@nomad7 Hello, I’m a Paraguayan attorney.
• Purchasing property does not qualify as investment unless the property will be used to carry out the investment itself. For instance, if it will the office or workshop you are planning to set up in Paraguay.
• You can buy an existing business, but you must prove you are going to invest at least USD 70,000 in it. This can be proved with bank accounts, real estate ownership, etc.
• You need to submit a business plan in which you will state what your investment is going to be about, and that you plan to hire at least 5 employees to work with you. However, if eventually you realize you need to invest less than USD 70,000 to fulfill your purpose, or that you only need 2-3 employees, you just have to inform this to the SUACE. All SUACE wants is to be informed about how the investment is evolving, because there were lots of foreigners who used this method to obtain their papers, and who weren’t actual investors. With time, the immigration office will revoke the residencies that were granted under false pretenses.
• The medical certificate is no longer needed.
Best,
Sally
Buying land in Paraguay
