Immigration and Visas for Nicaragua

Nicaragua is the jewel of Central America. It is a country that has suffered its fair share of trouble and disasters – hurricanes, earthquakes and a military dictatorship – but it has picked itself up, dusted itself off and is now a top destination for tourists and people looking for a new life.

Volcano, Nicaragua

Nicaragua borders with Costa Rica to the south, Honduras to the north, the Caribbean to the east and the Pacific to the west. It is a country of breathtaking scenery and natural beauty – volcanoes, lakes, mountains, beaches, tropical rainforests and colonial architecture. When you team this with low taxes, excellent real estate opportunities, a low cost of living and incentives for retirees, you’ve got Paradise!

What’s more is that the authorities have made it nice and easy to visit Nicaragua and to gain residence. Nicaragua is one of the CA-4 countries, meaning that it has signed the Central America Border Control Agreement. Travelers from the US and Canada, the UK and other EU countries, and Australia can travel between Nicaragua, Honduras, El Salvador and Guatemala for up to 90 days without the need for entry visas or formalities. A 30 day extension can also be applied for before the 90 day expiry.

MSNBC has called Nicaragua “The Best Kept Retirement Secret” because of its lifestyle and its generous retiree incentive program. If you are over 45 and can prove an income of $400 or more per month (plus $100 for each dependent), you qualify for this program whose benefits include various import duty and tax exemptions.

To apply for residency, it is best to first apply for temporary residency, which you need to renew on an annual basis. After three years, you can then apply for permanent residency. To obtain temporary residency, you will need:-

• An application form and letter requesting residency.
• A valid passport, with a copy, and two passport photos.
• Proof of income or funds, or proof of dependency on another person.
• A certified copy of your birth certificate.
• A certified copy of your marriage license if applicable (you may need a translation too).
• A certified certificate of good health.
• A police record for the last years from your country of origin.

(A certified copy means that you will need your documents authenticating by a Nicaraguan Consulate). Unlike some countries, gaining temporary residency is not hard and does not require working your way through a pile of red tape. There are fees to pay but they are very small.
After three years, you can supply all of these same documents to apply for a permanent residency card.

If you are an entrepreneur and are moving to Nicaragua to invest in business, you will need to apply for an Investor’s Visa. To apply for this, you will need the same documentation as for the temporary residency visa, plus a certificate from the MIFIC (the Ministerio de Formento Industria y Comercio) regarding the type of business that you are establishing.

Moving to Nicaragua is simple and easy and could be the best decision you ever make!

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Tags: Caribbean, immigration, incentives, residency, retire, retiree, tax, visa