The minimum monthly salary will increase by 11% from July 2023 to 2.2550.000 Gs, according to ABC. Naturally, sooner or later, the Migrations will adjust the deposit amount to the new minimum salary. 

How does increasing the minimum salary affect your permanent residency permit process in Paraguay?

During the permanent residency process in Paraguay, you must prove your solvency. The most common way to do that is a deposit equal to a predetermined amount, which is enough for you to survive. The proof of solvency is now (10.6.22) the minimum salary for 350 days, 30.817.850 Gs (guaranies). 

This is the amount you will deposit to prove your solvency and withdraw it upon receiving the permanent residence permit. There are other ways to prove your solvency as naturalising degrees or showing pension documents, investment through SUACE, etc. However, most of the new settlers in Paraguay prefer to deposit in the National Bank. (btw, you will lose some money during the exchanges and other banking operations related to your deposit, but not a lot)

The deposit amount is regularly adjusted to the minimum salary changes, which happened in July 2021 as well. 

How many times should you pay for the deposit?

It is not that simple if there are more applicants, even if they are one family. Let’s see some examples:

  • one applicant pays one deposit
  • two independent applicants pay two deposit
  • spouses pay one deposit
  • close family pays one deposit
  • an Investor does not pay the deposit
  • the investor’s spouse and family members will pay the deposit. In the case of spouses and children, they pay one deposit. (for the investor, the capital tax serves as proof of solvency, but the family members do not count as investors, so they need a semi-separate process and pay the deposit. 

How can you avoid paying the deposit (as proof of solvency) during the Paraguayan Permanent Residency process? 

  • Suppose you have a University or Superior Technical School degree, then with a sworn oath before a notary, to say you will do your best for Paraguay as a professional. In that case, you do not have to deposit. 
  • Purchasing shares work as well, but the minimum per cent of company ownership you must hold must have a value of the actual deposit amount. So, you must use the same amount.

If you wish to apply for the permanent residence permit of Paraguay under the lower amount of deposit, it’s time to hurry up!

Do you want to become a permanent resident of Paraguay? Contact us for the detailed information here!