It is clear that Paraguay is a nation full of opportunity, whether your goals are personal, that is to say, benefitting you and or your family, or business related. It is always important to understand the relocation side of it and how residency in the Latin American nation is an option that must not be overlooked. With the effects of the COVID-19 pandemic extending well beyond the social implications all the way to economic disruption, and Paraguay was no exception.
But, pre-pandemic, Paraguay began to witness growth and development, demonstrating the potential that lies within its borders and when looking to the future, it is clear why residency there is becoming increasingly desirable.
A good starting point is to unpack the idea of residency and what it means, and simply, it is a permission granted to the applicant which allows them to live in the country for a certain period of time.
There are two kinds, firstly there is temporary residency, where a short stay is granted, and secondly there is permanent residency, where the stay is valid until the requisite time has passed for the applicant to be able to apply for citizenship. If we apply this concept to Paraguay, permanent residency in the nation allows you to live and work and use your Paraguayan ID to travel to other nations visa-free.
Documents required for application
As with any residency program, there are requirements that must be met before you can be approved or denied. Typically, aside from age restrictions, there are a number of documents that must be presented by you in order to verify identification as well as clear up any potential issues such as previous criminal records etc.
Below we will outline a list of the main pieces of information you will need to source prior
to making any application:
1. Valid passport
2. Birth certificate
3. Address proof
4. Clearance certificate from both local and Paraguayan police (clean criminal records)
5. Marital status documents
6. Proof of economic solvency
7. Paraguayan medical certificate
8. Paraguay issued sanitary certificate and Affidavit
9. Document provided by the Paraguayan Department of National Police and
Identifications
As the primary language of Paraguay is Spanish, documents originating from your home country, where the language is not Spanish, must be translated and apostilled as well as notarised. As is recommended with most activity involving documents of high importance, making copies is going to provide you with further peace of mind during a process such as this.
Benefits of residency
Let’s be honest, while the requirements are important to know and get to grips with, the advantages are the real deciding factor when looking at residency programs overseas. There are a lot to consider in Paraguay’s case, and some of them will be listed below!
1. Tax residency makes all income from outside Paraguay untaxed
2. No need to live in Paraguay to keep resident status (just visit once every 3 years)
3. After 3 years you can apply for citizenship with 183 days of each of these years spent
living in the country
4. Cost effective
5. Good education and healthcare systems in place
6. There is a lot of open green space to explore and spend time in fresh air
So, if you are interested in finding out more, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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