Paraguay Permanent Residency by Investment via Film Production
The official law to get immediate permanent residency in Paraguay (SUACE) states that you must invest $70,000 in a local business and create a number of local jobs. The general understanding is usually 5 jobs.
Of course, not everyone wants to create an actual business on the ground. Some agents have been circumventing this by obtaining permanent residency for their clients through real estate-based companies, but this pathway doesn’t necessarily follow the letter of the law.
Typically, people look for a Plan B in Paraguay – so you want your residency to be obtained fully above board so that it’s available when you need it.
How to obtain immediate permanent residency in Paraguay by investing in a film
The Paraguayan government is currently looking to develop their own film sector by offering subsidies, encouraging foreign companies to invest and providing other incentives.
As such, there is now an official option for foreigners to obtain immediate permanent residency by investing $40,000 USD into a film company to fund the production of local films.
The investment money remains in the company, and there will eventually be distributions depending on the performance of the film. The success of the film you invest in is by no means guaranteed – like Hollywood, the industry can produce blockbusters or duds, so it is prudent to think of your investment as a donation, but with the potential for a surprise distribution later on.
Investors will also have to demonstrate a minimum of $80,000 USD in their bank account.
Only the main applicant will receive permanent residency under this procedure. Family members will receive a two-year temporary residency. Processing time takes around two months. Keeping the residency active only takes one visit every three years.
For those looking to take advantage of Paraguay’s territorial tax system and extremely high degrees of personal freedom, this represents one of the easiest paths to securing permanent access to the country.
Ready to fast-track your path to permanent residency in Paraguay?
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$40,000 Film Production Investment
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What if I need a visa to Paraguay?
The applicant will need to go to Paraguay to file the application. In the event the client requires an entry visa, documentation will be collected and given to the government film authority. They will approve the documents and share them with the Ministry of Foreign Affairs to obtain a letter of invitation. One is sent to the client, and the other is sent to the embassy where the client will apply for the visa.
Who is this residency good for?
- Westerners seeking an easy, immediate Plan B in Latin America
- People from developing countries without visa-free access to Paraguay – this represents the easiest way into Paraguay to invest and apply.
- People who fear the laws in Paraguay may change soon and want to guarantee their access sooner rather than later.
Laszlo
Contact Laszlo to learn more about getting PR in Paraguay with this innovative film production option.
Get a personalized consultation with Laszlo, a seasoned expert with nearly 30 years of experience in investment migration, to guide you through the Paraguay residency by investment process.
If you have a Western passport and want to go the usual, slower route by getting temporary residency first, rather speak to Paraguay immigration agent Matt.
Transcript of “Immediate Permanent Residency in Paraguay by Investment “
LADISLAS MAURICE: Hello, everyone. Ladislas of The Wandering Investor. Today, we’ll be discussing how to obtain permanent residency in Paraguay immediately. So, not the normal route, which is to, first, get temporary residency and, after a few years, convert to permanent residency, with a few trips in-between. But here, one trip, permanent residency immediately. We’ll be discussing this with Laszlo.
Laszlo, how are you?
LASZLO: Good-good, thank you so much for the invitation.
SUACE residency program in Paraguay
LADISLAS MAURICE: The program to obtain permanent residency immediately in Paraguay is called SUACE, and the law says that you must invest $70,000 in the Paraguayan economy and create at least local jobs. This is the official law. The problem with this is that not necessarily everyone wants to create an actual physical business on the ground in Paraguay or outsourcing services. What a lot of people have been doing, which is a bit on the gray zone, is they buy real estate and then they get permanent residency this way. Many immigration agents and lawyers are uncomfortable with this route because it doesn’t follow the rule of the law and doesn’t actually really create five jobs. Some immigration agents offer it, and it’s fine, people are getting their PR, others don’t.
Now the risk with such an approach is that, typically, when people go for permanent residency in Paraguay, it’s because they want a Plan B. And if your Plan B rests on shaky foundation, there’s an element of risk that people aren’t necessarily comfortable with.
Getting residency in Paraguay by investing in the film industry
LADISLAS MAURICE: However, that’s not the only way. And I was having a chat a few weeks ago with Laszlo, and he spent time in Paraguay recently, and he told me of another approved way with proper documentation and government endorsement, which is by investing in the local film industry. Laszlo, can you tell us about this option?
