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The Energy-rich Paraguay is located in the heart of South America. It borders Brazil, Argentina, and Bolivia with an area of 406’752 sqm (bigger than Germany or Japan). The Spanish conquistadores arrived in 1524, and in 1537 established the city of Asunción. During the 17th century, Paraguay was the center of Jesuit missions, where the native Guarani people were converted to Christianity and introduced to the European culture.
Today it is a democratic state under rule of law with a three-branch government, a country with two official languages (Spanish and Guarani). A native Amerindian population and the presence of immigrants from all over the world who contributed an extraordinary wealth of cultural manifestations. The population is about 7 million with nearly 3 million living in the capital of Asunción.
All of Paraguay’s electricity is generated by hydropower, making it one of the cleanest in the world. Paraguay is the fifth-largest soybean producer in the world, the second-largest producer of stevia and the ninth-largest exporter of beef. The second largest city, Ciudad del Este, is the third most important free commercial zone in the world, only trailing behind Miami and Hong Kong. Paraguay only taxes locally sourced income obtained for personal income tax. The rates are progressive with a maximum applicable rate of 10%.
Paraguay is a member of the United Nations (UN), OAS and MERCOSUR which provides free movement within member states (Argentina, Brazil, Uruguay).
Foreigners can be admitted to the country directly as permanent residents. Once admitted, one may reside in the country indefinitely.
Candidates may apply for Paraguayan citizenship after 3 years of residence. Those receiving it have full citizens’ rights and the passport is valid for a period of 10 years (renewable upon expiry).
There is no minimum physical presence required to maintain permanent residence.
Citizens enjoy visa-free travel to 141 countries, incl. UK, Schengen, Singapore, Hong Kong, and Japan.
Citizens enjoy visa-free travel to 141 countries, incl. UK, Schengen, Singapore, Hong Kong, and Japan.
Citizen enjoy the right to reside in any other MERCOSUR member country (Argentina, Brazil, Uruguay).
Permanent residents and citizens do not need a passport to travel to most South American countries (a Paraguayan ID card is sufficient).
Direct flights from Europe, North America, Sao Paulo, Buenos Aires, Panama etc.
Direct flights from Europe, North America, Sao Paulo, Buenos Aires, Panama etc.
Asunción
Spanish, Guarani
7,359,000
406,796 km2
The Hon. Philippe A. May is the Swiss-Singaporean founder and CEO of EC Holdings with headquarters in Singapore. He is a qualified Associate Financial Planner (AFP™) and holds a Bachelor’s degree in Business Administration (BBA) and an Executive Diploma in International Diplomatic Law for Honorary Consuls from UNITAR, Geneva. Philippe has extensive experience in International Relations, Private Banking, Insurance and Residence & Citizenship Planning.
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