Paraguay is becoming more and more popular with people who wish to relocate to a warm tropical country with affordable costs of living and favorable immigration conditions. This is one of the few states that does not bother providing any kind of temporary residence permits: you obtain the right to permanent residence right from the start, and the passport will be available to you in a few years of living in the country. One more advantage of Paraguay is low tax rates for businesses and individuals, and you will especially appreciate it if you are used to high European taxes. In short, this is definitely a recommendable destination, and in this post, we will explore the costs of living there.
If you need more details, we would like to invite you to our portal where you will find a more in-depth article on Paraguay living expenses, as well as more information about Paraguay and other destinations that are suitable for relocation in 2023. You can also contact our expert and book a free session to discuss your immigration plans and make sure you have made the right decision. We also provide all kinds of services for those who wish to relocate, so we will help you open a local bank account, set up a company, buy real estate, and much more. Our fees are affordable, so do not hesitate to click on the link and talk to us!
Paraguay in Brief
Paraguay is a country with a captivating mix of cultures and a relatively small population (7.1 million) that mainly live in the agglomerations of Asuncion (the capital) and Ciudad del Este. Let’s look at the country’s main features:
- The red tape is optimized
- The taxes are not very high, with the territorial tax system in place
- Diverse society
- The world’s largest underground water reservoir is located here
- You can benefit from progressive relocation policies
- You will find a lot of fertile land here at moderate prices (with agriculture being the country’s main industry)
- Even if you have Paraguay’s passport, you are free to acquire other citizenships as well
- You will find a lot of qualified workforce
- There are a lot of promising investment opportunities
- The economy is prospering, and there are a lot of unused market niches
Obtaining a Passport
The scheme is simple: you make an affordable deposit in return for the country’s permanent residence. In 3 years from the date of becoming a permanent resident, you can apply for a local passport with a minimum physical presence in the country.
Paraguay’s passport offers multiple opportunities, including visits to many states on a visa-free basis (including Schengen countries) and obtaining other citizenships. Children born in the country are granted citizenship automatically.
While you can technically obtain a permanent residence permit by making 2-3 trips to the country, the local authorities may demand the evidence of actual residence in Paraguay. In this case, you will need to live in the country for some time, so the information about the cost of living will be useful.
Food, Entertainment, and Real Estate
The country boasts quite a low cost of groceries, accessible real estate prices, and well-developed infrastructure. Expats say that a couple can live comfortably with a monthly income of 1,000-1,500 US dollars.
Rentals are quite affordable: an 80 sq.m. condominium in the center of Asuncion or Ciudad del Este will cost you 600 to 700 US dollars. If you choose a small town, you will pay 300 US dollars or even less.
If we look at transportation, dining out, and groceries, these cost 60% less than in the US or Europe, 30% less than in Uruguay or Argentina, and 20% less than in Chile or Brazil. Utility bills are much lower than in many other countries. A meal in a mid-range restaurant will cost you 10 US dollars per person, and a pint of beer in a pub is 1.5 US dollars. A movie premiere in the cinema comes at 6 to 7 US dollars.
If you have children, you will be able to give them a good education at a private international school at 2,200 US dollars a year.
It will probably be interesting for you to find out that the average local salary is 320 US dollars – so if you get 2,000 US dollars a month or more, you will live in comfort.
Cafes and Restaurants
Let’s take a closer look at the prices of dining out:
- An affordable lunch in a restaurant: USD 4.11
- A 3-course lunch for 2 people: USD 20.57
- A meal in McDonalds or a similar fast food offer: USD 1.37
- A cappuccino: USD 1.8
Groceries
Here are the average costs in supermarkets:
- 1 liter of ilk: USD 0.8
- 500g of fresh bread: USD 0.69
- 1 kg of white rice: USD 0.87
- 12 eggs: USD 1.67
- 1 kg of local cheese: USD 6.12
- 1 kg of apples: USD 1.71
- 1 pack of Marlboro cigarettes: USD 1.65
Leisure and Entertainment
Let’s see how much you will have to pay to have a good time after work:
- Monthly membership fee in a fitness club per 1 adult: USD 25.12
- Tennis court rental per hour: USD 16.68
- A visit to the cinema to watch a foreign movie: USD 6.86
Expenses on Children
Here is how much you will have to pay if you are planning to relocate with children:
- A monthly fee payable for a private nursery or kindergarten: USD 154.75
- An annual fee for studies at an international elementary school: USD 2,157.33
Clothing and Footwear
Here are the average prices:
- A pair of Levis 501 jeans: USD 46.74
- A summer dress bought in Zara, H&M, and so on: USD 32.63
- A pair of Nike sneakers: USD 73.51
- A pair of men’s leather shoes: USD 66.73
Transportation Costs
Finally, let’s look at the cost of moving around:
- One-way local ticket: USD 0.49
- Monthly pass: USD 26.05
- Minimum taxi fare: USD 0.77
- Taxi fare per 1 km: USD 1.37
- 1 liter of gas: USD 1.10
Conclusion
You can visit our portal to see more about the local prices and compare them to your expectations. Most of our readers find living in Paraguay quite affordable! If you are interested in relocation or obtaining a local passport and need support, you are welcome to contact our expert by following the above link and discuss all the details. Welcome to Asuncion, and become a Paraguayan passport holder in no time!
