Retirement Incentives

Earlier this year the Nicaraguan government increased expat retiree benefits and tax exemptions that will save investors thousands of dollars.  Decree 694 from the Nicaraguan National Assembly was passed in order to better compete with programs in other Central American countries.  These new incentives are not unlike programs Costa Rica laid out in the 1980's that attracted many retired North Americans.  People who are 45 and over with a monthly income of at least $600 can take advantage of the following benefits plus more:

Sunset at the beach

• import up to US $20,000 worth of household goods for your residence, duty-free
• One (1) vehicle valued at US $25,000 or less will be permitted to enter Nicaragua and be used by the retiree, duty-free
• A retiree may bring one (1) additional vehicle to Nicaragua with a value of US $25,000 or less, duty-free, every five (5) years
• Retirees constructing residential homes will be awarded a tax exemption of US $50,000 off the cost of building materials