How to Get Paraguayan Residency in 2024: A Step-by-Step Guide

Paraguay has emerged as one of the most attractive countries for obtaining a second residency, thanks to its straightforward process and favorable tax system. In this comprehensive guide, we’ll walk you through the steps to acquire Paraguayan residency and explain the differences between temporary and permanent residency options.

Temporary vs. Permanent Residency

Paraguay offers two main types of residency:

1. Temporary Residency

• Valid for 2 years
• Can be renewed and converted into permanent residency
• Requires fewer documents and a simpler process

2. Permanent Residency

• Grants indefinite residence in Paraguay
• Requires renewal every 10 years
• Can be obtained directly through investment or by converting temporary residency

Both temporary and permanent residency provide the same rights, including the ability to acquire a driving license, open a bank account, establish a business, and purchase property.

Obtaining Temporary Residency

The process of obtaining temporary residency in Paraguay typically takes a few weeks and consists of three main stages:

1. Preparing Documents: Before arriving in Paraguay, gather and apostille the necessary documents, which include:

• Background check
• Birth certificate
• Valid passport

2. Processing in Paraguay: Upon arrival, visit the following offices to obtain the temporary residency card (carnet de radicacion temporal):

• Police
• Interpol
• IT Department
• Migration Department

3. Obtaining the ID Card: After receiving the temporary residency card, visit the Paraguayan Police Identification Department to obtain the ID card (cedula).

Acquiring Permanent Residency

There are two main pathways to obtain permanent residency in Paraguay:

1. Converting Temporary to Permanent Residency

• After holding temporary residency for 21 months, you can convert it to permanent residency
• Requires proof of sufficient funds or qualifications to work in Paraguay

2. Residency by Investment

• Directly obtain permanent residency by investing in Paraguay
• Requires a detailed business plan forecasting an investment of $70,000 and the creation of at least five jobs
• Must provide a sworn declaration committing to the investment
• Process takes approximately two months and costs around $550

Minimum Stay Requirements

While Paraguay does not require you to physically live in the country to maintain your residency status, there are some conditions to keep in mind:

• Temporary residents cannot be absent from Paraguay for more than 12 consecutive months without justification
• Permanent residents cannot be absent from Paraguay for more than 36 consecutive months without justification

To retain your residency status, visit Paraguay at least once a year as a temporary resident or once every three years as a permanent resident. Alternatively, you can justify your absence for important reasons, such as work or family necessities, by sending a request before the deadline.

Costs Associated with Paraguayan Residency

The following fees are associated with obtaining Paraguayan residency:

• Temporary Residency (including Precarious Residency and change of category): Gs. 2,577,275
• Fine (Art. 87) Due to the expiration of the period of temporary stay for which it was authorized: Gs. 618,546
• Certificate of Residency: Gs. 206,182

It’s important to note that these fees are subject to change and are accurate as of the latest information provided.

Embrace the Nomadic Lifestyle with Paraguayan Residency

Obtaining Paraguayan residency is an excellent opportunity for those seeking a second residency or looking to take advantage of the country’s favorable tax system. By following the steps outlined in this guide and understanding the differences between temporary and permanent residency, you can embark on your journey to becoming a global nomad with ease.

Remember to properly legalize all required documents through Apostille or Consulate Certification, depending on the country of issuance. Additionally, ensure that all foreign documents are translated into Spanish by a certified translator in Paraguay.

With its straightforward process, attractive benefits, and welcoming atmosphere, Paraguay is an ideal destination for those looking to embrace a nomadic lifestyle and expand their global horizons.

Finally, the Paraguayan community is very welcoming and services to make Paraguayan residency easier like Sweet Home Paraguay, which is a virtual mailbox service that gives you a real residential address.