It depends how much convincing you are 😉
I don't hold any banana passport, no worries.
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Paraguay residence - my journey
- Thread starter JohnnyDoe
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You don't need any additional passport if your current one is already allowing you good visa-free travel.
In terms of taxes, with the exception of the U.S. one, all passports are the same, as taxation is based on residence, not on citizenship. However, this might change in the future for EU and UK citizens, so be careful and plan ahead.
If you can get a passport through residence, it doesn't hurt and doesn't cost you anything. Paraguay gives such opportunity, so I plan to eventually become (also) Paraguayan.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Many countries allow you to renounce (to take up another citizenship) and then immediately get it back.
Please note that getting any other passport after you have been naturalised there results in loss of Paraguayan citizenship.
And most important, you need to go back to Paraguay every three years to keep it.
https://en.wikipedia.org/wiki/Paraguayan_nationality_law
Guys please stick to topic. Had to do some cleaning up here.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
For other potential would be applicants, I am a permanent resident of Paraguay. Re: Asuncion flights - it is a feeder airport for Bogota, Panama, Sao Paulo and Rio de Janeiro from where you can go virtually everywhere. Not speaking Spanish is an issue, though, as hardly anybody here can count to 10 in English. I do speak fluent Spanish so no problems.
You can go to any major city. I did my process in Ciudad del Este, arriving from Foz do Iguaçu.
Of course, but you can't do it remotely and I don't know if @NewHorizonsParaguay can assist you in other cities.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I'm very interested in these practical experiences from the standpoint of understanding “as written” in law versus “in practice” in bureaucracy.
Quite cheap for sure. @NewHorizonsParaguay can assist
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
3 years of permanent residence, have strong ties with the country and demonstrate knowledge of Spanish.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Good luck @JohnnyDoe, I'll be over there myself in a week picking up my Cedula and RUC. Not sure if I got scammed but I've had to do two trips to properly establish tax residency in Paraguay.
Dunno if you've figured it out yet or if @NewHorizonsParaguay can help - but how can you get some kind of proof of address / proof of residency sufficient for a US bank account opening? I hear even on longer tenancies, the landlords keep most of the utilities in their own name.
I have no intention of moving to Paraguay just yet, but wouldn't mind getting the tax benefits of a US LLC bank account opened by a Paraguayan tax resident.
Dunno if you've figured it out yet or if @NewHorizonsParaguay can help - but how can you get some kind of proof of address / proof of residency sufficient for a US bank account opening? I hear even on longer tenancies, the landlords keep most of the utilities in their own name.
I have no intention of moving to Paraguay just yet, but wouldn't mind getting the tax benefits of a US LLC bank account opened by a Paraguayan tax resident.
but dangerous as I read.. If we don't speak Spanish, what would be the reason to get the residency if we're not planning to live there? I never get your point guys. thanks
But you have to renounce one citizenship to get the PY passport ? I didn't know this. thank you!
Yes. Unless you have an Italian or Spanish passport.
Check the rules here
https://en.wikipedia.org/wiki/Paraguayan_nationality_law
You will also lose it again if you reacquire you old citizenship (in theory) or if you leave the country for more than 3 years.
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