APEX Capital Partners experts are often asked how to obtain a Paraguayan passport. Clients assume that Paraguay, as well as Chile and Uruguay, have citizenship by investment programs. However, the laws of these South American countries do not provide for this naturalization option. Let’s look at the situation using Paraguay as an example.
How do you become a citizen and obtain a passport of Paraguay?
- Obtain permanent resident status in Paraguay. For example, through the investment residency program for opening a company with authorized capital of approximately 70 million guaraníes (~10,000 USD).
- Then live in Paraguay for three years. According to Article 148 of the Constitution of the Republic of Paraguay.
- Submit a petition for naturalization (citizenship) to the court. You will need to demonstrate a clean criminal record, knowledge of the Spanish language, and basic principles of the Constitution. You will also need to provide proof of legal income.
- Based on the naturalization certificate, a passport of Paraguay is issued.
So, can an investor obtain a passport of Paraguay, Chile, or Uruguay without moving to the country?
APEX Capital Partners experts say it’s impossible. The most likely option is to obtain a residence permit through investment, for example, in Paraguay. But then, you’ll need to move to Paraguay to begin the path to citizenship.
APEX offers an alternative in Central America – Panama’s permanent residence permit for investors. Qualified Investor Visa.
This is a “Golden Visa” for investors, allowing you to immediately obtain permanent residency, bypassing the temporary residency process. And you won’t need to relocate. This is a major advantage of the program.
So, without relocation, after five years you can apply for Panamanian citizenship. This entitles you to visa-free entry to the Schengen countries, the UK, and Japan.
Do I need to visit Panama?
However, you will need to visit Panama during the final stage of the permanent residency application process to submit biometrics. Subsequent residency requirements are minimal: one visit to the country every two years to maintain your status and reissue (extend) your local ID card.
The key investment option of the Qualified Investor Visa program is the purchase of real estate worth at least $300,000.
An alternative investment option is the purchase of Panamanian securities worth at least $500,000.
APEX Capital Partners experts will provide full on-site support in Panama for applying for permanent residency and renewing your ID card every two years. We will also prepare you for the naturalization exam (Panamanian citizenship).
