One of the most appreciable characteristics of Paraguay is its strong political stability plus a considerable economic stability and a great management of the Covid 19 pandemic.
Paraguay has a deep and interesting culture, its climate is really pleasant and its citizens can benefit from a great safety. If we add significant tax benefits, Paraguay can boast of being one of the most attractive States of Latin America.
If you want to obtain your permanent residence in Paraguay, please contact one company that puts at your disposal the experience and the support of its specialist advisors. In this way, you will obtain your permanent residence easily and quickly.
Paraguay and its tax benefits
Foreigners who reside in Paraguay do not have to pay taxes on their income, if income is produced outside Paraguay. The fact of having permanent residence allows foreigners to take advantage of almost all rights as Paraguayan citizens.
In Paraguay, you pay VAT at 10%. However a reduced VAT is also applied (from 2,5% to 5%).
And companies have to pay a tax of 10% on their incomes.
How can you get your permanent residence in Paraguay?
Any person in the world who can cross the Paraguayan border without a visa (UE + United Kingdom, Norway, Switzerland, Turkey, Russia, Ukraine, Georgia, Iceland, U.S. Canada, almost all Latin American nations, Israel, South Corea, South Africa, Singapore and Taiwan) can apply for residence in Paraguay,
This process lasts only a week. If you want to apply for permanent residence, you have to meet some requirements.
For example: you must show a copy of your apostilled Birth Certificate, and your certificated must be translated in Spanish with an apostille and you must also show your apostilled Criminal Record, also translated in Spanish, as well as your Marriage Certificate, if you are married.
You only have to fly once to Paraguay.
As regards the payment, you only need to deposit the sum of USD 5000 at the Banco Nacional de Paraguay, to prove you are solvent. The banknotes must be new and must not be stained.
You can withdraw your money after 4 months, at the time when the Paraguayan authorities will deliver your Identity Card (please, note that we are talking about a biometric Identity Card, that allow you to travel to almost all South American countries without passport).
If you prefer, you can withdraw your deposited money with another fly to Paraguay.
You have also the option to withdraw your Identity Card in person, otherwise we LIP advisors can withdraw it on your behalf and then send it to your address, anywhere in the world.
When you are recognized as resident in Paraguay, you will have the obligation to return to Paraguay only every three years not to lose your status of permanent resident.
The cost of the whole procedure to obtain your residence is less than USD 9000 per person and it can be even less if there are at least 4 persons (the cost does not include journey, stay and translations).
If you also want to obtain your Driving Licence and/or to open a bank account, the cost of each service is calculated separately.
General characteristics of Paraguay
Paraguay is the fifth smallest country of South America
Paraguayan populations is less than 8 million. Paraguay borders Argentine, Brazil and Bolivia.
There are two official languages: Spanish and Guaranì.
The system of governance is presidential and the current president is of the Mario Abdo Benítez Colorado Party. Under Paraguayan Constitution the President cannot be re-elected.
