Live in Nicaragua

San Juan del Sur

Nicaragua is virtually unknown--and usually misunderstood--by most people, which is why forward-thinking investors can find some of the best real estate deals on Earth in this country. For the record, this country is not in the midst of a civil war... and it's not a Communist state. It has, however, suffered from a serious case of bad press ever since the Ollie North days.

The kindness of the Nicaraguan people is very well known in the region. If you visit the country you will notice that the locals are friendly, curious, open and welcoming to foreigners. It is impressive how in the middle of their poverty and daily struggle you can always see a smile on the streets of Nicaragua. The Institute of Tourism of Nicaragua has done surveys and the kindness of the locals is one of the main factors that tourists mention as why they like the country.

Nicaragua has become a new exotic destination for upscale tourists that like culture, eco-tourism, beaches, and good cuisine. The cities of Leon and Granada, both founded in 1524, are two of the oldest, most majestic colonial cities in main land America. Additionally, Nicaragua has the largest freshwater lake in the world (3,149 square miles) which is connected to the Caribbean ocean via the San Juan River. The country enjoys 215 miles of Pacific Beach and 330 miles on the Atlantic coast, making Nicaragua the largest country in Central America (130,668 km2) with lowest population density. (www.britannica.com, www.intur.gob.ni)

Migratory status for investors

Entry requirements for investors

In accordance with Article 14 of the Immigration Law N 153, all foreigners entering the country must comply with the following requirements:

  • Passport or travel document with at least six months effectiveness
  • Payment of a $5 tourism card

Term for Scheduled stays of Foreign Citizens

  • The General Immigration and Naturalization Office will grant a term for stays in conformity with free visa agreements signed by Nicaragua.
  • The terms for prolonged stays in the country very between 30 and 90 days, renewals apply.

Residential Categories

Permanent Residency (Article 9, Law 153, "Law on Immigration")

It is granted to investors who apply for it. A 5-year residence card is issued. .

Temporary Residency (Article 28, Law 153, "Law on Immigration")

A 1-year residence card is granted, which can be extended for two additional years.

Non-Resident (Article 41, Incise c- Law 153, "Law on Immigration")

Those foreigners who enter on the basis of this category and decide to change their immigration status can opt for a temporary or permanent residency under the provision for investors.

Resident Pensioners or Individuals Living on Investments - Law 628

This law is for residents pensioned or retired by government entities and official organizations, private companies in their respective countries, as well as any other person who enjoys any type of permanent and stable income generated abroad. They should be over forty-five years old and enjoy a monthly income of not less than four hundred dollars (US$400) or its equivalent in any other foreign currency, plus one hundred dollars per month (US$100) for each dependent family member in the country.

Among the incentives granted by this Law, are:

  • One-time duty free permits to import household furnishings and equipment, and other tax exemptions for the net amount of ten thousand dollars (US$10,000).
  • Income tax exemption on any of the assets introduced from abroad and declared under this law.
  • Exemption on duties, and sales taxes as well as the import of one automobile vehicle for personal or general use. Once the vehicle has been introduced in the country, it can only be sold, handed over or transferred to third parties, without having to pay taxes, only after five years from the date it was imported.

Under Law 306, bungalow income will be tax free income for 10 years and owners will be able to enjoy their bungalows for up to 3 months out of the year if they choose.

For more information contact us at: info@seahorsetropics.com