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Best Places In The World To Retire Community Questions and Answers about living and retiring abroad

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Mike Cobb of ECI Development – Best Places In The World To Retire User Account
Retirement in Nicaragua is made easy by a pensionado program aimed at attracting retirees to the country. For the Nicaraguans, a retiree is a 365-day tourist and the living expenses and employment created are perpetually put into the local economy.  The Nicaraguan retirement program allows for the following:
  • Importation of household goods without duty in the amount of US $20,000.
  • Importation, or purchase locally, of a new motor vehicle every 5 years without import duty.
  • No sales tax on the first US $50,000  of new home construction materials.
  • No Nicaraguan tax on funds brought into the country
Gabriel Sánchez of PRONicaragua – Best Places In The World To Retire User Account
There’s a special law for pensioners and retirees who want to relocate to Nicaragua. The benefits include bringing a whole container of household items with tax exemptions and bringing in vehicles with certain fiscal incentives as well.
 
I don’t think there is any preferential treatment aside from the incentives for the relocating process.
 
You can bring a car in, sell the car and buy another one and still have a certain exemption but it is linked to the law and fiscal incentives.
Darrell Bushnell – Best Places In The World To Retire User Account
The Nicaraguan government has a retirement program for expats. It is pretty close to the retirement program offered by Panama. Here in Nicaragua, as long as you are 45 years old and have at least a certain amount of income coming in through pension or social security, you can bring in US $20,000 worth of household goods tax-free. You can also bring up to a $25,000 vehicle, tax-free.
 
Nicaragua does not have discount privileges like Panama has. Here in Nicaragua they call it "Tercera Edad," which translates to "Third Age" and refers to people who are over 60 years old. If you are Tercera Edad, you might get discounts at the movies and maybe even in a few restaurants, but not that many.
 
Every bank in Nicaragua has a teller just for people over 60. I love it. It makes banking transactions easier. This accommodation is cultural; it is not because of a law or anything else, but because Nicaraguans are good people and they treat their elders very well.
Paul Tiffer of TIFFER & ASOCIATES – Best Places In The World To Retire User Account
There are several ways to apply for residency in Nicaragua.
 
Law 694 gives the opportunity for people who have a pension to apply and obtain permanent residency - for five years - and obtain some tax exemptions. The law states that the applicant has to have a pension of US $600 per month. The same law will cover people who have private incomes, such as revenues coming from bonus, stocks or any other investments, with the requirement that they prove an income over $750 per month.
 
Some other ways to become a permanent resident include as a foreign investor, businessperson, spouse, missionary, and so on.
 
 

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Best Places In The World To Retire Expat Stories contains text, video, and photos by people just like you who are already living abroadStories by expats & others about their life aborad.
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