If you consider coming to Paraguay as a place of residence or for a long period of time, it is possible that it is convenient to bring cash. In this article we tell you what you need to know to enter Paraguay with cash.

Prepare your credit or debit cards

Before leaving your country it is important tomake sure you can use your credit or debit cards in Paraguay, since some banks or financial entities block its use outside your country or continent, for security reasons.

Therefore, it is mandatory to clarify this point and authorize your cards for use in Paraguay and that you can use them freely, since managing this from here can be complicated at any given time.

The use of Your usual cards in Paraguay may entail certain administrative costs and commissions for purchases abroad and purchases in foreign currency., since here the local currency is the guaraní. Check this matter with your bank.

It may be a good idea to investigate which international cards you can have access to, since there are already cards on the market that allow use abroad without commissions or expenses of this type.

To enter with cash

If you want to enter Paraguay with cash you should know that All amounts exceeding USD 10.000 per person over 16 years of age must be declared to the customs authorities upon arrival. Therefore, if you come with USD 9.999 there is no legal obligation to do so, but if you come with USD 10.000 there is. Understand that we are talking about 10.000 dollars or the equivalent in the currency you bring with you.

Minors under 16 years of age can carry up to USD 5.000 when entering Paraguay.

Bringing $10.000 or more to Paraguay is not illegal, what is illegal is not reporting it. You do not have to pay taxes or fees, just report it and receive the document proving that the money has been declared appropriately.

Currently you can make the declaration before traveling with the Electronic Customs Declaration for Travelers (e-DAV), accessible by clicking here (it is in Spanish).

Preparations in your home country

In your country you must check the limitations or regulations that may exist for the movement of cash capital abroad. Normally you do not have to pay taxes or fees, but you do have to report the movement and document everything.

In the case of Spain, for example, if you leave the country with certain amounts destined outside the European Union and that money has left a bank, the bank itself will issue a notice to the Bank of Spain. It is very possible that something like this happens in more countries, so you have to ask and make sure.

It is also possible that when you are going to leave the country at the airport itself you will have to present the cash in cash at the airport office of some official institution, where they may count the money to certify the declared amounts.

It is very important to document all your cash movements

Because when you are going to enter Paraguay with cash and intend to exchange it for local currency, the guaraní, in an exchange house or deposit it in a bank account, They will ask you for documents that certify the origin of the money and its traceability, that is, documents that show that the money came from a bank in your country or that if you had it at home it is proven with your tax returns that that money has a legitimate origin. They will also want to know, if you intend to operate with more than $10.000, if the money was presented to the customs authority at the airport or border crossing through which you entered the country.

Come with dollars, euros, pesos...?

In Paraguay you will not have any problem exchanging or making deposits in dollars or euros, and you will not have a problem if you come with currency from neighboring countries such as Brazilian reals or Argentine pesos. Another thing is whether the exchange rate benefits or harms you.

If you come from Europe and plan to enter Paraguay with cash, don't make the mistake we made, to exchange euros for dollars in your country, with the consequent expenses and loss of value due to the purchase and sale operation. Come with euros, they are accepted very well here in all the places where currency is exchanged, but do not come with 500 euro bills. In fact, we recommend that they be a maximum of 200 euros, but personally I recommend that they not be worth more than €100.

To enter Paraguay with cash, you should know that it is easy to have problems with dollars, since if they are marked in any way, very wrinkled, dirty or if they have any imperfections, they will be rejected everywhere. Even if they are legal tender, entities in Paraguay do not want US dollar bills in poor condition, even if it is very minor. This doesn't happen with euros, but don't bring torn bills repaired with tape either!

The importance of having cards and cash upon arrival in Paraguay

Do not think that when you arrive in Paraguay you will be able to go to a bank office, open an account and bring money from your country with a bank transfer. That would be great, but the reality is that you won't be able to do it because To open a bank account in Paraguay you need to have an identity card, and that is something that takes a few months to obtain. In addition to having a good strategy and maybe some contacts, something about that We help those who come to settle in the country.

Therefore, for your first months it is important to enter Paraguay with cash and live with what you have brought and using the cards from your country of origin, so you should not neglect this matter at any time.

As you can see, entering Paraguay with cash is not complicated, but there are things to take into account.