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Moving to Paraguay for Permanent Residency: Living Costs, Grocery Prices, and Salaries in 2023

Are you fascinated by the prospect of smooth and efficient immigration to and obtaining permanent residency in Paraguay in 2023? Are you eager to gather valuable insights into the cost of living, grocery prices, real estate, and transportation in the country? If your answer is yes, the search ends right here. We will delve into the intricacies of relocating to the country for permanent residency, while analyzing multiple commonly disregarded issues and costs.

Paraguay, known as the heart of America, offers a plethora of opportunities in the modern era. With its relatively small population and landlocked geography, the country shares borders with Brazil, Argentina, and Bolivia. The result is a captivating blend of cultures in the country and a promising environment for personal and professional growth.

Paraguay

With a population exceeding 7.1 million, Paraguay boasts a vibrant community. Approximately 60% of the country’s residents reside in the bustling urban hubs of Ciudad del Este, a city on the border, and Asunción, the captivating capital known for its wealth of historical and cultural treasures. 

Discover the exceptional features that make Paraguay stand out:

  • favorable fiscal environment with low burdens
  • efficient territorial tax system
  • presence of the world’s largest underground water reservoir
  • accessible and fertile land at affordable prices
  • flourishing economy brimming with untapped market opportunities
  • dynamic and skilled workforce
  • streamlined bureaucracy
  • progressive immigration policies
  • diverse and inclusive society
  • possibility of obtaining multiple citizenships
  • abundance of promising investment prospects.

Finding a new home in Paraguay is an easy journey for immigrants. Those arriving in the country for permanent residency benefit from the local naturalization scheme. By obtaining permanent residency via a deposit and fulfilling a 3-year residence requirement, they have the opportunity to legally acquire citizenship and a passport, with minimal physical presence in the receiving country. 

STEPS TO OBTAIN PERMANENT RESIDENCY IN PARAGUAY

Obtained through permanent residency in the country, the passport of Paraguay offers a wide range of advantages, including visa-free travel to Schengen countries and the option to hold multiple citizenships alongside that of Paraguay. Children born within the jurisdiction automatically become citizens.

Allowing for the swift acquisition of permanent residency with no requirement of continuous residence, Paraguay’s immigration policy is known for its liberal approach. Prospective applicants shall obtain an entry visa, if applicable, from the embassy or consulate. Upon arrival in the country, they will proceed with the permanent residency application. An additional visit is necessary to obtain the permanent residency certificate.

While it is possible to obtain permanent residency in 2 to 3 trips to the country, authorities may require evidence of actual residence for a significant portion of the year. In such cases, applicants need to plan for a physical relocation. In these circumstances, information about the country’s cost of living is vital for all potential recipients of permanent residency in Paraguay.

Your path to permanent residency in Paraguay: food prices, entertainment options, and real estate costs in 2023

How much money do you need to live comfortably in Paraguay? Immigrants who have obtained permanent residency in the country enjoy a nice and easy lifestyle due to the relatively low cost of groceries, well-developed infrastructure, accessible real estate options, and a vibrant recreational scene. Local salaries are comparable to those in some regions of Eastern Europe, but digital nomads, freelancers, and affluent retirees who have settled on permanent residency in Paraguay may achieve a rewarding quality of life. According to expats, a couple with permanent residency in the country will comfortably sustain themselves with a monthly budget of USD 1000 to USD 1500.

Rental prices in Paraguay are highly affordable. Expatriates with permanent residency in the country can expect to pay around USD 600 to USD 700 per month for an 80 sqm condominium in the heart of Asunción or Ciudad del Este. In smaller towns, individuals with permanent residency find excellent properties for less than USD 300 per month.

Permanent residents in Paraguay enjoy unique advantages due to remarkably affordable costs of living compared to neighboring countries and developed nations around the world. Favorable economic conditions in the country result in substantial savings for its residents. Essential groceries, dining out, and transportation expenses in the country are roughly 20% cheaper or lower than in Brazil or Chile, approximately 30% lower than in Uruguay or Argentina, and an impressive 50% to 60% lower than in the United States or France. Paraguay distinguishes itself with remarkably low food costs, encompassing a wide range of necessities like meat, bread, rice, eggs, fruits, vegetables, and even alcoholic beverages. Utility expenses for water and electricity are notably lower here than in many other countries.

This affordability extends to the culinary realm, where enjoying a meal at a mid-range restaurant typically costs less than USD 10 per person. In terms of entertainment, savoring a pint of beer at a local pub averages less than USD 1.5, while attending a highly anticipated international movie premiere in the cinema will cost you an estimated USD 6 to USD 7. The cost of living in Paraguay enables permanent residents to comfortably meet their daily needs while indulging in various leisure activities with no strain on their finances.

