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Second Passport

How to Get Second Residence in Paraguay: The Ultimate Guide

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Welcome to the ultimate guide on how to get a second residence in Paraguay. This comprehensive guide allows you to explore the finest travel and international investment opportunities in this South American country.

In this guide, you’ll discover the advantages of securing a second residence in Paraguay, including its stable economy, low taxes, and attractive residency programs.

We’ll also provide you with valuable insights, ensuring you maximize your global mobility and investment potential in this emerging market.

Ready to elevate your global lifestyle and diversify your investment portfolio? Contact us today at Nomad Capitalist for a wealth of expert advice, and join a network of successful, like-minded individuals who are embracing the benefits of second residence around the globe and going where you’re treated best.

Second Residence in Paraguay

Why Choose Paraguay?

Paraguay sits at the heart of South America. Its population is over 7 million people and it offers a warm climate and diverse landscapes.

Without a doubt, Paraguay is a stunning destination that thousands of travelers swear by.

Quality of life is an important factor for any second residence seeker. Paraguay offers a low cost of living, excellent healthcare, and a warm, welcoming culture. It’s the ideal location to enjoy a relaxing and laid-back lifestyle.

Paraguay has minimal physical presence requirements for residence. Plus, after just three years of permanent residence, you can apply to become a citizen, making Paraguay an excellent second citizenship option.

Taxation is another major draw for high-net-worth individuals. Paraguay has a simple taxation system and attractive tax rates, which are some of the lowest in the region.

With the country’s efficient and simple taxation system, you can keep more of your hard-earned money and enjoy the benefits of residency.

Finally, let’s talk investment prospects. Paraguay’s growing economy offers exciting opportunities in agriculture, real estate, and manufacturing.

Establishing a second residence here could be the key to unlocking untapped potential for your investment portfolio.

All things considered, Paraguay presents a compelling case for those seeking a second residence that offers an excellent quality of life, favorable taxation, and promising investment opportunities.

Why Choose Paraguay

How to Acquire Temporary Residency in Paraguay

If your goal is to stay in Paraguay for more extended periods than what a tourist visa allows, you can apply for temporary residence.

The residence permit lasts one year and can be renewed five times, allowing six years of residency in Paraguay.

The required documents are the following:

  • Original and copy of a non­-expired ID of the country of origin, notarized by a notary public, accompanied by proof of entry, or a passport with an entry stamp to Paraguay, plus visa
  • Original and notarized copy of your current Criminal Record from your country of origin
  • Original and notarized copy of your birth certificate endorsed by the Paraguayan Consulate in your country of origin and legalized in the Ministry of Foreign Affairs of Paraguay
  • Original and notarized copy of your marriage certificate, a divorce decree, or death certificate
  • Original and notarized copy of your medical certificate issued by a General Practitioner authorized by the Ministry of Public Health and Social Welfare, establishing your good physical and mental health and lack of contagious diseases
  • Original and notarized copy of a non­-expired Certificate of Life and Residence issued by a local police station in Paraguay
  • Proof of solvency
  • If a student, an original and notarized copy of the Certificate of Studies abroad, endorsed by the Paraguayan Consulate in your country of origin and legalized by the Ministry of Foreign Affairs in Paraguay
  • If an employee, an original and notarized copy of your Deferred Performance Labor Contract with a certified signature, attaching a certified copy of the Municipal Patent, Taxpayer Registration Number (RUC), and sworn statement (SET) of the last three months, and ID of the employer
  • If a company, a notarized copy of the Articles of Incorporation, with the Seals of Public Records
  • If a technical professional, a notarized copy of your professional title, along with a sworn statement before a public notary with a signature and an average monthly income
  • If an athlete, an original and notarized copy of your Deferred Labor Contract with signature certification, attaching a certified copy of the Statute of the Entity, the RUC, and the contractor’s details
  • If a religious individual, an original and notarized copy of the Congregation’s Proof of Existence and a Certificate from the Vice Ministry of Culture.

With no added legal and agency fees, the processing costs are PYG 1,848,820.22 ($260), and the estimated residence card delivery time is 90 days.

The immigration process in Paraguay is less taxing than in other countries

How to Obtain Permanent Residency in Paraguay

Paraguay’s permanent residency program allows you to enter the country and engage in various activities that the government deems beneficial to the country’s growth.

This residency card expires in five years, but it’s renewable for another five years.

