Personal accounts: Paraguay
An honest assessment before work starts, the quote is fixed in writing.
| In short | 2026 |
|---|---|
| Without residence | Only some banks, on strict terms |
| Easiest | After residence and a Paraguayan identity card |
| Currencies | Guaraní and US dollars |
| Deposit guarantee | Up to 75 minimum wages, ~$40,000 |
| Visit | A branch visit is needed |
| Russian tax notice | Within a month for Russian tax residents |
An account in a Paraguayan bank is one of the first steps after moving to Paraguay: it is used to receive income, pay for housing and utilities, and settle property purchases. Paraguayan banks work mainly with residents, so the main requirement for a personal account is residence status and a Paraguayan identity card.
The banking system is supervised by the Central Bank of Paraguay through the Superintendency of Banks, which licenses banks and finance companies and checks their work.
Can you open an account in Paraguay without residence or a visit
Some banks may open an account for a non-resident without residence on a passport, but such accounts come with stricter terms and fewer banks to choose from. Most banks open accounts on a Paraguayan identity card, issued after residence is granted.
A visit cannot be avoided: the bank checks documents and signs the contract at a branch. So we usually follow this order: residence in Paraguay, identity card, then the account.
Which banks accept Russians
The country has large local banks, banks of international groups and finance companies. They differ less in attitude to citizenship than in status requirements:
- Most banks open a personal account on a Paraguayan identity card.
- Some banks work with non-residents on a passport but check the source of funds more strictly and offer fewer services.
- Finance companies supervised by the same Central Bank also open accounts.
Documents for the account
| Document | Purpose | Where to get it |
|---|---|---|
| Temporary or permanent residence | Residence status | Paraguayan migration service |
| Paraguayan identity card | Main document for most banks | Issued after residence |
| Tax number | If you have income or activity in Paraguay | Paraguayan tax service |
| Proof of address in Paraguay | Bank form | Lease, utility bill |
| Source of funds statement | Bank checks | Statements, property sale documents, contracts |
Timelines and running costs
With the identity card and documents ready, the account is opened in one branch visit: guaraní and dollar accounts, a card and online banking. Dollars are widely used for property deals, savings and foreign trade. Fees vary by bank.
The Deposit Guarantee Fund, created by Law No. 2334 of 12 December 2003, protects deposits of individuals and companies, residents and non-residents, in guaraní and in foreign currency. The guarantee is up to 75 minimum monthly wages per depositor per bank: since 1 July 2026 that is about $40,000 at the Central Bank of Paraguay rate, about 5,850 guaraní per dollar. All of one person's accounts at a bank are added up, and debts to the bank are deducted.
The cost of Murblz support depends on your status and the bank; a manager will calculate it in chat.
The main risk is opening the account before the identity card
The law does not stop you from opening an account in a Paraguayan bank on your own. But mistakes cost more than the fees: a visit without residence or an identity card, money without a source of funds statement, an account opened only after a property deal, operations that do not match the stated purpose. Murblz support removes these risks: Murblz specialists take you from residence to the identity card, choose the bank, prepare the source of funds statement and accompany the visit. We guarantee professional work and a transparent process, and in most cases a result on the first filing.
The support fee depends on your status and the bank; a manager will calculate it in chat.
Tax data exchange and notifying the Russian tax service
The bank fills in a tax residence form with the client and checks the source of money. If you plan to buy property in Paraguay, it is better to open the account in advance so the bank checks the source of funds before the deal; see the property in Paraguay page.
Russian tax residents notify the tax service of opening a foreign account within one month, separately for each account, and file a report on account flows for the previous year by 1 June. Anyone who spent more than 183 days outside Russia in a calendar year is exempt from both. If the bank's country exchanges tax information with Russia, the report is not filed when no more than 600,000 roubles, about $7,100, came into the account during the year, but the opening notice is still required. How to file is explained in our articles on the foreign account notification and the account flow report.
Common refusals
- No residence permit or identity card.
- The origin of money is not documented.
- Links to countries or persons under sanctions.
- Amounts and operations do not match the stated purpose of the account.
What we do
Murblz specialists help you get from residence to the identity card, choose the bank, prepare the source of funds statement and accompany the branch visit. For those heading for Paraguayan citizenship, the account history and tax documents help prove life and income in the country.
This topic in other countries
Accounts for non-residents in other countries:
- Bank account in Georgia for non-residents
- Bank account in Armenia for non-residents
- Bank account in Turkey for non-residents
- Bank account in Serbia for non-residents
- Bank account in Kyrgyzstan for non-residents
- Bank account in the USA for non-residents
- Bank account in Uzbekistan for non-residents
- Bank account in Cyprus for non-residents
- Bank account in Switzerland for non-residents
- Bank account in Singapore for non-residents
- Bank account in Hong Kong for non-residents
- Bank account in Germany for non-residents
- Bank account in Spain for non-residents
- Bank account in Portugal for non-residents
- Bank account in Thailand for non-residents
- Bank account in Argentina for non-residents
- Bank account in Uruguay for non-residents
More on this country:
All countries and rules are in the overview a foreign bank account in 2026.
What we do
- Personal account - opening assistance
See also
Company formation · Business account · Investment property · All country programs
FAQ
Can a foreigner open a personal account in Paraguay?
Can I open a Paraguayan account remotely?
Which currency should I open an account in?
How are deposits protected in Paraguayan banks?
Who supervises banks in Paraguay?
Do I need a tax number for a personal account?
Do I need to notify the Russian tax service about a Paraguayan account?
Need a personal account with a Paraguayan bank?
We choose a Paraguayan bank for a non-resident or residence permit holder, prepare the documents and follow the opening in guaraní or US dollars. Every country is in the searchable catalogue.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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