I love the tax system of Paraguay, simple and friendly. Cons, some people say is a little bit "boring" lol, not for the people who want a luxury lifestyle like Dubai or London.
My understanding is that Paraguay only allows dual citizenship with certain countries..... and the US is not one of them; US citizens must renounce in order to get Paraguayan citizenship.
@@kays1370 OK, but... I have a question. Let's say that a US citizen had a 2nd citizenship... let's say, from Grenada. And let's say that he went to Paraguay to get citizenship-by- naturalization.... but that he only told the Paraguayan authorities about his US citizenship. So yes, they'd require him to renounce his US citizenship in order to get the Paraguayan citizenship; but could the Paraguayan authorities easily find out about his Grenada citizenship (in this example)...?
@@dlukton They probably make you get rid of both I wouldn't know for sure. Personally I would only get residency in Paraguay its permanent and the card expires in like 5 years but you have to return to Paraguay within every 3 years for a short period to keep it active.
@@kays1370 Sure, they'd make you get rid of both.... IF THEY FOUND OUT ABOUT BOTH. But yes.... I would actually LIKE to have documents showing that I'm a legal resident of Paraguay; I can think of a couple of uses for that. Then again, some people say that it's even easier for a US citizen to get a residence permit in Mexico than it is in Paraguay.... and that one need spend very little time in Mexico in order to retain the residence permit (and yes, I understand the tax implications of Mexico vs Paraguay).
The Cedula card is superb. You can travel and live within the Mercousur region with it. Kind of like having access to the Schengen Zone in Europe. @@dlukton
Is Citizenship available for anyone? I had heard that it was only an option for people that already have Citizenship from specific countries such as Spain or Italy.
@@BlackLabelExpat BUT... is it not true that a person from almost any country (e.g., the US or UK or Turkey) would have to renounce his citizenship.... or does the government of Paraguay adopt a very lax attitude towards enforcement of the rules?
If “A” have a Chinese passport and a deposit of $4500, can he still get a permanent residence card now?When he needs to apply for a Paraguayan passport in the future, will he need to giving up his The original nationality?
Hey Irena, I am planning to relocate to Paraguay in a short time, are you able to assist me in getting a resident permit and bank account and setting up a company?
Check to see if you can distribute fund that way. Some countries allow the transfer but some don't. Paraguay does but Peru doesn't. Plus your original residency you will probably still be liable for taxes. Example a US citizen with a company in another country is still liable for taxes with that business in the US if they pay themselves (over $112,000) from that business. In the above scenario I would make sure my income was UNDER $112,000 so that its tax free from the US and go through the steps in Paraguay (HQ location) to cut my business tax to 0%.
I am looking into this currently ... and it isn't SO clear. Paraguay DOES have rules regarding CFC and PE ... so I need to get better clarity. @@kays1370
I don't think it's that difficult to get a residence permit if you can demonstrate recurring income. That said, in order to KEEP the residence permit (after initially getting it), you have to spend a certain amount of time in the country.... 6 or 7 months per year, I believe.
Explains older rules as if current, then without missing a beat explains newer rules, does not say when they changed, does say the difference hardly matters. Perhaps, either way, it is relatively easy and cheap, but this is NOT an acceptable way to offer information. What else might she be getting wrong (and feeling entitled to paper over as not mattering)? In my opinion, this video is not credible as an information source. And I would NEVER work with a person I caught acting like this.
If “A” have a Chinese passport and a deposit of $4500, can he still get a permanent residence card now?When he needs to apply for a Paraguayan passport in the future, will he need to giving up his The original nationality?
I love the tax system of Paraguay, simple and friendly. Cons, some people say is a little bit "boring" lol, not for the people who want a luxury lifestyle like Dubai or London.
You don't have to live there
Boring is great.
Thank you Irena for talking about this great option, especially with everything going on with Chile and Andrew's opinion on Chile
We need a "How To Get Uruguay Residency" video!! You often compare both countries in this channel!!
Argentina is cheaper and better
I thought the temporary residence by deposit in bank was cancelled .
It has been canceled almost 2 years now. No more deposit
Does Paraguay accept dual citizenship?
My understanding is that Paraguay only allows dual citizenship with certain countries..... and the US is not one of them; US citizens must renounce in order to get Paraguayan citizenship.
