All You Need to Know About Living in Nicaragua

Moving to a new country can be as exciting as it is daunting. New beginnings are even better when you are prepared and armed with all the knowledge you need about your new hometown. This comprehensive guide will help you understand all you need to know about making Nicaragua your new home or investment.

Understanding the Real Estate Market in Nicaragua

Similar to many Central American countries, Nicaragua’s real estate market experiences fluctuations and is impacted by its economic and political stability. The country’s real estate market has evolved desirably and has become a growing gem in tourist and coastal regions. The influx of urbanization and the strong growth of the middle class have made urban areas like Managua a hot spot for the urban housing market.

Real Estate Investment Opportunities

Whether you’re interested in a beachfront property on one of Nicaragua’s beautiful coasts or searching for an urban apartment in Managua, the country offers diverse investment opportunities to meet any need. Nicaragua offers a more affordable investment opportunity than other countries in Central America, including appreciation of property value.

When selecting a property in tourist-friendly regions like San Juan del Sur or Granada, rental income is also advantageous. There are incentives for foreign investors, such as lower entry prices and high rental yields in tourist areas, but there are some challenges, too.

Navigating the Legalities of Living in Nicaragua

Though government policies, land reforms, and property rights issues have made foreign real estate investments tricky, the Nicaraguan government has recently taken steps to encourage foreign investment.

According to The Latin Investor, “changes in tax laws, property registration processes, and foreign investment regulations” play a significant role in foreign real estate investment. The Nicaraguan legal system may pose challenges for foreign investors, which is why working with a local real estate attorney can help streamline the process and ensure compliance.

Living in Nicaragua: Cost of Living Adjustments

Expats relocating to Nicaragua’s beachside regions can expect affordable living costs for a beautiful quality of life! Coastal communities in San Juan del Sur and Tola have become retiree hubs and offer the region’s lowest rental prices. Nicaragua isn’t just a great retirement plan but an excellent option for remote workers, families, and anyone in between. With great healthcare options and internationally accredited schools, the country is a hidden gem that offers Central America’s lowest cost of living and high levels of public safety.

Budgeting for Daily Life in Nicaragua

Living in Nicaragua is more affordable than in many Western countries, but budgeting wisely is still an important practice. Groceries, utilities, healthcare, activities, and other monthly expenses should be budgeted so that you can enjoy a high quality of life! Local markets are a great way to spend less on groceries while supporting the local economy — and eating well.

Healthcare and Education in Nicaragua

Nicaragua offers community-based, free public health care and education. The country’s Human Development Plan offers 92 health centers, 1,233 health posts, and 178 “mother houses” for labor, nursing, and pregnancy assistance. Unlike in the US, Nicaragua’s free health care covers care that Medicare often doesn’t — including dental care, hearing aids, glasses, and pharmaceuticals.

Nicaragua offers free education, including medical school.

Suppose you are looking for bilingual schools with internationally accredited curriculum programs that allow credit-transferring to North American schools. In that case, Nicaragua offers three great options in San Juan del Sur and Tola:

• San Juan del Sur Day School: $400 USD/month
• Escuela Adelante (San Juan del Sur): $75 USD–$150/month
• Escuela Santa Ana (Tola): $350 USD–$520/month

The Expat Community Living in Nicaragua

There is a large expat community in Nicaragua, which can help ease newcomers into life in the country. The welcoming nature of Nicaraguans and the existing expat community make moving to this beautiful country a less daunting experience. From retirees to surfers, the community is a thriving one.

Cultural Integration

Nicaraguans are welcoming, hospitable, and kind people. They look out for their communities, whether Nicaraguan, expat, or tourist, and will always offer a helping hand. Kindness goes a long way. They also embrace a “live and let live” mentality, which means you can live your life however you want without fear, judgment, or ridicule.

It’s important to embrace Nicaraguan culture, make an effort to learn the language and connect with the community and the country’s heritage. Lifestyle Perks

Life in Nicaragua is less stressful than in the US. It offers a more laid-back lifestyle rooted in community, nature, and adventure. Nicaragua transports expats from its beautiful coasts, awe-inspiring volcanoes, and breathtaking rainforests into a life of relaxation, adventure, and cultural immersion.

Visa and Residency Information

If you’re looking to move to Nicaragua, the country has two options for investors and/or expats. You can obtain residency through the Permanent Residency by Investment option or a Retired or Pensioner Visa visa.

Permanent Residency

To obtain a Permanent Residency by Investment, you must create a corporation and invest at least $30,000 in a local business, real estate, agricultural or forestry investments.

According to The Wandering Investor, you will need the following documentation to secure a permanent residency along with your investment:

• Investment Registration Certificate issued by the MIFIC.
• A certified copy of the Constitution of the Company or declaration as a merchant registered in the commercial register.
• Copy of the commercial registration of the corresponding Municipality and the DGI.
• Letter of application for registration
• Card single taxpayer registration (RUC) (single copy)
• Investment support documentation (single copy) includes invoices, receipts, deed of real estate purchase, purchase of inputs, vehicle fleet, professional services, office equipment, machinery, and payroll.
• General Power of Administration duly registered (single copy)
• Limited power of attorney (single copy)
• Deposit to General Directorate of Immigration for USD $400.00 approx per applicant
• Health check
• Police check
• Original passport and photographs
• Birth and marriage certificates

Retired or Pensioner Visa

If you’d rather go the visa route, you must be at least 45 years old and have a minimum $1,000 fixed monthly income.

According to The Wandering Investor, you will need the following documentation to secure your visa:

• Birth and marriage certificates
• Health check
• Police background check
• Application form
• Proof of pension

Living in Nicaragua FAQ

• What are the best areas for expats to live in Nicaragua?
  • The best areas for expats to live in Nicaragua include:
    • San Juan del Sur: Beach Town
    • Granada: Colonial City
    • Leon: Authentic Nicaraguan City
    • Matagalpa: Year-Round Green Nature
• How does the healthcare system in Nicaragua cater to foreigners?
  • While public clinics are typically dedicated to the poverty-level locals, clinics will provide care during times of emergency. Nicaragua offers community-based, free public health care to residents.
• What are the primary challenges of starting a business in Nicaragua?
  • Lack of infrastructure, low population density, high cost of goods and services.
• How can expats contribute to local communities while living in Nicaragua?
  • Volunteering is a great way to contribute to local communities, as is buying from local businesses and markets.

Living in Nicaragua at Rancho Santana

Moving to Nicaragua is a great option for remote workers, retirees, families, and anyone looking for a more relaxing and nature-centric life. The cost of living is significantly more affordable than in the US and neighboring Central American countries and offers a life rooted in community and adventure.

Opting for a more luxurious option brings you to Rancho Santana and its 2,700 acres of property, five pristine beaches, four farm-to-table restaurants, 21 miles of trails, and 6,000 square feet of wellness space. You can buy a turnkey home or build your dream property from scratch, designing your personal paradise.