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Nicaragua In the News

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Incentives for Retirees to Buy Nicaragua Property


Investing in Nicaragua property now receives several incentives from the government. Nicaragua real estate is cheap and the attractions for people who enjoy the beach and outdoors are many. The current political stability of the country has attracted a lot of retirees to relocate and buy Nicaragua property which is now has tremendous potential. Compared with neighboring Costa Rica there is now tremendous room for increase in value of Nicaragua real estate. The improvement in infrastructure such as roads etc is bound to make the Nicaragua property appreciate in price.

The procedure for foreigners buying Nicaragua property has also been simplified and all that is needed for outright purchase is a valid passport. Further, in order to encourage pensioners and retirees to move and buy real estate in Nicaragua, a recent legislation Decree No. 628, the “Law of Resident Pensioners and Retirees” makes foreigners over the age of forty-five eligible for certain benefits provided they have a monthly income of at least $400. This is increased by an additional $100 for each dependent family member who will live with you in Nicaragua.

The benefits are in the form of tax incentives and no tax need be paid on out of country earnings. The retiree can also import household goods worth $ 10,000 and a car for personal use free of duty and import tax. The car can be sold after five years and is exempt from consumer sales tax. An additional car can be imported every five years under the same tax exemption.

In order to apply for retiree status in Nicaragua you need to produce the following documents, translated in Spanish by a lawyer and notarized:

Copies of birth certificate and passport

Medical Certificate stating you are of good physical health, are free from communicable diseases and are mentally sound.

Clearance from your former local police department stating that you have never been convicted of any crime

Certificate of income from your bank or pension plan affirming that you will have enough money to meet the minimum requirement of $400 a month

List of the household items you intend to import.

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Property developments in Nicaragua

While still in the early stages of shrugging off the image of a rough-and-tumble, politically troubled country, Nicaragua is fast developing a very sought after real estate market. When you think of the immense beauty of this country and combine it with prime real estate and super low prices, it’s easy to understand why so many people are leaping at the opportunity to invest in Nicaragua real estate.

It is a well known fact that those who would like to double or triple their money by investing in offshore real estate should look long and hard at nations which are recovering from years of turmoil. As long as the country is otherwise safe, you will usually find that you are greeted with excellent real estate choices available at rock bottom prices. Nicaragua certainly isn’t any different. With current prices set at a much lower rate than Panama, many real estate investors are turning their attention to this beautiful country and are purchasing real estate in Nicaragua.

What has drawn so many foreign investors to the shores of Nicaragua? Well, besides incredibly low prices, it has excellent real estate. Nicaragua is a country which boasts miles of pristine beaches, stunning, spacious ranches and picturesque colonial buildings. Another major draw card is the opportunity to purchase an island of your own at rock bottom prices. Inland, there is usually plenty of access to rivers or lakes as well as the opportunity to live under the shadow of a picturesque volcano. Near the sea, there are many prime holiday homes right on the beach just waiting to be snatched up. It’s no wonder so many people are turning their attention to Nicaraguan real estate.

Of course, depending on your needs you’ll need to look into travel and medical facilities, business opportunities, history, future prospects for the country, tour information, real estate, residency and many more things. However these details are easy to come by and you will soon find yourself daydreaming of purchasing the ideal piece of real estate in Nicaragua. The opportunities really are endless so if you’re looking to invest in offshore property, look into Nicaragua today to make sure that you don’t miss out!