Country Profile:

Nicaragua, the largest country on the Central American isthmus, is renowned as a tourist destination, often referred to as “the land of volcanoes.” Despite its natural allure, it also ranks as one of the poorest nations within Latin America, experiencing ongoing protests since 2018.

Capital: Managua

Population: 6,359,689 (2023, 110th)

Ethnic Group: 69% Mestizo, 17% White, 9% Black, 5% Indigenous

Area: 130,375 km² (96th)

Offical Language: Spanish

Currency: Córdoba (as of Apr 9th, 2024, 1 Nicaraguan Córdoba equals 0.027 United States Dollar)

GDP per Captial: $7,642  (2023, 129th)

How To Become A Resident In Nicaragua:

Nicaragua is renowned for being among the most open countries for immigration in Latin America, offering a range of options for foreigners seeking long-term residency. Available paths include a permanent residency by investment program, as well as Pensionado and Rentista visa options.

Permanent Residency By Investment Program:

Foreigners who invest $30,000 in local businesses, real estate, or any plantation and agriculture project approved by the government can directly apply for Nicaraguan permanent residency.

Applicants must also meet basic requirements such as being in good health and having no criminal record, and deposit $400 per applicant (main applicant and each dependent) as a guarantee into a local bank.

Investors who can read and write Spanish, maintain their investment, pass a cultural integration test, and reside in the country for more than 180 days per year, are eligible to apply for Nicaraguan citizenship after just 2 years. This offers an expedited route to citizenship.

This permanent residency does not have a specific minimum residency requirement, but applicants are generally required to renew their local ID within the country every six months.

To apply for investment-based permanent residency, you need to first enter Nicaragua, complete your investment, then gather the required documents and submit your application. The entire process typically takes about 4 to 9 months.

Required documents include: 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) Such as invoices, receipts, deed of purchase of real estate, 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 aprox per applicant; Health check; Police check; Original passport and photographs; Birth and marriages certificates.

Visa fees include: a government fee of $500 per applicant, a processing fee of $215 for the main applicant, and a processing fee of $200 for each dependent.

Pensionado And Rentista Permit:

Nicaragua offers two types of income visas: the Pensionado (Retirement Residency) visa, which requires a minimum monthly income of $1,000, and the Rentista (Income Residency) visa, which requires a minimum monthly income of $1,250. Though functionally identical, the Pensionado visa is specifically designated for applicants who are 45 years old and above.

The visa application process necessitates the assistance of a local government-endorsed intermediary for submission, and the required documents include: passport, birth and marriage certificates, health examination, criminal record check, application letter, proof of income, among others.

The government fees for both income visas include an additional $250 per month in financial proof for each additional applicant, a processing fee of $200 per person (both principal and dependent applicants), and a government fee of $500 per person.

Both visas are valid for 5 years and can be renewed indefinitely. After meeting certain residency requirements, visa holders can apply for local permanent residency or citizenship.

Naturalization:

After living in Nicaragua continuously for 3 years, foreigners can apply for local permanent residency; after living in Nicaragua continuously for 4 years, foreigners can apply for a local passport.

Passport Power:

Nicaragua does not recognize dual citizenship. Its passport is ranked 43rd globally, allowing its citizens visa-free or visa-on-arrival access to 129 countries and regions worldwide (data as of January 10, 2024).

Useful Links:

Nicaragua Immigration Office：https://www.migob.gob.ni/migracion/tramites/solicitud-de-residencia-permanente