Best 5 Permanent Residencies to Consider in 2025

Summary

This video discusses the concept of 'Poor Man's Residency' in Paraguay, highlighting how affordable and quick it is to obtain residency there compared to other countries. The process takes only a couple of days, with residency permits arriving within 45 days. While Paraguay is ideal for those with limited resources, the video compares it to other residency options like Mexico and South Africa, which offer more valuable citizenships and better access for people with a higher income. The speaker emphasizes that Paraguay is a bottom-tier option for those seeking greater benefits and rankings in global residency programs.

Takeaways

• 😀 Paraguay offers a 'Poor Man's Residency' option, which is fast and affordable for those with limited income.
• 😀 The residency process in Paraguay is quick, often taking no more than 2 days of physical presence in the country.
• 😀 While Paraguay residency is inexpensive, it is considered a poor choice for those seeking citizenship benefits or dual citizenship.
• 😀 Paraguay does not offer dual citizenship, which limits its appeal for individuals looking for long-term benefits.
• 😀 Mexico and South Africa are recommended alternatives for those with more income, as they offer better passports and citizenship options.
• 😀 The Mexican nationality offers valuable benefits such as the TN visa for the U.S. and the APEC Business Travel Card.
• 😀 South Africa offers a respected passport with a smooth residency process for a modest donation once approved.
• 😀 Residencies in other countries like Panama, Argentina, and Brazil are also viable options, depending on the individual’s goals.
• 😀 Countries like Portugal, Malta, and Argentina offer stronger passports but involve longer processing times and more investment.
• 😀 Paraguay is best suited for individuals with limited financial resources who just need a basic residency status without many additional benefits.

Q & A

What is the main reason why Paraguay is referred to as the 'Poor Man's Residency'?

Paraguay is considered the 'Poor Man's Residency' because it is very affordable and does not require significant qualifying criteria, such as a high income or large bank balance. The process can be completed quickly, often taking just two days in the country.

Why might some people waste time getting Paraguay residency, despite its quick process?

Some agents or attorneys may take longer than necessary, stretching the process to around 45-50 days, which can lead to a frustrating experience and unnecessary delays. However, the process should ideally be completed much quicker.

What are the disadvantages of obtaining Paraguayan citizenship?

One of the main disadvantages of Paraguayan citizenship is that it does not offer dual citizenship, making it less appealing to those who need dual citizenship for various purposes.

Who is the ideal candidate for Paraguay residency?

Paraguay residency is ideal for people with very limited income or those who are looking for an affordable residency option without needing a large financial commitment. It's suitable for individuals who only require a basic residency without focusing on citizenship or advanced tax advantages.

What are some better alternatives to Paraguay residency for those with more financial resources?

For those with more financial resources, better alternatives include Mexico, South Africa, Panama, and in some cases, Argentina and Brazil. These countries offer more benefits, such as stronger passports and better long-term residency options.

Why is Mexico's residency considered a top choice for individuals seeking a second residency?

Mexico offers a relatively simple residency process, with the option for both temporary and permanent residency. It also provides significant benefits once you gain citizenship, including access to the TN work visa with the US and the APEC Business Travel Card.

How does South Africa's residency differ from other countries in terms of reputation?

South Africa's residency offers a well-respected passport, which is important for those seeking a reputable nationality. While the passport itself is not as strong as others, it is obtained through natural means, not by investment or shortcuts.

What is the difference between the residency programs in Portugal and Malta compared to those in Paraguay or South Africa?

Portugal's Golden Visa and Malta's citizenship by investment programs offer stronger passports and longer-term benefits compared to Paraguay or South Africa. However, they take more time and require higher financial investments, making them less accessible for those with limited resources.

What are some residency options for people interested in living in Africa?

In addition to South Africa, individuals interested in Africa can explore options like Mauritius' permanent residency for retirees or the Mishan residency program, which is available with a financial commitment to a local bank account.

What factors should individuals consider when choosing a country for residency?

Individuals should consider their financial situation, the strength of the country's passport, the residency process, and the long-term benefits, such as access to work visas, business opportunities, and the possibility of citizenship. Different countries cater to different needs based on these factors.