Identity Optimization Strategies for South America - Paraguay Permanent Residency and Passports
The Paraguay Permanent Residence Permit Solution is2022One of the most affordable, straightforward and low-tax jurisdictions of the year. In addition, it is an appreciated landlocked country with a minimum cost of only4,000euros, foreigners do not have to physically reside there to maintain their status. This, coupled with relatively low investment requirements, has made Paraguay a point of interest for many.
Paraguayan passport
The Paraguayan passport allows access to the European Union (EU), the United Kingdom (UK), Ireland and Russia - so it's a very cost-effective investment and a good passport. It's also part of the South American Common Market (MERCOSUR), so it's possible to travel anywhere in South America without a visa; all you need is an ID card.
Caribbean passport with third-country residency
Obtaining a second passport and then obtaining residency in another country is one of the most popular concepts, and in 2020 we are proposing toUpgraded Caribbean Citizenship Program(Dominica+ Greece ACBIP). People who were looking for a reliable B+C program at the time solved the problems of travel, EU living, education, risk control, and capital allocation all at once with this industry-leading solution. The method of using a second passport and then obtaining residency in a third country, so that people can use the most liberal flexibility in various situations in the future. Recently, due to international tensions and aggravation, the European energy problem caused by inflation, some people began to pay attention to the countries of South America, on the one hand, the low cost of living, international relations are not as tense as between the big countries, but also and the United States in the same time zone, for those who have family members in North America, it is easier to keep in touch with, and more importantly, when the cost of permanent residency in South America in general than in Europe is also a lot lower. If you want to pick a South American country where it is easy to get residency and then get a passport, Paraguay may be the ideal choice for you. In this article, we will guide you through the process of obtaining residency in Paraguay after a second passport, how to take advantage of tax benefits, and how to become a naturalized citizen of the country within three years. As an international citizen with three passports.
Caribbean Passport Dominica Passport St. Kitts Passport
St. Kitts was the first country in the world to legally sell its citizenship after the Citizenship by Investment program was introduced in 1984, allowing foreigners to use their St. Kitts passports without a visa.Entry into nearly 160 countriesThe St. Kitts approach has transformed the immigrant investor industry over the past 30 years, becoming a model for fast-track naturalization programs, and in 1993.Dominican RepublicSection 101 of the Constitution and amendments to Section 8 and 20(1) of the Citizenship Act legally defined the Citizenship by Investment (CI) scheme and began a whole new Commonwealth of Nations.Dominica Citizenship ProgramThe program has improved St. Kitts' background checks, making it the most highly rated Citizenship by Investment program for the past five years in a row. Investors are able to make donations orReal Estate InvestmentTwo ways of acquiring Dominican citizenship, with the issuance of a Certificate of Naturalization and a certificate of naturalization.Dominica PassportThe Dominica Citizenship by Investment Unit (CBIU) is part of the Ministry of Finance. The Dominica Citizenship by Investment Unit (CBIU), which is part of the Ministry of Finance, is responsible for all operations of this naturalization and passport program, which has beenBest naturalization program in the world for five consecutive yearsThe
Permanent residence and citizenship in Paraguay
Why permanent residence and citizenship in Paraguay?
- With Paraguayan residency, it is possible to live, work and study in Paraguay.
- There is no immigration control to require maintenance of status. One day in Paraguay every three years is sufficient to maintain your residency.
- Individuals with income over $22,500 for domestic use are not taxed.
- No tax on overseas income
- Corporate tax only 10%
- Paraguay is a stable South American country with one of the highest GDP growth rates in the world.
- Paraguay is a member of the Mercado Común del Sur (South American Common Market Agreement MERCOSUR), whose Permanent Residence Card allows the holder to live in Argentina, Brazil, Bolivia, Chile, Colombia, Ecuador, Peru, and Uruguay under the MERCOSUR Residency Agreement.
Ways of obtaining residency in Paraguay
Obtaining permanent residency in Paraguay is a simple and straightforward process with a variety of options, such as bank deposits, investments or proof of retirement. Applicants who have been issued a Dominica or St. Kitts passport will almost always meet the requirements for applying for their right to stay in Paraguay.
Documents required to apply for permanent residence in Paraguay
The documentation for naturalization in the Caribbean will suffice
- With Paraguayan residency, it is possible to live, work and study in Paraguay.
- Only one visit to Paraguay is required every three years.
- Individuals with income over $22,500 for domestic use are not taxed.
- No tax on overseas income
- Corporate tax only 10%
- Paraguay is a stable South American country with one of the highest GDP growth rates in the world.
