Permanent Residency through SAUCE

@expat2588 Hello Robert,

I am a Paraguayan immigration attorney and according to what we have recently discussed with the SUACE authorities, they will start controlling more the applications made by foreigners that claim to be investors but actually never make the 70,000 USD investment in Paraguay that they promissed to do when applying for the residence permit.

Business plans could actually change but even though they change, SUACE's goal is that the investment gives Paraguay some sort of benefit, for example by creating jobs for Paraguayans.

Of course in time, if SUACE learns the foreign citizen didn't make the investment as promissed, could inform this to the immigration authorities in order to have the residency revoked. Currently, SUACE does not have the human resources to control this, but they are aiming to have the resources in the long run.

If you require further information, feel free to send my a private message and I will give you my corporate email to keep discussing about this via email.

Kind regards,

Sally

@Sally Romero Hi Sally,

Thank you for your input, it's much appreciated.

I would definitely run the business and invest something if I decided to go the SAUCE route, I'm just worried of the consequences of not reaching the required 70,000 USD within the allowed time frame.

The other option would be a temporary residence for 2 years, but I think it requires a physical presence in the country for 1 year within those initial 2 years in order to be then able to extend it for additional 10 years, if I'm not mistaken.

I would presume it also requires a fiscal presence in Paraguay? And if so, in case I'm only getting income from my home country, would I still be required to fill in taxes in Paraguay despite not having any local source of income?

Thanks,

Robert

@expat2588 Hello Robert,

Well it's not something definitive, things could definitely change and it can take longer to make the full investment, you just have to keep SUACE updated about the progress you are making with your investment.

Regarding the temporary residence, you cannot be absent for more than 365 days, meaning you need to visit Paraguay at least once within a year, but do not need to stay the full year.

It does not require a fiscal presence and you do not need to pay taxes here for incomes that you receive abroad if the services you provide are rendered abroad too and are not exploited in Paraguay by the customer.

Best regards,

Sally

@Sally Romero Thank you Sally.

I've sent you a private message.

Mr. H. of Nomad Capitalist had a Youtube video about Paraguay in the past few days. In particular, on the demise of the residency visa for a $5,000 deposit in the bank.

By beginning of December I submitted my TR application. I am back in my home country for christmas and may go back to Paraguay once the residence has been approved for finalizing the Ceduda

Do we now have more details on the conditions, requirements, process taht will have to be done for going from TR to PR?

one month ago it was still very unclear

Another question. If I decide to invest in a property over 70k, is it necessary to ask for the PR before doing the investment, or can it be done after having invested?

Thanks

Hello Emeric, I am following this thread to see how others may respond. Merry Christmas and a happy / prosperous New Year!

My interest in Paraguay is somewhat tepid, however, I sort of follow the visa action out of curiosity, since Paraguay has had, at least until recently, the reputation as being one of the easiest countries in the world to get permanent residency.

I find it sort of interesting that the Sovereign CEO (SOC), aka the Alpha Male, has planned an event in Asunción in 2023, whereby he is flying a group in so that they can get their temporary residency visas. Of course, SOC got his permanent residency a couple years ago before a temporary visa existed by depositing 5k into a bank account.

What does SOC have to say about this in his Q&A:

Do I have to do that thing where I need to deposit $5,000 into a bank in Paraguay?

No! This is no longer required thanks to a recent law change! Yay!

Personally, I don't see why this qualifies as a "Yay". Per my understanding, the regulations still don't exist for what it takes to become a permanent resident, so there is going to be some uncertainty for a while.

@Sally Romero kindly let me know how I can contact you directly. My email is ***

@Sally Romero hi how can I contact you directly

@mortians Hello You can send her a private message by clicking on her username/photo > send a message.

Regards

Bhavna

Hi Bhavna

@mortians Hello! You can send me a private message by clicking in my name. Email addresses cannot be posted in the forum.