Heat olive oil in a large paella pan or wide skillet over medium heat. Add sliced chorizo and cook for 3–4 minutes until browned and fragrant. Remove from the pan and set aside, leaving the flavorful oil in the pan.

Add diced onion to the same pan and cook 3–4 minutes until softened. Stir in garlic and cook for 30 seconds until fragrant. Add diced red bell pepper and cook another 2 minutes until slightly softened.

Add the rice to the pan and stir to coat in the oil and vegetables. Cook for 1–2 minutes to lightly toast the grains. Stir in smoked paprika, turmeric or saffron, salt, and black pepper. Add diced tomatoes and warm broth. Stir once to distribute evenly, then spread the rice into an even layer. Bring to a gentle simmer.

Cook uncovered for 15 minutes, allowing the rice to absorb the liquid. Avoid stirring too much so the rice cooks evenly and begins forming a flavorful crust on the bottom.

Nestle the raw shrimp and browned chorizo into the rice along with the peas. Cook another 5–7 minutes until the shrimp turn pink and the rice is tender.

Squeeze lemon juice over the paella and sprinkle with chopped parsley. Remove from heat and let the paella rest for 5 minutes before serving. Garnish with lemon wedges. Enjoy!