LASZLO: Yes. I do not want to make any comments on the property investment side, because it is possible that there would be enough work manpower to be used for the construction, which means that they might be able to satisfy and so on, and so on. Portugal is an open market now, so all in all, many things can be done. I’m not saying anything is illegal, because I’m not saying that, but I would like to talk only about our own solution for that, which, I think, it’s very, very clear.
Paraguay, they had a decision on the Council of Ministers that they want to develop their own film sector the same way as the Czech Republic, Canada, and so on and so on, to give subsidies in many, many ways than to have the development of the local filming industry, or helping foreign film companies to come and to shoot films, because that, don’t forget, making a film requires quite a lot of manpower, by the way, even though the majority of them are non-qualified ones. They’re just needed on the stage in the background to move, and that is why this five-member employment is definitely possible and it’s not a problem.
What the clients are doing, they are investing $40,000 into a film project, which is a film company, and therefore, the manpower requirement is definitely kept. And then we have a special waiver from the Ministry of Culture, who gave the permission to the Audiovisual Paraguay Government Committee to accept these kinds of applications and to grant an immediate permanent residency to the main applicant. When I’m saying immediate, obviously, it takes like two months to get this documentation in order. But otherwise, I think that is also a good thing, that in two-month time, you can be a permanent resident, and you do not have to go through the residency period, a normal temporary residency period.
The necessary investment is $40,000, and the reasoning is that the money would remain in the company. And according to our possibilities, then the money would be added, what is generated as a profit would remain in the company for a certain time. And then, most probably, there will be distributions. But until that time, that is also calculated, again, $70,000 threshold. And by the way, according to the law, the $70,000 investment must be done in 10 years’ time, which, just crazy, because anybody could promise 10 years. And now the Paraguay authorities are cracking down on those people who do not want to invest anything, they are just claiming, they are just promising that they would invest. This is not the case. It’s $40,000 for the main applicant, and then two-month time, permanent residency.
Why get residency in Paraguay?
LASZLO: And if somebody is interested in Paraguay, obviously, there are lots of materials also on your website, with your interviews of why Paraguay, with its territorial tax system. Freedom, we could say that really, it’s one of the freest country for the time being. The Itaipu Dam generates huge amount of electricity, so electricity is not a problem. It has a huge number of arable land, so if somebody wants to have agricultural activities, it’s okay. The manpower, unfortunately, is not as educated as, let’s say, in Argentina or in Uruguay. The government is working on to spend more on the education. Anyway, that’s about the country.
Permanent residency in Paraguay for families
LASZLO: How the system works, if the client and family members, because family members can be also included in the application with a caveat, and that is a kind of a negative sign, that only the main applicant can get permanent residency, and the family members get two years’ temporary residency, which can be renewed all the time. And if they would be living in Paraguay, then they would be able to convert it also to permanent residency. But initially, it’s only the main applicant who gets the permanent residency valid for life. I think, for $40,000 in such a booming country with so many good possibilities, investment possibilities, or really nearly in every aspect of ordinary life, it’s a good place to move. Then, I think, it’s a good idea.
How does an investment in a Paraguayan film work?
LASZLO: The money is invested in films, which are, again, as I mentioned, employs quite a lot of people during the film is made. And we see how the films would be successful. But we all know that the film industry, sometimes, creates very good films and very profitable films, and sometimes, it creates duds, because that happens, I think, in Hollywood also. It is, even though it’s an investment, and it is an investment, and if the clients and the films are going well, then the clients will definitely get a later distribution. But there is a chance that not everything would go well, and the films will not be so easily saleable or will not generate enough income. And in that respect, the return is questionable if they receive any kind of return at all. And if that is the case that somehow this doesn’t work, then maybe the $40,000 will not be an investment, but rather, in economic terms, a donation to the country.
Still, the permanent residency in two months’ time is there. And then even when we consider this $40,000 donation, I mean $40,000 now is really not a lot of money at the end to get such a good stronghold in Paraguay.