The required documents for applying for permanent residency in Paraguay are the following:

  • Original and legalized copy of your ID (passport or other)
  • Original and legalized copies of police or court Records from your country of origin
  • Original and legalized copy of your birth certificate
  • Original and legalized copy of your civil state certificate (married, divorced, separated, widowed)
  • Original and legalized copy of your medical certificate from your country of origin or of the last residence
  • Original and legalized copy of a consular tourist visa, if necessary
  • Proof of economic solvency statement by way of a minimum $5,000 bank deposit in the Paraguayan Central Bank or any other commercial bank account, real estate deed for a Paraguayan property, or university diploma, or work contract with salary details, or evidence of monthly retirement income
  • Paraguay document issued by the National Police, Identifications Department of Paraguay
  • Interpol certificate issued by the regional office in Asunción, Paraguay
  • Life and residence certificate issued by the jurisdictional police station
  • Proof of legal entrance to the country (visa or stamped passport) issued by the immigration authorities at the airport or border control posts
  • Six color passport-sized photographs
  • Affidavit confirming you will abide by the laws of the country signed by a Notary Public.

The permanent residency processing costs are PYG 1,216,040 ($260), and the estimated residence card delivery time is 90 days.

If you are away from Paraguay for more than three out of the five years, the National Police will be alerted, and they will cancel your Paraguay permanent residency.

How to Obtain Permanent Residency in Paraguay

Benefits Of Second Residency In Paraguay

Residence by Investment Program in Paraguay

There’s another way to secure permanent residency in Paraguay. It is through an investment program available to foreign investors who don’t have visa-free travel to the country.

This program allows you to become a permanent resident by either buying agricultural land or property, or by opening a company through an investment program that guarantees permanent residence in Paraguay.

The program’s minimum investment is $70,000 in contributed capital which can be invested over ten years.

The best part? You can receive your permit in just 20 days, thanks to the streamlined procedure offered by the Unified System of Opening and Closing Companies (SUACE).

Relocate Your Tax Residence

Residents celebrate Paraguay for the country’s tax benefits. There are no CFC rules in the country. Neither is there any inheritance tax, net worth tax, or transfer tax in Paraguay.

Paraguay’s tax residents only pay a 10% tax rate on capital gains, investment income, and personal income. The country levies real property tax at 1% of the property’s cadastral value.

In terms of corporate taxation, further tax benefits see resident entities subject to tax on income derived from Paraguay at a flat rate of 10%. However, Paraguay’s territorial tax system ensures offshore revenues remain non-taxable.

Most residents do not pay income tax because their annual income is within the tax-friendly minimal threshold.

As a tax resident, you’ll need to file VAT on a monthly basis. By obtaining your RUC, you’ll gain access to Marangatu, the online tax system.

Now, when it comes to foreign-sourced income, you can simply enter a big, fat zero each month, and that’s all there is to it.

Relocate Your Tax Residence, Paraguay

A Permanent Residence Permit is a Way to Citizenship in Paraguay

Did you know that you can acquire dual citizenship in Paraguay after holding a permanent residence permit for three years?

Paraguay allows dual citizenship, but whether or not it’s right for you is something you should discuss with an immigration attorney, or better yet, get more broad advice on multiple jurisdictions as a Nomad Capitalist client.

Acquiring a Paraguayan passport offers a range of benefits. These include visa-free travel and visa-on-arrival access to 143 countries.

Another excellent benefit of Paraguay citizenship is that you can easily move to other Mercosur countries, such as Argentina, Brazil, or Uruguay. This is a significant advantage, given that Mercosur is the South American Common Market, which generates a nominal GDP of around $2.7 trillion, making it an attractive investment destination.

However, it’s worth noting that Paraguay citizenship does come with some requirements. It requires you to spend at least 183 days per year in Paraguay, learn Spanish, and pick up some lessons on Paraguay’s history.

Territorial Taxation & Fast-Track Citizenship

Securing a second residence in Paraguay can be a life-changing decision, offering an incredible quality of life, attractive tax benefits, and exciting investment opportunities.

It’s one of the safest and most affordable countries in Latin America with a territorial taxation system.

It’s also a perfect plan B option since its residence program has low physical presence requirements and offers a path to citizenship after just three years of permanent residence.

For more expert advice and resources on global residency, citizenship, and investment opportunities, contact us at Nomad Capitalist.

Our team is ready to help you navigate the world of second residencies in a wide selection of countries, ensuring you make the most of your unique lifestyle and financial goals.

Paraguay Residence FAQ

What are the Requirements for Obtaining a Second Residence in Paraguay?

The requirements for obtaining a second residence in Paraguay vary depending on the type of visa you apply for. However, some of the general requirements include a valid passport, a clean criminal record, and proof of financial solvency.

How Long Does It Take to Obtain a Second Residence in Paraguay?

It depends on several factors, such as the type of visa you apply for and how quickly you can provide all of the required documentation.

Can I Work in Paraguay with a Second Residence Visa?

Yes, you can work in Paraguay with a second residence visa.

Can I Bring My Family with Me if I Obtain a Second Residence in Paraguay?

Yes, you can bring your family with you if you obtain a second residence in Paraguay.

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