Money

Not sure how much Paraguay allows in, but one word of warning.  If your taking $10,000 or more out of the US, you need to fill out a customs form and turn it in at your port of departure in order to "declare" the amount your taking out. Otherwise US customs can confiscate the entire amount as part of their anti-money laundering program.  The form is on line as I recall.  The customs people at major departure airports do have currency sniffing dogs who will, if they alert on you, result in you being questioned and searched.  I saw this happen in DFW once, really surprised me.

Thanks. I'm under $10,000, but it's still a large sum, and I'm just trying to make sure I have my bases covered to prevent something like that from happening. I don't want to be worrying about withdrawing from an ATM all the time to pay rent, or sending via services like Western Union...

I've just learned about the attraction of Paraguay. Who knew... :-) I asked Google something like 'where is the cheapest country to live', that may not be exact, but its the gist of what I asked. And this is one of the sites it gave me. I also saw that Paraguay is the 2nd poorest country in the world. I know, in that liner of thinking, the US is the richest country in the world. But, the US also has the largest national debt into the world, and after you consider that debt, you might be able to conclude the the US is the poorest country in the world.
Though, wealth and poverty are relative measurements. Maybe Paraguay is among the happiest? Can anyone comment on that? Anyway, off the nonsense philosophy. :-)

What I'd suggest, and please correct me if you think I'm wrong, I try not to be arrogant; to transfer money, the smartest thing to do is probably, not cross borders with loads of cash, at least not the US border. Maybe transfer from a Mexican bank, and/or travel from a Mexican airport.

What I've gathered; You can rent a 3 bedroom house for U$200 per month,cost of living, money you have to pay every month for basic living expenses in U$500. Another thing I'll say is, if you are a rich person (someone with more than (U$500 per month or over U$10,000 lump) spread it around, don't be a scrooge. Maybe, give 20% to the community. Or based on your talents, start something in the community to benefit the community. Start a school. Also, does anyone know whether or not Don Quijote has any schools in Paraguay?

Kraig

I'm wondering, did I say something wrong or not say something right? I am a little outspoken and idealistic, though I try to be non-judgmental. I just found out about Paraguay and want to learn more about it, maybe I should have said what I said, in it's own new discussion. Maybe what I said about Don Quijote was taken wrong, like why's he bringing that up? Paraguay is independent of Spain. I wasn't referring to the mythical legend, though if anyone wants to talk about that, I'm game. But, the Don Quijote I was referring to is, a Spanish language school, they have schools allover Spain and Latin America. Hope I said nothing wrong.
I hope everything is ok.
Kraig

Kraig,

I'd suggest that if you have any specific questions you'd like to get answered or issues commented on that you start post a new message, that way folks can focus specifically on it.  Your questions are now sort of buried inside Melusine's original post so this may cut down on the number of responses you get.

I think you'll find that people who are on this site will be more than happy to share info or provide you some insight regarding specific issues or questions you have.  You just have to clearly state them.

As to your comment/question about living expenses, I believe there's some earlier posts on this forum regarding living expenses you can check out. 

I'm not real familiar with rental prices outside of Asuncion, but for there, $200/month for a 3 bedroom house seems pretty low.  You may find something that "technically" is a 3 bedroom house for that much, but not many folks would want to live in it. 

As for the $500/month living expenses amount, that sounds pretty doable for up to 2 adults who wouldn't mind living frugally and watch their expenses.  About $100 or so for electric and water, $30 for cell phone, maybe $300 for groceries and whatever left for entertainment and bus transportation.  If you want/need internet connection or cable TV then figure in another $100 or so. 

As for transferring money, I don't think you'd gain anything from trying to go thru Mexico (or any other foreign country).  Wiring money to an account in Paraguay is no problem from the States, the problem is getting an account in Paraguay to wire it to.  You basically have to have a cedula in order to open an account in Paraguay.  Although some posts have indicated that there are ways to get around this, I think you have to get very lucky by either talking to the right person or being in the right bank at the right time to make that happen. But there's lots of posts you can read concerning the trials and tribulations of getting a cedula.

Well, hope you enjoy learning about Paraguay.  I think you'll find like most of us on this forum that it's a great place to be, or aspire to be in!

Well, IŽve been here over 2 weeks now, I guess itŽs time I answer something! I took a large sum with me in a money belt, under $10,000, it was never any problem. I checked with the Aduana and under 10,000 USD is perfectly legit to admit without declaring it... The money belt kept anyone from even knowing it was there, which made me feel better also. I know itŽs a typical spot but I wore it low and, well, anyone trying to take it from me would definitely be noticed!

What others commented on certain series not being accepted is correct... I canŽt remember now but it was just as they said, so if youŽre wondering, search the most recent posts. CB and D or something, but please, look for what they said, I remember checking it. Unfortunately I didnŽt read that until after arriving here and discovering it for myself.. I tried several places in Asuncion and Ciudad del Este and even Foz, Brazil, and they wouldnŽt take them. In Foz one place said they would for a fee - $5 per each $100. I said no way for legitimate bills and thankfully a friend who works for a bank was able to change them for me. But donŽt count on that as an option, most people said theyŽd have to be deposited into a bank account. And of course the problem with that is you need a bank account, which means you need a cedula. Fun fun rigamorole....

