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Permanent residence permit Residencies Plan of Paraguay (South America)
Permanent residence permit
You must make a deposit of an amount equivalent to 35 minimum monthly wages, which is currently a total of PYG24,554,600 (≈ 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.
You may also obtain residency, setting up a company with a minimum capital of the above-mentioned amount; or purchase land for agricultural production with a minimum of 10 hectares.
Dependents (spouse, dependent children and parents), may be included in the application.
If you wish to retire in Paraguay and can prove a monthly income equivalent to 100 wages, currently PYG7,015,600 (≈ USD 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 cancelled.
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 SUACE. In order to qualify an individual must justify an investment amount of PYG50,000,000 (≈ US$9,150). In case of company investment, the contributed capital must be at least PYG 50,000,000 (≈ US$27,500).
According to the National Constitution of Paraguay, after three years of permanent residence, you may be eligible for Paraguayan citizenship by naturalization. You will have to demonstrate some ties to the country such as real estate or local company ownership, continuous fiscal residence or regular exercise of a profession.
You may also need to have a basic notion of Spanish and basic knowledge of the country's history, geography and politics. It is recommended to have bank references issued by first class banks and certified copies of degrees.
Requirements
- 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 (if applicable).
- Documents certifying company incorporation and share capital (if applicable).
- Document 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 immigrations 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 last residence.
- Consular tourist visa (if applicable).
Restricted Nationalities
No nationality is officially restricted
dual citizenship
According to the Paraguayan National Constitution, multiple nationality may be admitted through an international treaty by reciprocity of constitutional rank, between the States of origin and adoption. Currently, there is only a double nationality treaty in force with Spain. However, de facto the renunciation of one's other nationality is rarely required by the Paraguayan authorities. As each case is handled individually, we recommend legal advise.
Documents Required
- Original and photocopy of passport
- Original Police Clearance Certificate
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Medical Certificate
- Original Bank Reference Letter (Not older than 6 month)
- Notarized affidavit confirming laws compliance
- Six passport-size photos
- Evidence of Residential Address
- dual citizenship No
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required Yes
- Language skills required No
- Interview required No
- Investment Single $4,500
- Investment Family 4 $4,500
- Minimum annual income -
- Time to citizenship 36
- Time to permanent residency
- Visa-free countries 128
- Financing available No
Paraguay
The Republic of Paraguay is a land-locked South American country and member of Mercosur and Unasur. It borders Argentina to the southeast, south and southwest, with Bolivia to the north and Brazil to the east. It is the fifth smallest and fourth least populated country in South America, with about 7 million inhabitants. Its territory comprises two different regions separated by the river Paraguay: the western, which is the most populated, and the eastern, which forms part of the Chaco, a semi-arid, sparsely populated wilderness. Although it is a landlocked state, it has ports on the Paraguay and Parana rivers that give it an outlet to the Atlantic Ocean through the Parana – Paraguay waterway. Its capital, political and economic center is Asuncion. Its official languages are Spanish and Guarani and its official currency is the Paraguayan Guarani.
- National Flag of:Paraguay
- Currency:PYG
- Area Code:595
- Capital:Asunción
- Continent:South America
- Native Languages:Spanish,
- Population:6,375,830
BENIFITS
With your new passport from Paraguay you'll be able to access 128 countries visa free
citizenship benefits Visa-free or Visa on arrival to 128 countries including Russia Schengen Area United Kingdom The right to live and work in Paraguay at all times and all the rights associated with membership of the Mercosur Low cost citizenship Visa-free access to Russia permanent residency benefits Low tax jurisdiction The right to live and work in Paraguay without any time limit Fast and easy process Territorial tax system Warm climate Low cost of living Low cost program Travel visa-free across Mercosur Be eventually eligible for citizenshipFEES
| ITEM | AMOUNT |
|---|---|
| total fees main applicant | $260 |
| total fees spouse | $260 |
| total fees dependent -18 | $260 |
| total fees dependent 18-25 | $260 |
| total fees dependent +65 | $260 |
TAXES
In Paraguay, an individual is deemed to be tax-resident if he or she spends more than 120 days a year in the country.
Both tax-residents and non-residents are subject to personal income tax on their Paraguayan-source income.
Personal income is taxed at 10%, if income is equal to or higher than 120 monthly minimum salaries, otherwise is taxed at 8%. Dividends are subject to a final withholding tax at an effective tax rate of 5%. Capital gains, interests and royalties are taxed at the standard rate.
Real property tax is levied at a 1% on the cadastral value of the property. Surtaxes may apply on certain types of properties.
There are no taxes on inheritance and net worth.
The V.A.T. standard rate is 10%. A 5% reduced tax rate applies to the supply of certain goods and services.
Regarding corporate taxation, resident entities are subject to tax on their income derived from Paraguay at a flat rate of 10%. Certain foreign-source investment income such as interest and capital gains may be subject to taxation. To learn more about Paraguay’s corporate taxation, legal framework and tax treaties, check out incorporations.io/paraguay.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | No |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | No |
| Tax residency days | 120 |
| Personal income tax rate | 10% |
| Capital Gains tax rate | 10% |
| Investment income tax rate | 10% |
| Territorial taxation | Yes |
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