing account in the country’s Central Bank or any commercial bank in Paraguay. Once you have made the deposit, you will be able to withdraw it in full. You can also set-up a company in the country using the $4,500 USD as your start-up capital.
Purchasing land in Paraguay as a path to permanent
residency
You can also gain permanent residency in Paraguay by purchasing a minimum 10 hectares of land for agricultural production.
Retiring in Paraguay
If you would like to retire in Paraguay, then you simply have to prove a monthly income of at least $1,300 per month. This income can be derived from Social Security payments, pensions, dividend income, or annuity payments. You can also have your personal effects excepted from tariffs under certain requirements.
Can you apply if you are self-employed?
If you are self-employed, a shareholder in a Paraguayan company, a student or a member of a clergy, then you can also apply for permanent residency.
What are the applications needed to apply for permanent
residency?
In order to apply for permanent residency in Paraguay, you will need to provide the following information:
● Valid passport with visa entry (if applicable)
● Proof of address
● Birth certificate
● Criminal record from home country of residence and Paraguay
● Certificate of civil status
● Certificate of life and residence
● Certificate of economic solvency
● Sanitary certificate
● Affidavit of compliance with Article 23 and Law 978/96
What is the application fee for permanent residence?
The application fee is $260 USD
How long does the application process take?
It will take a minimum of three months for you to get your residence permit from the Immigration Department. A permit renewal is not needed. However, the permanent residency can be cancelled if the person is absent for three years without justification.
Residency for foregin investors
There is also a way for foregin investors to get a permanent residency in as little as 20 days through the country’s United System of Opening and Closing Companies or SAUCE. To qualify, an individual must invest as least $9,150 or invest at least $27,500 as a company. Investors must submit a certificate by the Vice Ministry of Industry and Commerce of Paraguay to accredit their qualification into the SAUCE program.
Getting permanent residency in Paraguay
As you can see, there are many attainable paths to gaining permanent residency in Paraguay. Be sure to carefully research whether or not Paraguay is right for you. This small yet growing South American country could be your next home.
REFERENCE:
https://flagtheory.com/residency-in-paraguay/
