Many foreigners looking to retire in Nicaragua are drawn to the colonial charms of Granada
To retire in Nicaragua is to retreat to what MSNBC featured as "The World's Best Kept Retirement Secret" and U.S. News and World Report deemed one of the top 10 retirement destinations in the world.
Today, Nicaragua is a premier destination for Americans, Canadians, and Europeans thinking about retiring overseas. Driven by an early-in real estate investment opportunity, low property taxes, and a low cost of living tied to an increase in quality of life, Nicaragua is a hot destination for would-be expatriates looking to flee a rising cost of living in their home countries.
There are two other critical factors that have also played a considerable role in defining Nicaragua's fate as a premier retirement destination: a comprehensive retiree benefit program and the many desirable locations scattered throughout the country.
Nicaragua's Retiree Benefit Program Makes a Retirement in Nicaragua Easy
Nicaragua's retirement laws provide some excellent tax incentives for foreigners. The laws were based upon the retiree benefits offered to many in Costa Rica during the 1980s.
Under Decree No. 628, the "Law of Resident Pensioners and Retirees," you're eligible for benefits if you are over 45 years of age and have a monthly income of at least $400 or the equivalent in another currency. (Add an additional $100 for each dependent family member living with you in Nicaragua.)
Many retirees are retiring in Nicaragua to take advantage of the country's amazing coastline
These benefits for those retiring in Nicaragua come mostly in the form of tax incentives. As a foreign retiree, you're entitled to 1) pay no taxes on any out-of-country earnings; 2) bring into Nicaragua up to $10,000 worth of household goods for your own home duty free; 3) import one automobile for personal or general use and pay on it no import tax or protective tariff and sell it after five years, again exempt from consumer sales tax; 4) import an additional vehicle every five years under the same duty exemptions.
Where Are the Foreigners Retiring in Nicaragua Locating?
The hottest Nicaraguan retirement destinations right now are the colonial cities of Granada and Leon, the capital of Managua, and most notably the southwestern corner of the Pacific coast around San Juan del Sur, where beachfront property options abound.
Retire in Nicaragua
Many foreigners looking to retire in Nicaragua are drawn to the colonial charms of Granada
To retire in Nicaragua is to retreat to what MSNBC featured as "The World's Best Kept Retirement Secret" and U.S. News and World Report deemed one of the top 10 retirement destinations in the world.
Today, Nicaragua is a premier destination for Americans, Canadians, and Europeans thinking about retiring overseas. Driven by an early-in real estate investment opportunity, low property taxes, and a low cost of living tied to an increase in quality of life, Nicaragua is a hot destination for would-be expatriates looking to flee a rising cost of living in their home countries.
There are two other critical factors that have also played a considerable role in defining Nicaragua's fate as a premier retirement destination: a comprehensive retiree benefit program and the many desirable locations scattered throughout the country.
Nicaragua's Retiree Benefit Program Makes a Retirement in Nicaragua Easy
Nicaragua's retirement laws provide some excellent tax incentives for foreigners. The laws were based upon the retiree benefits offered to many in Costa Rica during the 1980s.
Under Decree No. 628, the "Law of Resident Pensioners and Retirees," you're eligible for benefits if you are over 45 years of age and have a monthly income of at least $400 or the equivalent in another currency. (Add an additional $100 for each dependent family member living with you in Nicaragua.)
These benefits for those retiring in Nicaragua come mostly in the form of tax incentives. As a foreign retiree, you're entitled to 1) pay no taxes on any out-of-country earnings; 2) bring into Nicaragua up to $10,000 worth of household goods for your own home duty free; 3) import one automobile for personal or general use and pay on it no import tax or protective tariff and sell it after five years, again exempt from consumer sales tax; 4) import an additional vehicle every five years under the same duty exemptions.
Where Are the Foreigners Retiring in Nicaragua Locating?
The hottest Nicaraguan retirement destinations right now are the colonial cities of Granada and Leon, the capital of Managua, and most notably the southwestern corner of the Pacific coast around San Juan del Sur, where beachfront property options abound.
Today, International Living's local office in Nicaragua offers its client base excellent real estate opportunities in these areas.
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