Latin America is a peaceful and quiet place against the background of other regions of the world. You are going to feel much safer if you relocate to one of the Latin American countries for a while (or for good). Below we consider two countries in South America that you should consider in the first place: Paraguay and Uruguay. Both of them offer attractive immigration opportunities.
Europe and North America have been playing dominant roles in the investment immigration market. Caribbean and Turkish citizenship-by-investment programs have been their only competitors. However, as geopolitical tensions are becoming more intense, wealthy individuals start looking for golden passport programs available elsewhere. And their eyes turn to Latin America.
Latin American countries are self-sufficient in terms of natural resources and what is especially important is that they are located outside conflict zones. In addition to that, some of them offer affordable immigration opportunities.
Two routes to citizenship of Paraguay: Cedula and SUACE program
Those following the ideology of global citizenship will find that Paraguay has a highly transparent and not overly demanding immigration program. You can acquire legal residence and then citizenship of Paraguay in two ways:
- By obtaining a Cedula that is a national identification document;
- By applying to the SUACE (Sistema Unificado de Apertura y Cierre de Empresas) program.
It is easy for a foreigner to qualify for a Cedula de Identidad in Paraguay. You have to confirm that you are planning to do one of the following things and the document will be issued to you:
- Open a business venture in Paraguay;
- Work in Paraguay in your area of specialization;
- Or simply move to Paraguay as a financially independent person who has enough money for a living and who is not going to become a burden for the state budget.
A successful applicant can obtain a two-year residence permit and he or she will not have to live in Paraguay all the time in order to keep the status of a legal resident. If you are planning to apply for citizenship later, however, you should at least visit Paraguay often or, better still, spend a considerable amount of time in the country over the first two years of holding the permit.
Your chances to become a citizen of Paraguay will also improve if you establish ‘close ties’ with the country. The following items will counts as ‘close ties’ with Paraguay:
- A company registered in Paraguay in your name;
- Rent of purchase of a piece of property that will serve as your residential address in Paraguay;
- Membership in a Paraguayan club;
- Enrolment into Spanish Language courses.
After living on a temporary residence permit for two years, you can apply for a permanent residence permit. Please note, however, that you will have to demonstrate that you do need such a permit. That is to say, you will have to demonstrate having tries with Paraguay.
Your permanent residence permit will make you qualified for:
- Living in Paraguay;
- Working in Paraguay;
- Studying in Paraguay.
You don’t have to pay anything to qualify for a residence permit in Paraguay (the Cedula issuance fee is negligible), which means that you can relocate to the country at no extra cost. And the cost of living in Paraguay is considerably lower than the cost of living in the USA, for example.
The SUACE program is the second immigration route to Paraguay. A successful applicant will qualify for a 10-year residence permit but an investment of US$ 70,000 into business in Paraguay is required.
The SUACE option will suit entrepreneurs who want to expand their business operations and enter the Paraguayan and South America markets. At the same time, this is not the best option if you simply want to have a ‘spare’ residence permit.
The required investment of US$ 70,000 is not the only condition that you have to meet. In addition to that, you will have to create 5 new jobs in Paraguay to qualify for a 10-year residence permit. This means that you would have to engage in some serious business in Paraguay if you chose the SAUCE option.
We must admit that the ‘price’ of a 10-year residence permit is lower in Paraguay than it is in many other places. With the Cedula option, however, you have to pay very little. Then the following question arises: Why pay anything when you can pay nothing?
Well, if you have already made up your mind to invest in Paraguay and live there permanently, of course you can apply to the SAUCE program. Why not? But de-facto, a Cedula will bring you the same advantages.
At the same time, the SUACE option is a faster way to Paraguayan citizenship if this is your ultimate goal. A SAUCE card holder can apply for citizenship after living in Paraguay for 3 years. You will have to spend 6+ months in Paraguay every year and be a tax resident of the country to become eligible for citizenship. If you choose the Cedula option, you can apply for citizenship after 5 years (two years of temporary residence + 3 years of permanent residence).
We have to make an important note at this point. The Paraguayan authorities decide what foreigners are worthy of becoming citizens of the country. In other words, their judgments are subjective and acquisition of Paraguayan citizenship cannot be guaranteed even if you spend years and years living in the country.
Please also mind that if somebody tells you that instant citizenship by investment is available in Paraguay, they are lying. No such opportunity exists.
Conclusions. Of the two routes to Paraguayan citizenship, the Cedula route is preferable in most cases. The advantage of the SAUCE route is the opportunity to acquire citizenship of Paraguay in a faster way. However, investments into business are required.
