Are there tax advantages or disadvantages if I retire or work in Nicaragua?

The government in Nicaragua provides are some great incentives to be a retired foreigner here.  You will need to apply for your cedula - which requires some paperwork regarding police records and your health but to qualify you only need to be over 45 years old and have a monthly income of at least US $600.
 
The benefits come mostly in the form of tax incentives. I think the top three are: 

1. Pay no taxes on any out-of-country earnings.
2. You...

The government in Nicaragua provides are some great incentives to be a retired foreigner here.  You will need to apply for your cedula - which requires some paperwork regarding police records and your health but to qualify you only need to be over 45 years old and have a monthly income of at least US $600.
 
The benefits come mostly in the form of tax incentives. I think the top three are: 

1. Pay no taxes on any out-of-country earnings.
2. You can bring up to $20,000 of household goods into Nicaragua (for your own use)  duty-free.
3. You can import or purchase one automobile for personal use, duty and tariff-free up to $25,000, and sell it, tax-free, after five years. 

And with your residency - you don't need to leave the country or renew your tourist visa every 3 months.