Yes, it is possible to apply directly for permanent residency by investment without going through the process of temporary residency for 2 years.
Under a scheme offered by Paraguay, anyone who meet the requirements and demonstrate that they are qualified investors who would infuse the nation with cash and jobs can get permanent residency right away.
Permanent residency must be renewed every ten years but the right is perpetual. Furthermore, this privilege does not need to be maintained by constant presence in the nation.
In this instance, obtaining residence will require the same set of documentation as for a non-MERCOSUR citizen applying for temporary residency. But the Certificado de Constancia de Inversionista is an extra document that needs to be filled out. According to Law 978/96 Article 34, SUACE is the organization in charge of establishing and shutting down companies in Paraguay, therefore it is SUACE that is issuing this certificate.
The Certificado de Constancia de Inversionista attests to the fulfillment of all prerequisites for eligibility as an investor and the subsequent acquisition of permanent residency. In order to acquire it, you have to come to SUACE with a thorough business plan that comprises:
- $70,000 minimum investment, or the same amount in guaraní.
- At least five people are employed in Paraguay.
- You will also need to provide SUACE with the following documents:
- Application for the Certificado de Constancia de Inversionista
- a certified copy of the incorporation paperwork, if the business has already been founded
- a sworn statement of the company’s creation, in the event that it is not yet running
- Official record attesting to the identity the person with the power to act on the company’s behalf
- Paraguayan interpol issued certificate of criminal record for foreign nationals.
- immigration stamp in a passport or entry visa
- a valid passport
- If all the documentation are in order, SUACE will give the applicant with a document proving their qualification as an investor with the right to permanent residency. You next need to apply to the Department of Migrations for permanent residency with this document and all the other documents.