Paraguay
Energy-rich Paraguay is located in the heart of South America. It borders Brazil, Argentina and Bolivia with an area of 406’752 sqm (bigger than Germany or Japan). Spanish conquistadores arrived in 1524, and in 1537 established the city of Asunción. During the 17th century, Paraguay was the center of Jesuit missions, where the native Guarani people were converted to Christianity and introduced to European culture.
Today it is a democratic state under rule of law with a three-branch government, a country with two official languages (Spanish and Guarani). A native Amerindian population and the presence of immigrants from all over the world who contributed an extraordinary wealth of cultural manifestations. The population is about 7 million of which nearly 3 million of whom live in the capital of Asunción.
All of Paraguay’s electricity is generated by hydropower, making it one of the cleanest in the world. Paraguay is the fifth-largest soybean producer in the world, the second-largest producer of stevia and the ninth-largest exporter of beef. The second largest city, Ciudad del Este, is the third most important free commercial zone in the world, only trailing behind Miami and Hong Kong. Paraguay only taxes locally sourced income obtained for personal income tax. The rates are progressive with a maximum applicable rate of 10%.
Paraguay is a member of the United Nations (UN), OAS and MERCOSUR which provides free movement within member states (Argentina, Brazil, Uruguay).
Program Features
Processing time 2-3 months
Applicants must be physically present
Birth, and marriage or divorce certificates are required; certificates of criminal or police record from the country of origin and residence for the last 5 years.
Documents must be apostilled (if the issuing country is a signatory of the Hague Convention) or, if not, attested by a Paraguayan consulate abroad.
A certificate from a bank in Paraguay is required to confirm the deposit of the minimum amount of 350 daily wages. In case of not having an account, an applicant must deposit the amount in the National Development Bank.
Benefits
There is no minimum physical presence required to maintain permanent residence.
Citizens enjoy visa-free travel to 141 countries, incl. UK, Schengen, Singapore, Hong Kong, and Japan.
Citizen enjoy the right to reside in any other MERCOSUR member country (Argentina, Brazil, Uruguay).
Permanent residents and citizens do not need a passport to travel to most South American countries (a Paraguayan ID card is sufficient).
Direct flights from Europe, North America, Sao Paulo, Buenos Aires, Panama etc.
Key facts
Capital City : Asunción
Languages : Spanish, Guarani
Currency : Guaraní (PYG)
Population : 7,359,000
Time Zone : UTC −4 (PYT)
Area : 406,796 km2