Families of expatriates who have obtained permanent residency in Paraguay discover a highly comfortable and welcoming environment in the country. Taking into account monthly fees and registration expenses, the cost of education at a private international school can be as affordable as USD 2,200 per year.

Considering that the average salary in the country is around USD 320, foreign nationals with personal monthly incomes ranging from USD 2,000 to USD 2,500 can expect a significant improvement in their living standards upon relocation to Paraguay for permanent residency.

Is Paraguay a cheap place to live? To provide you with valuable insights, below you will find comprehensive comparative tables with detailed information on prices and costs in the local currency as well as their equivalents in US dollars. 

Average restaurant and cafe bills in Paraguay in 2023

Cross-border tourism is currently witnessing a remarkable upsurge in the country. According to data provided by the World Bank, the influx of visitors to Paraguay soared to 1.077 million people in 2020. The figure represents approximately one-fifth of the nation’s total population. These individuals embarking on their journeys enjoy a vast array of recreational possibilities in the country.

Both tourists and the multitude of expatriates who have opted to establish permanent residency in Paraguay are eager to indulge in the local culinary delights, which abound in hearty dishes and organic foods. What is the average cost of a restaurant lunch in the country? How much does a cappuccino typically cost in Paraguay? You will discover the answers in the following table.

Meal Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Affordable dining options for lunch in a restaurant 30 4.11
Lunch for 2 people at an average-level restaurant consisting of 3 courses 150 20.57
McMeal in McDonald’s or a set of equivalent dishes at a fast-food restaurant 35 4.80
0.5 liter of locally-produced beer 10 1.37
0.33-liter bottle of imported beer 14 1.92
Regular capuccino 13,139.06 1.80
1 0.33-liter bottle of Coca-Cola or Pepsi 6,582.46 0.90
1 0.33-liter bottle of water 4,037.06 0.55

Cost of groceries in Paraguay’s markets and stores in 2023

Have you ever wondered how expatriates living in Paraguay on permanent residency are faring? Well, they’re enjoying a rather satisfying lifestyle at affordable costs in the country, especially when they use local food products to whip up mouthwatering dishes. But let’s discuss grocery shopping. What are the typical prices for essential items like milk, eggs, rice, bread, pasta, and apples in Paraguay? And for those considering a move to the country, what should be the estimated price range for their monthly food budget? All the details and costs can be found in the informative table below.

Foodstuffs Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
1 liter of regular milk 6,861.18 0.80
1 loaf of freshly baked white bread (500g) 5,047.67 0.69
1 kg of white rice 6,353.31 0.87
12 regular eggs 12,196.15 1.67
1 kg of locally-made cheese 44,607.69 6.12
1 kg of skin-off boneless chicken breasts 26,794.89 3.67
1 kg of beef sirloin or an equivalent cut of red meat 42,165.83 5.78
1 kg of apples 12,462.68 1.71
1 kg of bananas 7,186.91 0.99
1 kg of oranges 6,893.66 0.95
1 kg of tomatoes 10,540.91 1.45
1 kg of potatoes 6,621.18 0.91
1 kg of onions 5,432.50 0.74
1 head of lettuce 3,820.83 0.52
1 1.5-liter bottle of water 4,345.54 0.60
1 bottle of wine in the medium price range 39,000.00 5.35
1 0.5-liter bottle of locally-produced beer 6,617.85 0.91
1 0.33-liter bottle of imported beer 11,229.30 1.54
1 pack of Marlboro cigarettes 12 1.65

Recreation and entertainment costs in Paraguay in 2023

The love for leisure and sports is shared by both Paraguayans and expatriates who have chosen to make the country their permanent home. If you’re an expatriate looking to enjoy some entertainment, discover the prices you can expect to pay for a cinema ticket, the cost of a gym membership, or the fees to rent a tennis court in Paraguay. 

Recreation and entertainment Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Fitness club, monthly membership fee for 1 adult 183,232.45 25.12
Tennis court rental fee (1 hour on weekends) 121,666.67 16.68
Ticket price for a foreign film at the cinema (per person) 50 6.86

Things to know before you move to Paraguay as a permanent resident with children

Families considering permanent residency in Paraguay often contemplate monthly expenses and costs associated with child care. How much should you allocate each month for your child’s education in daycare centers, preschools, or international primary schools that cater to foreign students in the country? These are crucial questions that require careful consideration. To assist you with planning, below you will find detailed information on prices and costs of child care and education, taking into account the overall cost of living in Paraguay.

