Obtaining Residency in Nicaragua
Do you dream of moving to Nicaragua but wonder about the legalities of living in a foreign country? Many people ask us about residency requirements vs. living on a tourist visa. It is true, you may live here on a tourist visa, but the visa must be renewed every 90 days. You do not need residency to buy or own property in Nicaragua, but if you are considering Nicaragua as a permanent or retirement locale or plan to operate a business, open a bank account, and more, it is important to know the facts. Managua attorney Paul Tiffer has provided us the following information.
There are several ways to apply for and obtain residency. We are including the three most common, however, there are other options as well.
Foreign Investor. According the law, any foreign investor can apply for residency if he or she runs a business, is forming a corporation and will invest at least $30,000 in Nicaragua in any sector (tourism, real estate, agriculture, energy, mining, communication, importation, education, fishing, natural resources, transportation etc.).
Business. This kind of residency is provisional for one year and it is possible to renew every year, it will be mandatory to incorporate a business.
Pensioner or Renteirs: This category is for people who receive a pension from abroad of more than $600 per month. A rentista is anybody who has a private income of more than $750 coming from investments such as stocks, bonus, or any kind of revenue. Salaries do not apply.
In all cases, the applicants for residency must provide the following supporting documentation: birth certificate, police record and a health certificate.
The Casa Granada Team