Why and how you should emigrate to Paraguay?
Emigrating to another country is still a big step. Obviously, technical developments and simplification around communication have all resulted in, and enabled, people experiencing greater closeness to each other. However, uncertainties and unclear rules of how to make this step still exist. Solving these issues are key and finding a seamless transition from the old life to the new life is preferred. Many times, the will power and motivation might be there, but obstacles and hurdles sometimes makes us doubt the change, and sometimes even make us give up. This is no surprise, and it would be strange if it didn’t raise some sort of concern or insecurity when taking a step like this.
The biggest difference between today and the past is that people sacrificed everything to make this step earlier, while people of today’s world make this kind of change for maybe a search for a new experiences or making life slightly more exiting. Its therefore not about giving up things, instead it’s about exploring opportunities and benefits that makes the change worthwhile for an individual.
We have asked one of our customers to explain how he came about getting a permanent residency in Paraguay, and how he also proceeded in the process. For Wayne, it was a decision that had been materializing for a long time, but for others the timeline might vary depending on what drives the person to take the step.
Wayne, can you first tell us a little bit about yourself?
Sure. Let me begin by describing what I do for a living. I have for nearly 30 years been working within the yacht and shipping industry. I started as a 23 year old technicial expert, working mostly in southeast Asia. As time went by, I expanded my global footprint and worked on super yachts all around the world.
What has been the main pros and cons working as a seaman?
Working as a seaman has been a great experience as such, and through this occupation of choice I have gained access to new cultures and people that I absolutely wouldn’t have if I would have stayed on land and in my home country. Today I work on a super yacht as the chief engineer, traveling mostly in the southern hemisphere. It’s an intense job, where you many times experience things that a normal 8-5 job never would, but to be honest most concerns came up after my work was done for the day. Tasks that related to residency, registrations, taxes, and other responsibilities, consequently tasks related to my private life rather than my professional life.
Please elaborate what those issues were, and why you started looking for ways to simplify your way of life?
Firstly, I would like to say that these issues are no new topics. People at sea have always found themselves slightly disregarded when looking at ways to support their way of life. People that work normal jobs, live in one place or location, with a more structured daily life, do not face these issues. However, when you work as a seaman, being at sea for months at the same time, and maybe you are even away a majority of the year, you really don’t belong in any structured system.
For me it was mostly related to taxes and how I legally should comply with my choice of profession, while also doing right for myself. When I wasn’t at work on the yacht, I really didn’t have any preferred place to stay. I lived, and still do, at different places all over the world. You could say that I live like what they today call a digital nomad. Meaning I really don’t have any permanent residency when not at work!
All this led me to start looking for a place where a consideration was given to this kind of lifestyle, meaning granting a residency permit that enable the freedom and flexibility to work and live without complications.
So how did you then end up in the decision to become a permanent resident of Paraguay, and why?
Well, as indicated above, it was clear that I wasn’t alone with this issue. Only on the yacht where I work, more than 10 people have already gotten a permanent residency in Paraguay, and more are already in the process as we speak. They all began by seeking immigration services in Paraguay, trying to get consultancy to immigrate to Paraguay. Many started by looking for a resident visa program that would allow them to get the benefits and a simplified way to carry on their journey.
With the Paraguayan residency permit, we are firstly not required to stay within the country for a minimum time of year to keep our status. Compared with other countries this is unique, and it therefore fits people within my occupation and people that work remotely perfectly. Considering that most seamen are at sea for more than 6 months a year, the general threshold in which a person need to be registered in a country, picking Paraguay as a residency became a no brainer for us.
If you sum up the three most important benefits of why you became a resident in Paraguay, which would those be?
The first and most important benefit for me relates to my tax obligation. Becoming a Paraguayan resident, while earning my income or making capital gains outside of the country, makes me tax exempt. That means that not only do I not have to pay taxes in Paraguay, but also, I don’t have any obligation to pay taxes anywhere else. Hence, this is really a tax haven for people like me, giving a legal platform for earning a living without needing to pay taxes on that income. Obviously, this is one of the greatest benefits of the residency. It’s also important to recognize that people like us generally don’t benefit from any health care or social systems that is formed by tax payments. Our healthcare is mostly covered under our employment contracts, and the rest is unavailable for us when we are at sea anyway.
The second big benefit is around the requirement of not needing to reside permanently in Paraguay to keep my residency status. When working as I do, this is fundamental and critical. I couldn’t find any other place in the world when I was investigating residency alternatives that possess such an exclusive opportunity.
The final benefit I would pick relates to the swiftness and the cost of getting the permanent visa. I initiated this process in January, and approximately two months later I had my residency permit and id card in my hand.
How did you proceed to become a permanent resident in Paraguay?
After reviewing the different possibilities of foreign residency, it really ended up in only one option that could give me the benefits that I was looking for, and that was Paraguay. After searching online for how I could apply for the Paraguayan residency, I soon realized that I needed help with this. The Permanent resident processes are in general complex, independently of where you apply, and when also considering bureaucracy and other cultural aspects, you need someone that knows what they are doing.
I contacted Strategica GmbH, a German provider who had been working with immigration services to Paraguay for years. They were immediately very understanding of my situation after having helped people in similar situations numerous of times before. One of their specialties is in fact to help seamen to clear up their difficulties regarding registrations and taxation.
What would you say to people that are considering becoming a resident of another country?
We all have different reasons for taking this step. For me it was to get clarity and a financially more attractive setup. Others may be purely driven by getting the privilege of freedom and flexibility. During my time in Paraguay, I met people from all around the world. I for example met Swiss people needing a permanent foreign residency that could release and payout their saved pension money to give them the opportunity to expand their personal investments etc. There are unlimited number of reasons I guess, but the thing I would recommend is that the individual puts more focus on Paraguay. I don’t know how many times I have heard about residency programs in Panama, USA, Virgin Islands etc, but when you add all benefits together, also adding the incredible cost to get those residencies, there is nowhere in the world that can be compared to Paraguay.
We would like to thank Wayne for sharing his feedback and his experience relating to becoming a permanent resident in Paraguay.
Strategica have been helping people with permanent residency in Paraguay for years. Its challenging enough to just take the decision to emigrate, and that’s why we are specializing in making this experience as seamless as possible for you. Please don’t hesitate to get in contact with us. We are looking forward hearing from you