Educational institution Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Private preschool facility (nursery, kindergarten), full-day program, monthly fee per child 1,128,571.43 154.75
Annual fee for one child at an international elementary school 15,733,333.33 2,157.33

Clothing and footwear prices in Paraguay in 2023

Foreign nationals living permanently in the country are eager to explore the prices and costs of various light industry goods. Expatriates in Paraguay express particular interest in the affordability of summer and spring clothing essentials such as jeans, dresses, and sneakers. These versatile wardrobe items are in high demand for everyday wear in tropical climates. To offer a comprehensive understanding, the following table comes with the current prices for the above products in the country.

Clothing or footwear item Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
1 pair of Levis 501 or analogous jeans 340,909.09 46.74
1 summer dress in a well-known retail store such as Zara, H&M, or a similar brand 238 32.63
1 pair of mid-range Nike sneakers 536,119.86 73.51
1 pair of men’s formal leather shoes 486,666.67 66.73

Transportation costs in Paraguay in 2023

What is life like for drivers and expatriates who have made Paraguay their permanent home, relying on public transportation as their primary means of travel in the country? How much do they typically spend on public transportation services, including buses, subways, trains, trams, and taxis? What are the costs involved in purchasing and maintaining a private vehicle? And what is the average cost of filling up a car’s fuel tank in Paraguay?

Ticket and fuel prices, transportation tariffs and rates, plus car prices Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
One-way local ticket 3.6 0.49
Monthly transportation pass (standard fare) 190 26.05
Minimum taxi fare (regular rate) 5.6 0.77
Taxi fare per 1 km (regular rate) 10 1.37
Taxi waiting time per 1 hour (regular rate) 45 6.17
1 liter of gasoline 8,027.81 1.10
Volkswagen Golf 1.4 90 KW Trendline or an equivalent new car 102,101,709.82 14,000.00
Toyota Corolla 1.6l 97kW Comfort or an equivalent new car 176,289,108.80 24,172.44

Key things to know about housing prices in Paraguay in 2023 before you consider a permanent residency move

When you consider a permanent move to Paraguay, it is crucial to understand the housing market and check the rental prices and the cost of purchasing an apartment or a house in the country in 2023. Immigrants from around the world have a keen interest in real estate prices, as they plan to establish their long-term residency in Paraguay.

Property rent and purchase prices Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Monthly rents
1-bedroom apartment in the city center 2,150,781.44 294.91
1-bedroom apartment outside the city center 1,582,091.67 216.93
3-bedroom apartment in the city center 4,834,180.92 662.85
3-bedroom apartment outside the city center 3,304,226.33 453.07
Apartment purchase price
Average price per square meter for an apartment in the city center 9,446,979.02 1,295.35
Average price per square meter for an apartment outside the city center 6,793,833.09 931.56

When it comes to acquiring affordable real estate in Paraguay, look no further than the dynamic city of Asunción. The lively country capital holds a remarkable reputation for its cultural, economic, and political significance. It boasts an impressive selection of appealing properties available at pocket-friendly prices. Sitting on the scenic left bank of the Paraguay River, Asunción is divided into 6 districts, each offering a unique setting for those interested in budget-conscious real estate investments.

Average salary and mortgage costs in Paraguay in 2023

If you’re about to buy property for long-term residency in Paraguay, you may find it necessary to explore mortgage options or ensure a stable income in the country. To provide you with the most recent information, the table below presents updated statistics on salaries and mortgage rates in Paraguay.

Salaries and mortgage rates Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Average monthly net salary (after tax) 2,358,064.54 323.33
Interest rate on 20-year fixed-rate mortgages, expressed as an annual percentage (%) 11 11

Cost of utilities and communication services in Paraguay in 2023

For individuals residing permanently in Paraguay, whether as property owners or renters, there are additional utility expenses to consider. What are the typical monthly expenses for electricity, gas, and water that locals and expatriates bear? What are the associated costs for Internet and communication services in the country? 

Costs of utilities and communication services Prices in Paraguay (in Guaraní, the local currency abbreviated as PYG) Prices in Paraguay (in USD)
Estimated costs for essential utilities (electricity, heating, cooling, water supply, and garbage disposal) for an 85 sqm apartment 389,583.33 53.42
1 minute of talk time on a prepaid local mobile phone plan offered by a local mobile network operator (excluding any discounts and/or promotional plans) 925 0.13
High-speed internet connection (60 Mbps or higher), unlimited access, available through cable or ADSL 161,774.67 22.18

At International Wealth, we greatly appreciate it if you could share your personal experiences of visiting Paraguay and provide us with insights into the average prices for products and services in the specific cities or regions you explored in the country. Your contribution is invaluable in updating our cost of living information and accurate monitoring of inflation trends in Paraguay. By sharing your knowledge, you will help future expatriates make informed decisions and better prepare for this significant undertaking.

If you have any inquiries regarding how to obtain residency permits, permanent residency, tax residency, or citizenship in Paraguay, feel free to contact the International Wealth team at [email protected]. We are always here to assist you.

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