Majbjb:

I'd just found something I'd wanted to put a message to. But, then, I realized, those messages were a few months old.
So, I'm actually surprised I even got a response.

I'm not sure how to best navigate these messages.
As for the $200/month to rents a house, it is something I saw somewhere, while browsing the net.

As for wiring money from Mexico; wiring money directly from the US might be seen by the US government, so that is, considering confidentiality.
What is a cedula?

Another time when I asked Google something like "where can you get the most interest from a bank account", I discovered that you can start an account in Panama with $2,000 and get 7%. I would test that at first when I had $4,000 which would be risky, so,that's why I wouldn't do it with my only $2,000. And there is the thing, many Americans dreamily talk about, living off the interest of a million dollars, though you can probably do it with half that, "million" is a magic word with many triggers. But you could probably do the same with much less than a half-million dollars, in Paraguay. And taking all the interest of a sum is not the wisest thing to do, if you take half the interest, the principal will always grow. Of course, if an American (or other foreigner) lives in Paraguay or any country, they'd want to have more than living expense, to facilitate travel.

Hey Kraig,

A cedula is a national identification card with a unique number.  To get one you have to apply for residency which takes about 3 months if you complete all the necessary steps.

Once you have a bank account, wiring money from the U.S. is not a problem.

The IRS won't get involved unless there is some question about how you earned the money, and that can happen even if you keep the money in the U.S.

BTW, on my last trip in April, I had the same problem with $100 bills when I tried to pay my attorney.  I tried some money changers on the street near Banco Fomento where I have an account, and they wanted in upward of 30%.  If memory serves me, it was series C and D, though I'm not sure.  If anyone needs to know for sure, call the U.S. Embassy in Asuncion, or I can find out through my lawyer in Asuncion.

-Tom

IŽve been living in Paraguay since the first of April. IŽve tried several banks, and none has allowed me to open a bank account.

All IŽve been able to do is use an ATM to get cash, and then have it changed into Guaranis. It costs $5 per $100, plus whatever the cambios charge.

ItŽs been the most frustrating part of my experience here.

I have found it very difficult to rent here. IŽve managed it with the help of Paraguayan friends, but I donŽt know how you do it without someone whoŽs a citizen to help you.

Same with internet, phone, etc. Maybe I donŽt know the right people or have not gone about it in the right way, but itŽs been very frustrating.

I talked to the US Embassy here about the residency process, and they told me very candidly it was a very cumbersome, frustrating process. I think Byzentine was the word they used precisely.

Only once have I had a problem with the cambio accepting a $100 bill. It was of a particular series that there had been some counterfeiting problems with. I got the bank whose ATM I used to exchange it for me. CitibankŽs ATMs give $20 bills, and others give $50.

If I had not had the help of friends who are citizens, I would have gone back to the States, or to another country pretty quickly.

So, a Cedula is the equivalent to a Social Sercurity Number, which has taken a life of its own, beyond it's original stated purpose.

I'm thinking, if you go there, Paraguay to live, regardless of how much money you have, it'd be helpful to get a job, any job, be a contributing person. I suppose, being a self-employed person like a [free-lance] writer wouldn't achieve these purposes.

Given what I hear about the economics, a $100 bill might be overkill anyway. Though, if you brink $20,000 5s, 10s, 20s, and 50s maybe be a bit pulky. Not to mention, problems of some bizarre US laws that I may be unaware of, concerning transporting US currency outside of the US. What might these laws be?

"Some question about how you earned the money"? Do mean like, if you're a drug or arms dealer, or are there other examples of that too?

I've heard some interesting history of Paraguay. I think it broke off from 2 different countries.

There are some interesting economic/financial differences in the world. Like exchange rates, and one person from, usually first world countries like US, Canada, and UK, going to different countries, and things are so much cheaper. Usually in these countries with "lower costs of living".

I have also heard that, the countries with the lowest costs of living are in South America. I am also attracted to some other initiatives set to take place in South America. One is the establishment of a community with a resource based economy.

Kraig

Hi Zollie,

If you really want to get your residency, I'd suggest using a "gestor" or an attorney that you can trust.  They know all the steps and can process the papers rather quickly.  Before Lugo, it was possible through your gestor, to "help" the process by greasing the wheels.  While that still occurs on a much smaller and slower scale, the steps are rather straight forward now.  Part of the application process is depositing $5,000 US in a special account at Banco Fomento which remains there for about 3 months while your residency is processed.  You can't withdraw the money until you get your residency, so it's not really a bank account in the normal sense.

I'd say that compared to US immigration, the Paraguayan system is much faster, provided you use a "helper."  That is not to say you can't do it alone, as long as you speak Spanish, but it will require a lot more patience, running around, and the Dept. of Health will make you take some long ridiculous psychological test (which was waived for me through my attorney).

