There is much misinformation here, mostly because people read unverified garbage on the web rather than actually consulting local lawyers and other experts. Here is an accurate statement from a Paraguayan immigration lawyer:
If there is a treaty in place between your home nation and Paraguay, then dual citizenship is allowed. My information in post #180 is accurate as of a few years ago. You obtain permanent residency, you go back there in three years (learn to speak some Spanish in the meantime) and find a place to live in Paraguay, have your lawyer (a fixer with good political connections) file your application for citizenship, and then live there for a year or so until the Court approves it. It is a good quality passport. I am not sure that I would call this process easy, but it is certainly doable for someone who works remotely and much easier than obtaining citizenship in most countries. The important part is verifying the fixer's past results.
The last thing I personally heard is that the only country that Paraguay has a treaty with is with Spain and Italy.
That user in the expat forum has no fucking idea what he is talking about, and if he really claims to be a lawyer, it just shows you the level of "professionals" you are dealing with in that country.
There are
no treaties with the US, yet.
You could illegally hold unto your previous citizenship regardless, for sure, as it would only be enforceable if they detect it by making stupid mistakes at the border, but technically unless you are not from Spain or Italy, dual citizenship is not allowed.
There has been talks to reform the constitution to make it legal by default, but it is not there yet.
But unless you decide to live in the country forever, I still don't see the benefit of going through all that trouble of getting naturalized
Naturalized citizens will lose their citizenship after 3 years of absence from Paraguay, in that aspect it is almost like a residency in practice... so, if that's the case, wouldn't suffice to just hold into a residency for tax purposes? I just don't see the appeal of going through all that trouble.
