Foreign retirees in Nicaragua enjoy a host of privileges:
- No tax on international income
- Renewable 5-year residency permits
- Duty free transport of household goods (up to $20,000)
- No sales tax on materials to build up business
- No import tax or protective tariff on car imports
- Ability to import automobile every 5 years
With the privileges, however, come some restrictions bound to your retiree-residency:
- Retirees cannot be employed in industrial or commercial business
- Retirees cannot be paid in Nicaraguan córdobas
Retirees can get an exception from these restrictions by consulting the Ministry of Economy and Industry under the following circumstances:
- They are interested in opening their own business
- They own real estate that is worth a minimum of $100,000