As more countries are tightening their immigration policies, paraguay citizenship by investment has become an increasingly popular option for global citizens seeking a second passport. Paraguay offers one of the most affordable citizenship by investment programs in the world, with a real estate investment starting from just $70,000. Obtaining paraguayan citizenship gives you visa-free access to over 134 countries, including Russia, Schengen Area and UK. In this article, we will explore the key details of paraguay’s citizenship program and analyze whether it’s a worthwhile investment for your second passport portfolio.
Overview of paraguay’s citizenship by investment program
Paraguay officially launched its citizenship by investment program in 2017, allowing foreign investors to obtain citizenship in exchange for a qualifying real estate, business or donation investment. The minimum investment requirements are: 1) $70,000 for permanent or temporary residency visa; 2) $70,000 for citizenship application. The processing time is about 3-6 months for residency and another 3 years for citizenship application. Applicants must also provide police clearance certificates and pass background checks. The program has straightforward requirements and does not mandate any language test or physical residence. Up to 10 dependents can be included in one application.
Benefits of a paraguayan passport
The Paraguayan passport provides visa-free travel to over 134 destinations, including major countries like Russia, Hong Kong, Panama, Singapore and Israel. It also gives access to the Schengen Area for 90 days as well as UK and Ireland. As a member of Mercosur, Paraguayan citizens can also apply for temporary residence in member states like Brazil and Argentina. The passport currently ranks 33rd on the global passport index. While not the most powerful passport, the paraguayan passport offers good travel freedom at a budget price. It can be a decent emergency passport or complement stronger passports like EU or US.
Requirements and costs of paraguay’s investment program
The qualifying investment options for Paraguay’s program include: 1) Real estate – purchase property worth at least $70,000 and hold for 3 years minimum. 2) Business investment – invest $70,000 into an existing Paraguayan business or establish a new one. 3) Donation – make a $40,000 donation to Paraguay’s National Fund for Public Investment and Development. In addition to the investment, applicants need to pay government fees up to $5,000 per person. The financial requirements are modest compared to other CBI schemes. Professional service fees will also be incurred when hiring consultants to assist the application process.
Paraguay offers one of the most affordable citizenship by investment programs on the market, with flexible investment options starting from just $70,000. For budget-conscious investors seeking visa-free access to Russia, UK and Schengen Area, Paraguay presents an appealing value proposition. While not as powerful as EU or Caribbean passports, Paraguayan citizenship provides good travel mobility at a relatively low cost in fast processing times.