Complete Expat Guide Paraguay 2026 : Live & Retire in Paraguay

Paraguay is Latin America's best-kept secret for expats seeking a low-tax, low-cost destination. The country operates on a territorial tax system (only local income is taxed), permanent residency is obtainable in 3 months, and the cost of living is among the lowest in South America. Asunción is a modern, safe capital with a growing expat community.

Updated: 20 May 2026 : Editorial Team, eVisa-Card.com

⚠️ Important 2026 update : Paraguay: Venezuela exemption removed, new exemptions added

From 10 January 2026, the visa exemption for Venezuelan citizens is abolished (1996 decree repealed on national security grounds). From 30 December 2025, new 30-day exemptions are granted to Malaysia and the Philippines. Trinidad & Tobago and the Bahamas (90 days) are pending entry into force. Visa-on-arrival is removed except for Oman and Qatar.

Effective: 30 December 2025 + 10 January 2026

Source: Paraguay MRE

Paraguay at a Glance

Capital	Asunción
Currency	Paraguayan Guaraní (PYG) / USD
Language	Spanish, Guaraní
Monthly cost	~$700-1,400/month

🛂 Visa & Residency Options

Visa Type	Details
Permanent Residency (Residencia Permanente)	Paraguay's flagship path: deposit $5,500 in a Paraguayan bank + monthly income proof of $1,250 (or pension). Permanent residency issued within 60-90 days. No minimum stay requirement once obtained.
Simple Residency (Residencia Simple)	Temporary residency via employment, business or investment. Path to permanent residency.
Jubilado (Retiree)	For retirees with a pension of $1,250/month. Permanent residency. Popular with North American and European retirees.
Investor Visa	Investment in Paraguayan business or real estate. No strict minimum but typically $70,000+ demonstrated.
Visa-Free Entry	US, EU, UK and many other nationalities: 90 days visa-free. Renewable with a short border run.

Step-by-Step Process

Hire a Paraguayan immigration lawyer (budget $500-2,000 total)
Open a Paraguayan bank account and make the $5,500 deposit
Gather documents: passport, police clearance, birth certificate, proof of income
Apostille all foreign documents and translate to Spanish
Submit application to MIGRACIONES (Immigration Department)
Receive temporary certificate within 2-4 weeks
Obtain permanent residency cedula within 60-90 days
Apply for tax residency certificate (for international tax purposes) : optional but valuable

💡 Pro Tip: Paraguay's permanent residency is one of the fastest and cheapest in the world ($5,500 deposit + lawyer fees). Combined with the territorial tax system (no tax on foreign-source income), it's a powerful tax residency option for international entrepreneurs and investors.

🏥 Healthcare in Paraguay

Public Healthcare

Paraguay's public health system (IPS : Instituto de Previsión Social) covers registered workers and their families. Quality is inconsistent : good in Asunción, very limited in rural areas. Emergency hospitals are available but often overcrowded.

Private Healthcare

Private hospitals in Asunción provide the best care: Hospital Bautista, Centro Médico La Costa, Hospital Adventista. Quality is acceptable for routine and moderate care, but complex procedures may require travel to Brazil or Argentina. Costs are very low by international standards.

Typical Costs

Service	Cost
Private GP consultation	$30-60
Specialist consultation	$50-120
Emergency room (private)	$100-400
Hospitalisation (private, per night)	$200-600
Dental cleaning	$30-60
Major dental work	40-60% cheaper than US

ℹ️ Recommended: Most expats use private healthcare in Asunción and maintain international health insurance for serious conditions requiring treatment in Brazil, Argentina or the US.

🛡️ Health Insurance in Paraguay

Private health insurance is not required for residency in Paraguay. However, given the limitations of the local healthcare system for serious conditions, international health insurance is strongly recommended.

Top Providers for Expats

La Consolidada
Paraguay-based insurer. Affordable local plans. Good for routine care in Asunción. From ~$100/month.

Mapfre Paraguay
Regional insurer with local hospital network. From ~$120/month.

Cigna Global
International plan covering Paraguay plus worldwide. Essential for serious conditions requiring travel. From ~$100/month.

SafetyWing
Nomad insurance. Affordable and flexible. Good for shorter stays. From ~$45/month.

AXA Global Healthcare
Comprehensive international plan. Good for high-net-worth expats. From ~$130/month.

💡 Pro Tip: Given that complex medical cases in Paraguay often require travel to São Paulo (Brazil) or Buenos Aires (Argentina), make sure your international health insurance covers treatment in neighbouring countries, not just Paraguay.

🏦 Opening a Bank Account in Paraguay

A Paraguayan bank account is required for the residency deposit ($5,500) and for daily transactions. The process is relatively straightforward compared to other Latin American countries.

Recommended Banks

Banco Continental : Paraguay's largest private bank. Good English support. Recommended for residency applications.

Banco Itaú Paraguay : Brazilian-owned. Strong digital banking, international connections. Popular with Brazilian expats.

Banco GNB Paraguay : Good for account opening. Accepts foreigners with passport only at some branches.

BBVA Paraguay : International bank. Good for wire transfers to/from Spain and Latin America.

Banco Nacional de Fomento : State bank. Most accessible but limited digital services.

Required Documents

Valid passport
Proof of address in Paraguay (rental contract or hotel bill)
Police clearance certificate (some banks)
Proof of income or purpose of account
Initial deposit ($100-$5,500 depending on account type)

Step-by-Step Process

Visit bank branch in person
For residency deposit: open a fixed-term savings account with $5,500
Standard account opening takes 1-3 business days
Receive account number and access for wire transfers
Mobile banking available after account activation

💡 Pro Tip: Banco Continental is the most popular bank for residency purposes among expats. The $5,500 deposit must remain in the account until residency is approved : it earns a small amount of interest in the meantime.

🏠 Buying Property in Paraguay

Paraguay has no restrictions on foreign property ownership. The market is extremely affordable : land and properties in Asunción cost a fraction of comparable Latin American cities. The legal process is straightforward.

Options for Foreigners

Freehold Purchase
Full ownership. No restrictions for foreigners. Standard for all property types.

Agricultural Land
Foreigners can own agricultural land. Paraguay has become a major soy and cattle farming country, with expat farmers from Brazil, Germany and Mennonite communities owning large tracts.

Off-Plan / Development
Growing in Asunción's Villa Morra and Carmelitas neighbourhoods. Lower prices with developer payment plans.

Purchase Process

Obtain a RUC (tax ID) at the SET (tax authority)
Hire a Paraguayan notary (escribano) : manages the whole process
Conduct a title search at the General Directorate of Public Registries
Verify property is free of liens and back taxes (IBI)
Sign the Escritura Pública (purchase deed) before the notary
Register at the Property Registry

Typical Costs

Item	Cost
Property transfer tax	1.5% of sale price
Notary fees	1.5-2% of sale price
Property Registry fee	~$200-500
Annual property tax (IBI)	Very low : typically $100-500/year
Agent commission	3-5% (paid by seller)

💡 Pro Tip: Paraguay is one of South America's most affordable property markets. A 2-bedroom apartment in Asunción's Carmelitas neighbourhood costs $80,000-150,000 : comparable areas in Buenos Aires or Santiago are 3-5× more expensive. Land prices in the countryside start at $500/hectare.

About This Guide

This guide is researched and maintained by the editorial team at eVisa-Card.com. Last updated: 20 May 2026. Always verify current requirements with official government sources and consult a licensed professional before making major decisions.