Paraguay is one of the most beautiful countries in the world, and is frequently noted as the best country in LatAm to live. A country like Paraguay could inevitably change your life and your everyday habits, so as the best consulting company in Europe, we decided to dive into the local traditions, customs, and social graces, deciphering what it’s like to live a day in the life of a Paraguayan.
Establishing a second legal permanent residence in Paraguay could be the ticket to safeguarding your assets with little to no tax obligations. Given the country’s economic stability, there are many investment opportunities which you can take advantage of.
Still, if you’re planning on attaining a permanent residency in Paraguay, you may want to know what to expect in the average life of a Paraguayan! Whether you’re going to Asunción, Ciudad del Este, or Villa Hayes, a residency in Paraguay could be everything you wanted and more!
Money and taxes
Let’s start with the most important thing – your money! The economy in Paraguay is stable, while the cost of living is very low – especially if you’re coming from areas such as Europe or North America. This makes Paraguay the best country in LatAm to live if you’re looking to safeguard some assets or purchase property which will maintain its value.
The country’s lenient tax system also makes it a favorite with our customers here. Compared to Western countries, Paraguayans are taxed very little here. For example, for high earners who earn 120x the minimum wage, then the income tax rate is 10%. However, for those earning a more modest wage, the income tax rate is 8%. When compared to countries such as the US, which tax richer citizens up to 39.6%, Paraguay is somewhat of a tax haven.
The media in Paraguay
One of the first things you notice in Paraguay is the media. Essentially all newspapers and television channels are broadcast in Spanish, so you’d better make sure that your Spanish is up to scratch if you want to keep up with the local news! The media was heavily censored up until around 1989, although this has slipped away since the early ‘90s, with media outlets enjoying greater creative freedom and freedom of speech.
The local popular newspapers include Última Hora, El Popular, and La Nación. The national service which oversees TV and radio services is the National Telecommunications Administration, and you can find commercial TV channels being broadcast from major populations centers such as Asunción, Encarnación, and Ciudad del Este.
Cooking in Paraguay
If you’re thinking about moving to Paraguay or establishing a second permanent residence there, you’re probably interested to find out about the local food and cuisine! Many of the common dishes are derived from the Paraguayan Guarani – the indigenous peoples of the land. These commonly feature beef and fish which have been caught from local freshwater rivers. In addition to this, when living in Paraguay you will also commonly come across soups which are served with meats and breads of various types.
“Chipa” is a common type of bread which is flavored with cheese and egg, commonly being served with soups. “Sopa Paraguaya” is a cornbread-esque pie made from egg, milk, and corn, while “avati mbaipy” is a corn soup which is commonly consumed. Due to the agriculture of the country, you’ll find that corn/maize is often used in local dishes due to its abundance. Still, the local people find a way to make it taste amazing and different every time, helping to make Paraguay’s case as the best country in LatAm to live.
When it comes to drinking, you can expect to see caña, a spirit derived from cane sugar, and good old-fashioned beer, with numerous beer brands all expressing their own unique flavor profiles! There is a local herbal tea called “Yerba mate” which is noted for its healing properties, being consumed at all times of the year come rain or shine.
Sports in Paraguay
As is common in much of Europe and Latin America, football (soccer) is the most popular sport of all. You will often find football fans supporting their teams at local bars and cafés, as well as see children playing football in the street. This helps to make Paraguay the best country in LatAm to live – you get to immerse yourself in this country’s love of the beautiful game.
Nonetheless, other sports are played too, with tennis, fishing, basketball, and golf being common pastimes and hobbies for Paraguayans. If you’re into something a little more high-octane, you can always check out the annual “Trans-Chaco Rally”. This is an adrenaline-pumping 3-day motor rally held in the rural area of Chaco every September. With cars racing up and down the rural dirt roads of this mostly-empty area, you’ll get a sense of the scale and grandiosity of Paraguay, whether you’re living in Paraguay or just visiting your second home for a while.
Festivals and the pace of life
As is the case with many countries, living in the capital city cannot be compared to living in the rest of the country. As a result, if you’re considering moving to Paraguay or establishing a second permanent residence there, you should consider whether you’re more of a “city person” or a “country person”. Country people are likely to be happy in the vast majority of Paraguay, while people who enjoy metropolitan living will prefer living in Asuncion, the capital. On the whole, if you enjoy a “tranquilo” attitude and slower pace of living, then Paraguay is the perfect country for you!
All around the country, there are many religious festivals and events which are celebrated by the locals throughout the year, garnering impressive turnouts. Even if you’re not religious, moving to Paraguay would not be complete without checking out one of these spectacular events! For example, on December 8th every year, thousands of people flock to the city of Caacupe in order to celebrate the festival of the Virgin of Miracles.
Similarly, on June 24th every year, The Feast of St. John is celebrated by Paraguayans with old-fashioned games. One of these games sees participants walking barefoot over hot coals! It’s safe to say that Paraguayan festivals and celebrations can be endlessly entertaining, whether you’re living in Paraguay permanently or visiting your second home.
Culture in Paraguay
As you may expect, the vast majority of cultural centers are located in Paraguay’s capital of Asuncion, making the capital ideal for culture lovers! For instance, the Conservatory of Music, The National Academy of Fine Arts, The School of Music and the Symphony Orchestra are all located in Asuncion.
Asuncion also has a plethora of fascinating local museums which detail natural history, military conflicts, and ethnography. You’ll find art galleries (both traditional and contemporary) framing the work of famous Paraguayan artists such as Carlos Colombino, as well as many others.
The capital is also brilliant when it comes to libraries, which can be very useful if you’re studying or if you simply love to read! For example, the Our Lady of the Assumption Catholic University features a very large private library, in addition to more public services such as the National Archive and the National Library.
A permanent residence in Paraguay will change your life!
Paraguay is frequently named the best country in LatAm to live in due to its climate, kind people, and slow pace of living. If you enjoy the tranquilo lifestyle and an endlessly sunny climate, you’re probably going to feel right at home when establishing your second residence in Paraguay – it will change your life. With our help, you will be able to establish your permanent residence in Paraguay and enjoy all of the wonderful benefits this country has to offer you!
