We remind you that once you obtained a permanent residence in the country you must live and practise a profession in Paraguay and after three years you may ask for citizenship, that gives you the right to a large number of benefits. Let’s see what kind of benefits they are.
In a paper, the esteemed journal “Forbes” recognized that today the second passport is a real necessity, not only for people who have many resources, but also for anyone who needs to increase his/her personal security and also the security of his/her assets. In the midst of all this, there is also the possibility to travel with a greater freedom. To obtain a second passport the most feasible option is to live in Paraguay for three years after having obtained the permanent residence.
What is the current best second passport? According to expert interviewed by Forbes, the answer to that question depends on which citizenship has the person who needs the new document. For example, American people often use investment citizenship programmes in the Caribbean countries, because they think that these islands could be a good place to live in case of any problem. The richest Chinese use Caribbean programmes too, because they know that the passports issued by Saint Kitts and Nevis, Grenada, Dominica and Antigua and Barbuda allow to travel visa-free in more than 130 countries.
At present, however, the best option is to obtain the permanent residence in Paraguay and after three years to apply for a Paraguayan citizenship, if you are willing to live three years in Paraguay. This option is really economic, fast and secure. A large number of European people prefer to use the Paraguayan naturalization citizenship programme, because the financial infrastructures of Paraguay are very advanced. In Paraguay you can set up equity or hedge funds and then benefit from the low taxes you have to pay in this wonderful and safe country.
Forbes analyzed another trend, that is: more and more American and European people choose to live in Paraguay and they even wish to renounce their original citizenship. According to the interviewed expert, in 2017 the number of people who renounced their American citizenship increased by 10% for various reasons; one of these reasons is certainly the high taxes that American and European people have to pay in their countries. American people have to declare all their financial actives, even they live abroad. If a certain person has to pay taxes in the place where he/she lives and he/she has to pay taxes in Washington too, then the U.S. citizenship becomes a problem. In addition, there are the state taxes. The president Donald Trump announced a tax reform, but until it actually enters into force, it is likely that all naturalized American citizen think seriously to renounce their American citizenship.
Today, the most commonly selected option by people who are willing to do business in the U.S and thus need a commercial visa to establish themselves, is to use a Paraguayan passport. This country offers very serious investments. These investments received a very important international legitimacy. With a passport of Paraguay (after having obtained the permanent residence in the country) it is possible to live and invest in every Latin American and Mercosur country and easily obtain an investment visa in the U.S.