Latin America is an increasingly popular destination for nomads. The idea of a North American or European backpacker wandering around Peru is almost a meme at this point , but there are plenty of people from around the world flocking to places like Mexico, Costa Rica, Chile to settle down. It’s not just retirees either. People of all ages are choosing to live in Latin America for its vibrant cultures, low cost of living and warm weather. If you want to skip doing visa runs every few months and get settled down, here are some of the easiest places in Latin America to do so.
By far, this is one of the easiest residency programs in the entire world, let alone Latin America. Do you happen to have $5,000 USD in the bank or the equivalent in another currency. If you answered yes, then you’re basically done. The country offers a residency by investment program which will allow single applicants to obtain residency by depositing roughly $4,500 into a Paraguayan bank account. Now, of course applicants are expected to pass a health check, a background check and fill out other forms, but as long as you a clean background you should have nothing to worry about.
If you decide you love the country, know that being naturalized could put your other passport in jeopardy. Currently Paraguay only has dual nationality agreements with Italy and Spain, and those from other countries are in almost all circumstances ineligible to obtain Paraguayan citizenship as a second nationality.
If you’re from the United States then Mexico has probably been on your radar for a number of reasons. Maybe you’ve been to Cancun or Cabo San Lucas for a spring break. Maybe you’ve visited Mexico City for work or studied abroad there. In any case, for better or worse you probably either have been to, or know someone who has been to Mexico and you probably have an opinion of it.
Today more and more people in the United States are choosing to live in Mexico, and it’s not just retirees or people of Mexican descent, but even millennials looking for a lower cost-of living and a more relaxed way of life.
Mexico does offer residency under a pretty reasonable set of criteria. You cannot get permanent residency without having maintained temporary residency in Mexico for at least 4 years. In order to gain temporary residency you need to prove your financial solvency by showing that you receive at least $1,620/month in net income.
Argentina is an amazing place. Buenos Aires is a sprawling metropolis with a diverse array of cultural and culinary corridors to explore. Despite having one of the widest Avenue in the world (Avenida 9 De Julio), Buenos Aires is so massive you could spend hours in traffic driving from one side of the city to the other.
In the beginning of the 20th century Argentina was one of the wealthiest and most prosperous countries in the world, so it’s a bit surprising how easy it is to gain permanent residence just 100 years later. The requirements are as straight forward as those of the prior two countries on this list. Like Mexico, you cannot skip straight to permanent residency. In order to become a permanent resident of Argentina you must have been a temporary resident of the country for at least two years.