Legal residence in Uruguay
The neighboring country of Uruguay also offers attractive immigration opportunities. The local immigration program is extremely simple. All you have to do is the following:
- Declare your intention to live in Uruguay;
- Prove your solvency.
To begin with, you will be issued a two-year temporary residence permit. You can use the time to go through the procedure of acquiring permanent residence in Uruguay. The procedure is usually extended over 6 to 12 months.
You have to live in Uruguay for at least 6 months before you can qualify for a permanent residence permit. Married people can apply for citizenship of Uruguay after holding the permanent residence permit for three years. Single people can apply for citizenship after five years. In both cases, you have to spend 6+ months in the country each year and be its tax resident. Yes, as simple as that.
The Uruguayan program is especially popular with Spanish-speaking people from other countries as well as citizens of the United States. The living standards are considerably higher in Uruguay than they are in Paraguay. Paraguay would be splendid for those who prefer a slow-paced countryside lifestyle. Uruguay, on the contrary, is sometimes referred to as ‘Latin American Switzerland’.
An open market, political stability, a growing economy, and numerous natural wonders make Uruguay attractive for relocation indeed. The fact that becoming a citizen of Uruguay is so simple adds to the country’s attractiveness.
Conclusions. Because of higher living standards, Uruguay may be a more preferable option for wealthier individuals in comparison to Paraguay.
Differences of Paraguay and Uruguay immigration programs from other such programs in Latin America
Similarly to North American countries, Central and South American countries are countries of immigrants. Today, the region continues to attract people from other parts of the world. Some other South American countries offer immigration opportunities too but Paraguay and Uruguay immigration programs look especially attractive because they are:
- fast;
- simple;
- and affordable.
Let’s compare the Paraguay and Uruguay immigration programs to other such programs on the continent by several parameters.
- Investments. Brazil is one of the countries offering residence-by-investment opportunities. You can choose from the following options if you want to become a legal resident of Brazil. First, you can invest US$ 28,000 in an innovative project and create 10 (!) jobs. Second, you can invest US$ 93,000 in regular business. Third, you can invest US$ 126,000 into real property in Brazil. But you don’t have to spend so much money if your intention is to visit Brazil from time to time. Paraguay, Uruguay, and Brazil are all members of Mercosur (the Southern Common Market). This means that a Paraguayan or an Uruguayan Cedula will make your stay in Brazil legal.
- Relocation. Argentina is the second largest country in South America and it also offers immigration opportunities to financially independent foreign nationals. In view of the results of the recent presidential elections in Argentina, however, relocating to the country now would be unwise. The President elect has won the campaign thanks to populistic statements and the measures that he promises to take are radical indeed. You’ll have to see if he walks his talk before you decide to move to Argentina. On the other hand, living in Paraguay is extremely safe. Living in Uruguay is safe and comfortable.
- Naturalization. Three to five years is a short period for naturalization by international standards. The time is going to pass quickly if you like living in the foreign country. And you will love living in both Uruguay and Paraguay.
Conclusions. The Paraguay and Uruguay immigration programs are more balanced and less demanding in comparison to some other immigration programs to be found in South America. Either of the programs would be an optimal choice if you would like to relocate to the continent.
The growing attractiveness of Latin America
The demand for Latin American immigration programs is not very high yet. The programs are not popularized as actively as those available in the EU and the Caribbean. However, their popularity is growing for the following main reasons:
- Geopolitics. Latin America is neutral in the geopolitical arena ridden with tensions elsewhere. The continent has seen a few wars but things have been calm there over quite a few years already. There are no military conflicts in South or Central America at the moment. Latin America is safe for the most part. This is certainly true for Paraguay and Uruguay in any case.
- Freedom of movement across the continent. Mercosur is analogous to the EU in that it allows citizens of several South American countries to freely move to other countries on the continent and settle down there. There are five member states and seven more associated states in Mercosur. In addition to that, it is a common market so by launching a company in Paraguay or Uruguay (both Mercosur member states) you can gain access to a much wider market than the national market. You can freely travel across South America with an Uruguayan passport, for example, and you can freely trade with Brazil, Argentina, and a number of other countries on the continent.
- Lifestyle. Both Paraguay and Uruguay are safe countries offering attractive business opportunities. In addition to that, they offer a relaxed lifestyle in a most beautiful natural environment.
The Paraguay and Uruguay immigration programs allow wealthy individuals to efficiently protect themselves and their families without spending too much money on acquiring legal residence in a foreign country. The demand is growing and people may soon start lining up for South American passports. Don’t wait for too long and strike while the iron is hot!
