How to Be a Digital Nomad in Paraguay [Costs, Benefits, & Residency Guide w/ Plan B Paraguay]
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- čas přidán 1. 10. 2023
- Have you ever considered quitting your job and moving down south? Somewhere warm, cheap, and welcoming to digital nomads? Well Paraguay is becoming a popular location to do just that.
In today's video, we'll take a look at the benefits of life in Paraguay via an interview between myself and the co-founder of Plan B Paraguay (an agency that helps foreigners set up residency in the country).
If you want to reach out to Paul, here is his info:
Book a meeting: calendly.com/planbparaguay/ma...
Twitter: / planbparaguay
#paraguay #digitalnomad #liveinparaguay
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Good material, thank you. Paraguay is really the fastest raising magnet for immigrants in Latin America.
One misinformation: Panama did not stop friendly nations visa. They only raised the minimum level for initial investment (property purchase) to scare away low budget potential immigrants here. Simply due to inflation, the net was wider and wider and they decided to adjust a little bit the entry level not to over-flood the country with foreigners. Also traditionally they do not want backpackers type of immigrants. They prefer middle and higher financial level ones which somehow makes sense.
Another one is that there is no unrest going on in Panama. It is typical Latin country where political scene is always changing as every 4 years they have elections. But nothing uncommon going on there.
Few pluses of Panama (we did that homework deeply visiting both countries) comparing to Paraguay:
- way better climate, where on the beaches area you have 26-32C degree whole year round. A little big more hot in Panama City and much colder in the mountains (Boquete). Never as hot as in Paraguay
- very low crime rate. Paraguay is not bad either, but not on the same level like Panama
- higher standard of living (better infrastructure)
- location: much closer to North America or Europe, comparing to Paraguay
- Panama has 2,500 km long coastline, while Paraguay is landlocked. So not the same views...
True that Panama is more expensive than Paraguay. But most of manufactured products cost the same as both Panama and Paraguay have the lowest prices and custom taxes in Latin America. Very often you can see Uruguayans and Argentinians flying to all-inclusive in Panama not to spend time on a beach, but to go buy their new cell phones, tablets and laptops as it is very cheap there. Restaurants and services are way cheaper than in North America, so the comment "the same prices" is really missing the point here.
Secondary, you save LOTS on taxes (in both countries) especially when you are still working and then your standard of living already jumps (our case) 4 times, so all seems suddenly relatively cheap.
Again, Paraguay is a very good destination. Seems to be a perfect match to those who are mostly focused on low-cost. While for middle and higher-income expats Panama is still much better option.
I am actually living in Panama, so I totally agree on the benefits ;)
Very well and balanced explanation. I liked it. Keep it up.
Panama is much expensive than Paraguay for sure
Low crime rate in Panama? Get serious.
My heart is breaking as I am considering a move away from the West; it is becoming just too insane living here. Have watched other, and am watching this video to glean as much information as possible to see if this is something I can do.
Culturally Paraguay is part of the West (all Iberoamerica actually is), but not of the Global North.
@@helenanha4 I should have said anglosphere which I take to mean North America, Canada, U.K., Europe and Australia.
I've been living in Colombia for a year now as a Digital Nomad. Heading to Paraguay to apply for Temporary residency in March. So I'll see you there 😄
I’m considering Paraguay also. I just saw a facebook group called “digital nomads and expats in Asuncion Paraguay”.
@jen9782, I understand you, believe in me..!
It's good to see the face behind the Plan B account. Hello, sir! ha ha
The Paraguayan Tax Free Residency is possible, there is not a specific number of days that you are required to spend in Paraguay each year to apply for this permanent residency or citizenship..
Whai is the expenses? Govt fee and your service charges??
How family members areincluded.. Till what age? What about parents¿
Super hot 104 degrees 5 months out of the year. Just oppressive the heat and limits any outdoor activity.
Well, I guess I won't be there for those 5 months!
what if you earn and move the money and bring it to paraguay in banks?
Any such info on Bolivia
Were you implying that money remitting to a Paragauyan bank from overseas is subject to Paraguayan tax?
Hmm, I'm not sure... That doesn't sound quite right to me but if you want to know 100% for sure I recommend reaching out to Paul on Twitter!
He is basically promoting tax evasion.
Money earned while working in Paraguay is subject to Paraguayan tax. Remote workers need to pay taxes in Paraguay.
Panama is on the Ring of Fire. They are not as welcoming to outsiders. The law is not anywhere close to as focused on individual liberty.
Is it difficult for a foreigner to find a job in Paraguay?
I went through tons of paperwork to get it all done and apostilled. Bring the birth certificate and have it confirmed there? Have Interpol there do the criminal check there? It sounds a lot easier than the thief and scammer Lorena Latera told me.
I have heard that name a few times. She has been doing the rounds it seems? One to avoid.
great convo! but 'warm'? hotter than hades more likely.
Yes that king of heat is very difficult to live with. One could live there 4 month of the year in their winter (may to september) and go elsewhere the rest of the time.
What is the minimum down payment to buy a property there? Can't seem to find an answer to this question online.
It depends on the contract. Usually it is either 10% or 5% of the total price amount. However, for foreigners, there's a 15% fee extra that you have to pay for taxes.
Thanks
I have been searching for information about Paraguay for 5 months. After watching this video, I made up my mind to apply for residency in Paraguay, but later, after reading all the comments here, I stepped back..! I have mixed feelings now: I do not now if I have been lucky to be warned about the hardship I might face for Paraguay or I have to go through more unpleasant surprises in my next search for a country to live in??
works. as long as you have much money and oral Spanish... otherwise hell... Swiss, lic.oec.Paraguay for 10 years.
Language is achieved in less than two years and I see learning another language as a plus.
In summary, if you are rich Paraguay is a good place to chill. That helps...
What about citizenship? I’m interested in getting a second passport, and I understand that Paraguay only recognizes dual citizenship for Spanish or Italian Citizenship. I honestly want the citizenship option to seal the deal that I have a plan B or C.
The Paraguayan Tax Free Residency is possible, there is not a specific number of days that you are required to spend in Paraguay each year to apply for this permanent residency or citizenship..contact us..
@@Thejerzway In other words no dual citizenship for Americans?
Rubbish they allow dual nationality.
Now i just need to figure out how to make $18000/year
Shouldn’t be too hard to reach that target 🤑
Do a clinical study
The profound ignorance of third-world conditions/countries and their accompanying implications / troubles / corruption / etc. never cease to amaze
*BEWARE OF TAX AVOIDANCE*
11:10 “Also not brought to Paraguay in bank”
What this guy really means is: since Paraguay is too poor and not a part of the Common Reporting Standards, if you work in Paraguay and “forget” to declare your money, Paraguay has no way to find out.
Come on guys, income tax is only 10 % in Paraguay. Make an effort and live in the country legally.
You were clearly not paying attention 😂
Dating is easier there . . . Passport bros welcome 🤮
*ZERO TAXES DO NOT EXIST MOST OF THE TIME*
2:30 That's a pretty wrong advice. People working in Paraguay need to pay taxes in Paraguay.
Him being wrong on taxes makes me worried about his advice on the rest.
you didnt listen to what he said
@@2ndTim3_1-6 What in particular ?