- Paraguay is a member of the Mercado Común del Sur (South American Common Market Agreement MERCOSUR), whose Permanent Residence Card allows the holder to live in Argentina, Brazil, Bolivia, Chile, Colombia, Ecuador, Peru, and Uruguay under the MERCOSUR Residency Agreement.
Ways of obtaining residency in Paraguay
Obtaining permanent residency in Paraguay is a simple and straightforward process with a variety of options, such as bank deposits, investments or proof of retirement. The application process can take up to 90 days, but normally the Ministry will issue a residence permit within 70 days and residents must apply for an ID card within six months of being granted permanent residence. In our experience, successful applicants for a Dominica or St. Kitts passport almost always meet the requirements for applying for their right of abode in Paraguay. (ReferenceDocuments required to obtain a Caribbean passportThe following is a list of the documents required to obtain the right of abode in Paraguay:
- passport
- Certificate of no criminal record
- birth certificate
- Marriage/divorce certificates
- medical insurance
- Residential address in Paraguay
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Pathways to permanent residency in Paraguay
Deposit $4,400
The Paraguay Permanent Residence Permit solution is the most affordable, straightforward and low-tax jurisdiction in 2022. Additionally, the official immigration process for obtaining a Paraguay Permanent Residency Permit can take less than three months. Additionally, foreign income for Paraguayan permanent residents is tax-free, and residency status can be maintained without a continuous personal presence in Paraguay. However, permanent residents must visit Paraguay every three years to maintain status. Those who choose this option are required to provide proof of solvency in the form of a deposit in the amount of. 30,817,850 PYG (approximately 4,200 Euros, depending on the current exchange rate of the Paraguayan Guaraní). The amount is deposited in a Migrations bank account in the National Bank and can be withdrawn after the migration process).
Company Formation - Paraguay Investment Residency Program
The Paraguayan Investment Residency Program is the most affordable immigration solution for South American investors. The required investment is $70,000 and you have ten years to use it for your business or investment project. The investment can be made after the investor arrives in Paraguay in order to complete the investment, the applicant first obtains a Paraguayan Investment Visa to enter Paraguay, and then establishes a company and applies for permanent residence.
Register as an investor
This is the fastest way to obtain a permanent resident's permit in Paraguay, and the applicant is only required to submit US$5,000 as proof of financial capacity during the status process, which is handled by the Ministry of Industry and Commerce's Unified System of Opening and Closing Companies (OFFICE OF SUACE: Unified System of Opening and Closing Companies of the Ministry of Industry and Commerce. Ministry of Industry and Commerce.), which aims to provide greater flexibility for resident investors and speed up the immigration process. The Office is under the Ministry of Industry and Commerce and works in cooperation with the Immigration Department. The Ministry of Industry and Commerce is responsible for issuing the registration certificate within a maximum of 8 working days after the application for registration of a foreign investor is submitted to SUACE.
retirement plan
The Paraguayan Retirement Program offers permanent resident status to retirees through the Fast Track Permanent Residency Program; all you need to do is prove that you receive a pension. The minimum amount of the qualifying pension is PYG 8,34,000 per month, which is approximately US$ 1,300.
reach a verdict
Obtaining residency in South America is a straightforward and simple process, and has become an alternative to Europe, Asia, the Middle East and Africa in the reshuffling of immigration programs around the world in the wake of the epidemic. But this is a good thing for people with identity planning needs, because of the increase in the number of options, in the past many people for the poor South America, is now because of its tax and low threshold, attracting North American investors to its investment. However, Chinese investors should consult with professionals beforehand and communicate with them on how to design an identity structure before starting the process, such as tax codes, offshore accounts, offshore companies, or two-tier identity structures and tax jurisdictions and other specialized issues. In addition, there are also several hurdles for South American immigrants:
- login required
- To get a visa.
- Notarization of documents (Paraguay does not have diplomatic relations with China)
- Transit Visa Issues
- multilingualism
Interested parties can contact us first, which can be done hereConsultation by Appointmentor browse ourYouTube Channel.
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Click here to directSchedule a VIP ConsultationDominica Citizenship Program
- The Dominica Citizenship Naturalization Program was established in 1993 A.D. and is one of the oldest naturalization programs in the world.
- passport immigrationApplicants are not required to attend an interview
- Immigration can be processed quickly: the time it takes is about 2-3 months.
- The most cost-effective program for single applicants
- The status can be passed on permanently to the next generation in the direct line.
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