Sending money to Paraguay & bringing funds for residency

TL;DR

How to move funds into Paraguay without overpaying

• You do not need to wire a deposit for residency. The standard route (Ley 6984/2022) has no investment minimum and no frozen-deposit rule — you only need to *document* solvency, not park money here.
• For living costs and most transfers, Wise beats a bank SWIFT wire on both fee and speed: a US$1,000 transfer costs roughly US$17 at the mid-market rate and usually lands the same day in guaraní.
• Use a traditional SWIFT wire for very large sums (e.g. a property purchase) where the destination bank or seller's escrow requires a same-name bank-to-bank transfer — budget US$15–50 per intermediary and 2–5 business days.
• Hold US$ for big-ticket items, guaraní for daily life. Property and many rentals are priced in dollars; groceries and bills are in guaraní (~6,120 Gs. = US$1, June 2026).
• Carrying more than US$10,000 in cash across the border? File the DNIT electronic customs declaration (Resolución 475/2021). There is no cap on how much you may bring — but undeclared cash can be seized.

Pick the right rail

Wise vs traditional SWIFT bank wire

There is no single "best" way — it depends on the size of the transfer and what the receiving side requires. As a rule of thumb: use Wise (or a similar fintech) for living expenses and mid-size transfers, and a traditional SWIFT bank-to-bank wire when the amount is large or a counterparty (notary, escrow, developer) insists on a same-name bank transfer. All figures below are indicative for June 2026 and move with the market — confirm the live quote before you send.

SWIFT wires can lose money silently: most international wires pass through at least one correspondent bank (an often-cited estimate is ~75%), each able to deduct US$15–50. Ask your bank for "OUR" charges (you pay all fees) so the full amount arrives.

The hidden cost

FX spread is where you actually pay

The visible transfer fee is rarely the biggest cost — the exchange-rate spread is. Banks and Western-Union-style services quote a "no-fee" or low-fee transfer but build a margin into the rate, often 2–4% (some banks more), which on a US$10,000 transfer is US$200–400+ you never see itemised. Wise and a handful of fintechs use the mid-market rate (the rate you see on a currency converter) and charge a transparent fee instead — that is the entire reason they're cheaper. Before any large transfer, compare the guaraní you'll actually receive, not the advertised fee. As of June 2026 the mid-market rate is roughly 6,120 Gs. per US$1; if a provider quotes you materially fewer guaraní than that, the difference is their hidden margin.

Which currency to hold

US dollars vs guaraní (Gs.)

Paraguay runs a comfortable dual-currency economy, so you don't have to convert everything at once. Match the currency to the expense:

• Hold US$ for big-ticket items: real estate is almost universally priced and paid in dollars, as are many longer leases, cars, and developer payment plans. See real estate before you convert a property budget.
• Hold guaraní (Gs.) for daily life: groceries, utilities, restaurants, domestic services, and most rentals under the mid-range are priced in guaraní. Asunción's all-in cost of living runs about US$1,082/month for a single person — see cost of living.
• Don't pre-convert a year of expenses. The guaraní is relatively stable but the rate drifts; convert in tranches as you need it and keep a US$ cushion for large or dollar-denominated purchases.
• ATMs and cards work, but withdrawing guaraní on a foreign card stacks the issuer's FX markup plus ATM fees — for anything beyond pocket money, a transfer to a local account is cheaper.

Crossing the border with cash

The US$10,000 customs declaration rule

Many movers want to bring a cash float for the first few weeks. You may — Paraguay imposes no maximum on how much cash or bearer instruments (cheques, travellers' cheques, bonds) you bring in. What it requires is a declaration above a threshold:

• If you enter or leave with more than US$10,000 (or equivalent in any currency or bearer instruments), you must file an electronic customs declaration with DNIT (Dirección Nacional de Ingresos Tributarios). The declaration is governed by Resolución 475/2021, implementing Paraguay's anti-money-laundering rules.
• You can file the form in advance online or on arrival — doing it before you travel saves time at the airport.
• The threshold counts the combined total you carry, including cash on your person and in checked baggage.
• Declaring is not a tax and does not cost you the money — it's an anti-money-laundering disclosure. Failing to declare is what creates problems: undeclared cash over the threshold can be detained or seized.
• Bringing a large amount as cash is rarely the smart play anyway — a transfer to a local account (once opened) is safer, traceable, and creates the paper trail you'll want for proof of funds.

Verify the live threshold and form with DNIT or your airline before flying — anti-money-laundering rules and the US$10,000 figure are reviewed periodically.

Documenting solvency

Proof of funds for residency — what's actually required

This is the part newcomers most often misunderstand. The old US$5,000 frozen bank deposit is gone: under Ley 6984/2022, the standard administrative residency run by the Dirección Nacional de Migraciones (DNM) has no investment minimum and no requirement to park money in a Paraguayan bank. What you do need is to *demonstrate* financial solvency — that you can support yourself — through official documentation, not a locked-up sum.

• Acceptable evidence of solvency typically includes recent bank statements, proof of regular income or a pension, or savings documentation — confirm the exact list with your processor, as DNM's accepted documents are applied case by case.
• You don't have to transfer the money to Paraguay to prove solvency — foreign bank statements can serve. The point is to show means, not to relocate capital on a deadline.
• If you do open a local account and move funds, keep the transfer records — a clean paper trail (Wise receipts, SWIFT confirmations) is the easiest way to evidence both solvency and the legitimate origin of funds. See banking.
• Investors going the Investor Pass / SUACE route for direct permanent residency will have separate, investment-linked documentation — see investor pass.
• Remember Paraguay's territorial tax system (Ley 6380/2019): foreign-source income is taxed at 0%, so money you earn abroad and bring in is not taxed simply for arriving. See taxes and tax residency.

DNM evaluates solvency documentation case by case; there is no published fixed minimum on the standard route. Confirm your specific document set with a licensed processor before filing.

Resource list

Transfer methods at a glance

• Wise ↗

  Sends USD → guaraní at the mid-market rate, recipient gets PYG in a local bank account. ~US$17 on US$1,000 from a balance; most transfers land same day. Best all-round choice for living costs and mid-size transfers.

• Traditional SWIFT bank wire

  Your home bank → a Paraguayan bank, same-name. Necessary for very large sums and counterparties that demand a bank-to-bank transfer. Budget US$15–50 per intermediary and 2–5 business days; ask for "OUR" charges so the full amount arrives.

• Other fintech remitters

  Several remittance apps quote "no fee" but bake a 2–4% margin into the rate. Always compare the guaraní actually received against the ~6,120 Gs./US$1 mid-market rate before sending — the cheapest sticker price is often the most expensive transfer.

• Cash across the border

  Permitted with no cap, but declare anything over US$10,000 (DNIT, Resolución 475/2021). Practical only for a small first-weeks float — a tracked bank transfer is safer and builds your proof-of-funds trail.

Common questions

Sending money to Paraguay — FAQ