The thought of moving to Nicaragua may seem absolutely crazy to many people. However, thousands of foreigners have already made the decision of moving to Nicaragua and now call this Central American gem home. Why? They are driven by the tremendous real estate investment opportunities, low property taxes, and the affordability of living in Nicaragua.
There is no question that Nicaragua is an “it” destination. For those considering retirement in Nicaragua, MSNBC featured Nicaragua as “The Best Kept Retirement Secret” and U.S. News and World Report praised Nicaragua as one of the top-10 retiree destinations in the world. Nevertheless, Nicaragua is a destination for people of all ages. As the great American author Mark Twain once wrote, “it is an amazing place for all.”
What does it take to move to Nicaragua? Well, if you are 45 years of age and are able to prove an income of $600 monthly, the government makes moving to Nicaragua a breeze, because you qualify for the country’s excellent, retiree benefit program. This program offers numerous benefits, especially by giving you special tax and import duty exemptions.
The Logistics of Moving to Nicaragua
In order to obtain residence when you move to Nicaragua, you’ll need to prove to the Nicaraguan government that you’re actually a citizen of the country where you claim your nationality, that you’re in good physical and mental health, that you’re in good standing with the local police, and that you have an income equivalent to at least US$600 a month. It is critical to state that having residence is a prerequisite for attaining many items, such as a bank account or any type of financing. You also need residence to own a business, register a car, buy on credit, or buy a smartphone with a Nicaraguan plan.
You will need to bring to the Nicaraguan consulate in your home country the following notarized and validated documents with your state seal (U.S.):
- Application for residency form
- Passport photos and passport
- Proof of income/funds
- Proof of dependency on other person (if applicable)
- Certified criminal record from your country of origin
- Original birth certificate
- Marriage license (if applicable)
- Certificate of good health (physically and mentally)
An Attorney to Help You with Your Move to Nicaragua:
GARCIA & BODAN (NICARAGUA)
Attorneys & Counselors at Law / Abogados & Notarios Públicos
Terencio J. García Montenegro (Managing Partner / Socio Director)
Tel: +505 270 5008 Fax: +505 278 0928; Email: terencio.garcia@garciabodan.com