De Paiva died in 1687 after a visit to his mines and was buried in the Jewish cemetery he had established in Peddanaickenpet, which later became the north Mint Street. In 1670, the Portuguese population in Madras numbered around 3000. Before his death he established "The Colony of Jewish Traders of Madraspatam" with Antonio do Porto, Pedro Pereira and Fernando Mendes Henriques. This enabled more Portuguese Jews, from Leghorn, the Caribbean, London and Amsterdam, to settle in Madras. Coral Merchant Street was named after the Jews' business.