OBTAINING A NICARAGUA PASSPORT
We are proud to offer the lowest cost residency program currently on the market for the price of $2900 USD. Citizenship can then be arranged in as little as a year at no extra charge through our firm. Nicaragua’s retirement laws resemble the old pensionado rules that were in place in Costa Rica in the 1980s, attracting thousands of expatriates to that country. They provide significant tax incentives for foreigners, and they encourage investment in the country.
Resident expatriates say it is as much-perhaps more-the warmth of the people that attracts them to Nicaragua as any other factor, such as the tropical climate, bargain property prices, or attractive government incentives. But the government program is often a key deciding factor: It’s fairly easy to qualify for retiree status, the paperwork is minimal, and the benefits compare favorably with those in other, neighboring countries.
To qualify, 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 $600 a month. Add an additional $100 for each dependent family member living with you in Nicaragua.
The benefits of being a Nicaraguan citizen comes mostly in the form of tax incentives. As a foreign retiree, you’re entitled to;
- Pay no taxes on any out-of-country earnings
- Bring into Nicaragua up to US$10,000 worth of household goods for your own home, duty free
- Import one automobile for personal or general use and pay no import tax or protective tariff and sell it after five years, again exempt from consumer sales tax
- Import an additional vehicle every five years under the same duty exemptions.
What You Need to Apply for Residency status
To Apply for Residency status, you need to prove that you have an income equivalent to at least US$400 a month.