The only reason I can see to bring in $100 bills is if one plans to make a large purchase.  For example, I brought enough cash to pay my attorney and open up the residency application bank account with Fomento.  If it's under $10,000, it's legal and you don't have to declare it at the airport.

Just a few quick comments regarding cedulas. 

Tom Vacaville commented about a long "physcological test" as part of the process.  If you use an "approved" clinic or doctor to do the physical and blood work they will also make a statement on the paperwork attesting to your fine state of mind.  This suffices for the Immigration folks.

And for all the Americans out there, instead of thinking of the cedula as a SSN, think of it as a "green card" which is really the purpose it serves.  Unlike the US, you need this "Green Card/Cedula" to do the most mundane things like open a bank account, get a cell phone, register a car in your name, get a drivers license, get an account for utilities for your apartment/home...the list goes on and on.  Part of the charm of Paraguay

In lieu of making a deposit in a bank for a cedula, you can also buy property and present a copy of the title when you turn in your cedula paperwork.  Not an option for many I realize, but if your buying property anyways, that's just one less thing you have to deal with when it comes time to apply for a cedula.

It's almost funny to hear what the Embassy told Zollie about the difficulties in obtaining a cedula.  It's a piece of cake compared to the cost, difficulty and frustration one has to go thru to get a US green card.

As for renting in Paraguay without a cedula, a thought would be to find an expat who has a property they would rent and that you could pay for thru a banking transaction in the US or Europe.  I've seen more than a few expats post on either this forum or a few other ones who have property available for rent, some are even looking for caretakers to look after their places while they are back stateside.  With a little luck or creativity you could probably work something out.  May try posting on the Classifieds section?

One last thing, it's series CB and D $100 bills that are not readily accepted here.  CB's one can sometimes pass, but any series beginning with a D is really difficult.  Reason for this is that these are the series that are normally printed up by counterfitters.  This is as of this past week in ASU.

I've also seen some house/apt. ads on Clasipar for expats/embassy personnel, etc., though they tend to be pricey.  Some owners and agencies just require a larger deposit if one is not yet a resident.

This is a little dated, but I just noticed y'all are talking about difficulties in bank accounts/ATM fees.  Several expats I know have accounts with MaxiCambios, which is a check-cashing agency in Shopping del Sol mall and several other places.  (The normal banks here insist that you have a balance of $1,000 minimum each month.) 

Maxicambios charges about $5 to cash a check of any amount, pending you provide them with some documentation and open an account with them before your first transaction. This account is only for purposes of withdrawing money.  In that way, you can have money deposited directly into an account in the US, write a check in the Maxicambios office, and they cash it for you.  You don't have to have a cedula to open the account, but you do have to provide the checking account numbers so that they can verify you, which takes a few days.  It's definitely cheaper than Western Union or ATMs....

Hi Kraig,

FYI-
Here is a list of the top 10 poorest countries in the world according to data gathered by the International Monetary Fund and the CIA World Factbook. As you might have guessed 9 out of 10 poorest countries in the world are situated in Africa. The wealth of a country is measured by GDP per capita and it stands for the average value of goods and services a person produced living his country. Paraguay is getting tremendous amount of private investments and is the fastest growing country in Latin America. (One of the reasons I'm moving there)

http://www.huffingtonpost.com/2010/08/0 … ml#s122149

Kraig wrote:

I've just learned about the attraction of Paraguay. Who knew... :-) I asked Google something like 'where is the cheapest country to live', that may not be exact, but its the gist of what I asked. And this is one of the sites it gave me. I also saw that Paraguay is the 2nd poorest country in the world. I know, in that liner of thinking, the US is the richest country in the world. But, the US also has the largest national debt into the world, and after you consider that debt, you might be able to conclude the the US is the poorest country in the world.
Though, wealth and poverty are relative measurements. Maybe Paraguay is among the happiest? Can anyone comment on that? Anyway, off the nonsense philosophy. :-)

What I'd suggest, and please correct me if you think I'm wrong, I try not to be arrogant; to transfer money, the smartest thing to do is probably, not cross borders with loads of cash, at least not the US border. Maybe transfer from a Mexican bank, and/or travel from a Mexican airport.

What I've gathered; You can rent a 3 bedroom house for U$200 per month,cost of living, money you have to pay every month for basic living expenses in U$500. Another thing I'll say is, if you are a rich person (someone with more than (U$500 per month or over U$10,000 lump) spread it around, don't be a scrooge. Maybe, give 20% to the community. Or based on your talents, start something in the community to benefit the community. Start a school. Also, does anyone know whether or not Don Quijote has any schools in Paraguay?

Kraig

Hey all, does anyone have the up to date Series numbers that aren't being accepted by the banks or cambios in Asuncion? Will be traveling in a few months and don't feel like getting there and not being able to exchange any money. Also, we have only seemed to have this problem with $100's, is there this same issue with $50's? thanks Ryan