Home > North America > Nicaragua > Nicaragua Pensionado/Rentista Visa | A Complete Guide
Nicaragua Pensionado/Rentista Visa | A Complete Guide
What is Passive Income Visa?
Passive Income Visa refers to a visa system where applicants can obtain long-term residency in a destination country based on a certain amount of income/savings without the need to invest or work.
Generally speaking, passive income visa programs in various countries have the following characteristics:
1. Strict limitations on the source of income: The applicant’s income needs to be completely passive, such as interest from savings, financial trusts, pensions, or at least non-wage income like investment returns, dividends, and distributions.
2. Visa holders cannot utilize local resources: In theory, you can only consume in the destination country and cannot seek employment locally. You also need to purchase your own health insurance and cannot use free welfare resources such as medical services.
3. Potential for eventual immigration: Almost all countries with passive income visa programs allow participants to apply for permanent residency or citizenship after legally residing there for a certain period.
If you are interested in a passive income visa, you can read another guide on the website: “Global Passive Income Visas | An Incomplete Guide”.
Nicaragua Pensionado/Rentista Visa:
Similar to many Spanish-speaking Latin American countries, Nicaragua offers two types of income-based visa pathways for foreign applicants:
1. Retirement Visa (Pensionado):
This visa is issued to applicants over 45 years old who will have a passive income of at least US$1,000 per month for the next five years.
The validity of the Nicaraguan Retirement Visa is directly linked to the source of the applicant’s income. If your income comes from a permanent source, such as a government pension, the visa will be valid for five years. However, if your income is from sources that aren’t necessarily permanent, like rental income or annuities, the visa’s validity might only be one year.
2. Passive Income Visa (Rentista):
This visa is granted to foreign individuals with a monthly passive income of at least US$1,250.
For either visa type, if dependents are accompanying the main applicant, the required monthly income for the main applicant will increase by US$250 for each additional dependent. This means that for a married couple applying together, the main applicant would need to show proof of a monthly income of US$1,250 for the Retirement Visa, or US$1,500 for the Passive Income Visa.
Beyond these financial requirements, applicants for both visa types must also meet basic conditions such as being in good health, having no criminal record, and having no history of illegal entry into Central American countries.
Application Process:
The application process for Nicaragua’s Pensionado and Rentista visas can be somewhat complex. In essence, after gathering all required documents, you’ll submit your visa application to the Nicaraguan Tourism Board.
Required documents include:
- Applicant Identification Documents: This covers passports for all primary and dependent applicants, valid for at least six months, along with passport-sized photos, and relationship verification documents such as birth certificates and marriage certificates.
- Application Forms: You’ll need to complete an application form and write a letter stating your intention to reside in Nicaragua.
- Proof of Income: You must provide sufficient income verification, including bank statements and a letter from your bank.
- Medical Examination Certificate.
- Criminal Record Certificate: All adult primary and dependent applicants must provide a criminal record certificate from their previous country of residence.
- Proof of Health Insurance: You’ll need to purchase valid Nicaraguan health insurance for each primary and dependent applicant annually.
- Proof of Visa Fee Payment: The visa fee for both the Retirement and Passive Income programs is US$200 per primary or dependent applicant. Additionally, all primary and dependent applicants must pay a government fee of US$500 per person.
All documents originating outside Nicaragua must be notarized, and any documents not in Spanish must be translated into Spanish.
Generally, the processing time for the Nicaraguan Retirement Visa is between one and two months, while the Passive Income Visa may take slightly longer.
Dependets:
For both the Nicaragua Pensionado Visa and the Rentista Visa, the primary applicant’s spouse, minor children, and other financially dependent children or direct relatives (like parents) can all reside in Nicaragua as dependents.
Minimum Stay Requirements:
While Nicaragua’s visas don’t have an explicit minimum stay duration, applicants are generally required to renew their local ID within Nicaragua every six months.
Visa Validity:
Both the Nicaragua Pensionado Visa and the Rentista Visa are valid for a maximum of five years. As long as you continue to meet the original conditions, you can renew them indefinitely.
After legally residing in Nicaragua for three years, foreign nationals are eligible to apply for permanent residency.
After five years of legal residency in Nicaragua, foreign nationals may be eligible to apply for naturalization. To qualify, you must reside in the country for at least 180 days per year, have a basic understanding of Spanish, and pass a Spanish-language test on Nicaraguan culture and history.
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