The General Directorate of Migrations announced that they adjusted the demonstration of economic solvency of foreigners under the Permanent Admission process.
According to the official statement: “through DGM Resolution No. 230 dated 05/20/20, the requirements requested for the demonstration of economic solvency of foreigners who apply to a Permanent Admission in Paraguay are modified, to adjust said requirements to the provisions of the Migration Law No. 978/96 for this purpose.”
The effective modifications during the demonstration of economic solvency in Paraguay are the following:
Permanent Filing, Permanent Filing MERCOSUR or Extension of Temporary Filing:
The presentation of the Labor Contract will no longer be admitted as a demonstration of economic solvency. Henceforth, this document will only be accepted to apply to a Temporary Filing.
Foreign citizens covered by the MERCOSUR regime without a professional title (and who wish to apply to a Permanent MERCOSUR File as Employees) will be able to demonstrate financial solvency by presenting the Work Certificate instead of the Deferred Compliance Labor Contract that was admitted above. And they must also jointly present all the corresponding documentation of the contracting company.
The possibility of entering as Employees for the application for Permanent Filing under the Law No. 978/96 on Migrations is ruled out. From now, the foreigner must choose one of the options of demonstration of economic solvency admitted as valid for this type of filing ( Foreigners in general, Professionals, Shareholders, Retirees, etc.) Practically deposit, naturalisation of professional degrees, pension documents, company shares, land rent or purchase, etc.
The modified requirements, tariffs and solutions of demonstration of the economic solvency are available in the “Tramites” section of the official website of Migrations.
How can you demonstrate your economic solvency during the process of applying for the Paraguayan Permanent Residence Permit?
- Deposit of Gs. 29.159.000 in the National Bank
- Naturalisation of Professional degrees
- Rent or purchase of at least ten hectares of land in Paraguay
- Constitution of the company and proof of shares owned.
- Pension document
If you want to know about the detailed process info during your application for the Paraguayan Permanent Residency Permit, click here!