How to apply for residency in Paraguay by investment
LASZLO: The applicants, depending on whether they are living in a country which has a visa-free agreement with Paraguay, then if they have the agreement, they can go to Paraguay to file the application, or they have to apply for a visa. We collect the documentation. We give it to the film authority. The government film authority, if they find everything is in order, then they go to the Ministry of Foreign Affairs, and the Ministry of Foreign Affairs issues a letter of invitation. And one is sent to the client, and one is sent to the actual embassy, where the client has to go personally to apply for the visa. Then a special document would be issued, and when they go to Paraguay, they get the visa on arrival.
It might sound complicated, but it’s definitely not complicated, because at the end, it’s just gathering the documents, and we would, in the background, sort everything so that the Ministry of Foreign Affairs is actually inviting those people to come. But they have to go to the embassies, whichever is responsible for the territory.
Where can I get a visa for Paraguay?
LASZLO: Now Paraguay compared to the Caribbean countries, compared to Vanuatu, I think, has a very, very good network because, for example, they have, in the United States, an embassy. They have in Canada, they have, obviously, on Central America and South America. In South Africa, for example, for Africa. They have the United Arab Emirates. They have in Japan, they have in India, also, which could be a good market. Qatar, South Korea, it’s Turkey, United Arab Emirates. In Europe, Austria, Belgium, France, Germany, Italy, Russia, if somebody wants to go there, Spain, United Kingdom.
All in all, the network of the Embassies is very wide, so all in all, if somebody is living in a country which doesn’t have a direct Embassy on the territory, then we might suggest to go to that other country, and then we will sort out the paperwork for them.
LADISLAS MAURICE: Effectively, I see this option as interesting for two types of people. One, Westerners that want a Plan B, that want permanent residency in Paraguay immediately, in a single trip, without having to go two, three times over two-and-a-half years to get the temporary residency to then convert to the permanent residency. And then to keep the permanent residency active is just a single trip every three years to Paraguay. Or, people from developing countries that do not have visa-free access to Paraguay, typically, from Africa, the Middle East, many parts of Asia. This is your way in to Paraguay.
Laszlo can get you full support at your local embassy, or at an embassy nearby to get the visa for you and your family. And then you, as the main applicant, and your family can go to Paraguay, and in a single trip, you as the main applicant get permanent residency and your family temporary residency.
Advantages of permanent residency vs. temporary residency
LASZLO: Yes, exactly. And I have to add something that, sooner or later, governments would wake up to the fact to check of what is the content a foreign country, let’s say, the original country where the client is coming from, what is the residency? How much time do they spend there? But having a permanent residency sounds a much stronger attachment to that country. If anything is questioning that person, I think that the permanent residency is much more valuable than just a simple residency, especially if somebody is reading articles about Paraguay, or how easy it is to get a residency.
All in all, I think that in today’s time, $40,000 investment/donation, I think that is a very, very good proposition. And with that possibility, obviously, the whole Mercosur regional agreement would apply to that person, and then visa-free travel to Argentina, to Brazil, to Chile, and also business possibilities. All in all, I think that this is a very, very well-priced product, even for someone who just thinking of going there, why not have a permanent residency, which is very hard to take away.
LADISLAS MAURICE: Yeah.
LASZLO: Just as simple as this. That’s my opinion.
LADISLAS MAURICE: Absolutely. Look, two things, as you said, Laszlo, before, it’s a high-risk investment without, necessarily, much upside, so people need to be aware of this. Personally, if I were to do this, I mean, I already have permanent residency in Paraguay, I would go in there thinking, this is a donation, and if distributions come to my account later on, then I’d be really happy. I think this is the mentality that people should have when they venture into this.
And point number two, this is immediate PR, but also for all the kind of normal people out there, if I can put it this way, temporary residency and then permanent residency works perfectly well for Westerners, for South Africans, etc. We can help with that process as well.
How to contact Laszlo for permanent residency in Paraguay
LADISLAS MAURICE: There is a link below. You can find all the information on how to obtain permanent residency in Paraguay with that option that Laszlo offers. You’ll also see the letter from the authorities confirming this program, and then also the usual way to obtain residency in Paraguay, which is by starting with temporary residency.
Laszlo, thank you very much for your time today.
LASZLO: That’s excellent. Thank you so much again. Cheers. Bye-bye.