True Only Spain and Italy can keep their passports. Though you can get permanent residency and utilize the benefits.
@@kays1370 OK, but... I have a question. Let's say that a US citizen had a 2nd citizenship... let's say, from Grenada. And let's say that he went to Paraguay to get citizenship-by- naturalization.... but that he only told the Paraguayan authorities about his US citizenship. So yes, they'd require him to renounce his US citizenship in order to get the Paraguayan citizenship; but could the Paraguayan authorities easily find out about his Grenada citizenship (in this example)...?
@@dlukton They probably make you get rid of both I wouldn't know for sure. Personally I would only get residency in Paraguay its permanent and the card expires in like 5 years but you have to return to Paraguay within every 3 years for a short period to keep it active.
@@kays1370 Sure, they'd make you get rid of both.... IF THEY FOUND OUT ABOUT BOTH.
But yes.... I would actually LIKE to have documents showing that I'm a legal resident of Paraguay; I can think of a couple of uses for that.
Then again, some people say that it's even easier for a US citizen to get a residence permit in Mexico than it is in Paraguay.... and that one need spend very little time in Mexico in order to retain the residence permit (and yes, I understand the tax implications of Mexico vs Paraguay).
The Cedula card is superb. You can travel and live within the Mercousur region with it. Kind of like having access to the Schengen Zone in Europe. @@dlukton
PARAGUAY ❤
Is Citizenship available for anyone? I had heard that it was only an option for people that already have Citizenship from specific countries such as Spain or Italy.
I'm pretty sure your assessment is correct; and US citizens are "S.O.L.". 🙁
It's not like that
@@BlackLabelExpat BUT... is it not true that a person from almost any country (e.g., the US or UK or Turkey) would have to renounce his citizenship.... or does the government of Paraguay adopt a very lax attitude towards enforcement of the rules?
You are allowed dual nationality!!
Expat need to learn the local language, in this case spanish
If “A” have a Chinese passport and a deposit of $4500, can he still get a permanent residence card now?When he needs to apply for a Paraguayan passport in the future, will he need to giving up his The original nationality?
Pretty important as well I think, tax resident in 120 days
Just make sure not to stay in another country for over 180 days yearly and it should be fine.
Hey Irena, I am planning to relocate to Paraguay in a short time, are you able to assist me in getting a resident permit and bank account and setting up a company?
Of course, you can reach out to us through this link and our team will be in touch: nomadcapitalist.com/apply/ 😊
So if I have an European company, distribute dividends into an European account and I'm a resident in Paraguay I don't pay taxes for that money?
You pay tax only over the money earned inside Paraguay. They do not tax foreigner income. And the tax is 10% for everything, IVA, Income, etc
Check to see if you can distribute fund that way. Some countries allow the transfer but some don't. Paraguay does but Peru doesn't. Plus your original residency you will probably still be liable for taxes.
Example a US citizen with a company in another country is still liable for taxes with that business in the US if they pay themselves (over $112,000) from that business.
In the above scenario I would make sure my income was UNDER $112,000 so that its tax free from the US and go through the steps in Paraguay (HQ location) to cut my business tax to 0%.
I am looking into this currently ... and it isn't SO clear. Paraguay DOES have rules regarding CFC and PE ... so I need to get better clarity. @@kays1370
How about residency in El Salvador? Is it possible?
I don't think it's that difficult to get a residence permit if you can demonstrate recurring income. That said, in order to KEEP the residence permit (after initially getting it), you have to spend a certain amount of time in the country.... 6 or 7 months per year, I believe.
Hey here's a mind-blowing idea. LEARN Spanish!
Aprender Español?
Explains older rules as if current, then without missing a beat explains newer rules, does not say when they changed, does say the difference hardly matters. Perhaps, either way, it is relatively easy and cheap, but this is NOT an acceptable way to offer information. What else might she be getting wrong (and feeling entitled to paper over as not mattering)? In my opinion, this video is not credible as an information source. And I would NEVER work with a person I caught acting like this.
You are so beautiful
No
Simp
If “A” have a Chinese passport and a deposit of $4500, can he still get a permanent residence card now?When he needs to apply for a Paraguayan passport in the future, will he need to giving up his The original nationality?
This video is not update. The temporary residence by deposit in bank was cancelled 2 years ago but she doesn't know that.