Living and Investing in Nicaragua

Living and Investing in Nicaragua

By Tim Rogers
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After two decades of a revolution and devastating counterrevolutionary war, Nicaraguans lay down their weapons at the end of the 1980s and opted for a complete lifestyle change. Since then, the country has thrice ratified democracy and now touts the proud distinction of being the “safest country in Central America.” The new Nicaragua is a land of opportunity and near-perfect weather; a country starting fresh with the determination to do things differently from its dark past. Though traditional political divisions and shenanigans are an ingrained part of everyday life, politicos of every persuasion and party color are in general agreement that the mainsail of Nicaragua’s ship of state must be filled by the winds of tourism and foreign investment to sail into the future. Attractive foreign residency laws and tax incentives make Nicaragua one of the most alluring countries in Central America. Direct foreign investment in this country, known fondly as the “belly button of the Americas,” has jumped from nearly zero to $260 million in less than two decades. And the number is still climbing. Central America is the new hotspot for U.S. expatriates and retirees, and Nicaragua is quickly assuming its position on the top of that list. While Costa Rica fiddles with new legislation to make it more difficult for lower-income to middle-class foreigners to become residents there, Nicaragua is opening its doors wider to foreigners of all income levels to invest and retire here. Nicaragua is still an extremely impoverished country, the second poorest in the hemisphere behind Haiti. Government statistics show that Nicaragua is still trapped in poverty levels of the 1950s.