Residency in Nicaragua
Disclosure – NewNicaragua are not lawyers and the following tips stem from experience only.
There are dozens of classifications under which foreigners can apply for Residency in Nicaragua. The best way to find which one fits your needs is talking to an immigration specialist. Once you have identified the correct classification, it is recommended to contact a lawyer who has experience working with the various entities involved in the process.
For all paper work involved in your residency process it is very important you make sure to take note of the life span for the validity of each document, as these will “expire”and you will need to begin the process once again.
In essence, most foreigners are cooking to become residents in the following majors branches for applications.
As a retiree, the government of Nicaragua is looking for some basic numbers. Nicaragua wants to make sure you will not become a burden on the current economic system, for this reason, they want to make sure you can sustain yourself long term. In the governments eyes, the only true and secure way to ensure income is through social insurance checks issued by your home countries government. Your interest payments, stocks payments or Privately held Trusts payment ill not suffice in the eyes of the government.
When applying for Rentista please make sure you fulfill all the requirements exactly as stipulated by the immigration department. Please make sure to take note of the life span for the validity of each document, as these will “expire”and you will need to be gin the process once again
As a rentista. You residency will not allow you to work. If you want to work, ou will have to undergo a second process to be granted a work permit.
With the Inversionista residency process the government is looking to make sure you investment in the country involves an investment that will produce good jobs to local Nicaraguan citizens. If you plan to buy land that covers your minimum dollar amount requirement and want to apply for residency as an investor, the simple land investment will not suffice. You will need to prove that you have hired people to work on your land or provide services on a regular basis. They will want a record of dollars amounts paid on a monthly basis and work contracts for the people employed.
As an “inversionista”, you will not be given a work permit you will need to apply for a specific classification within the process. This will cause some red flags to go up when the immigration specialist if reviewing your case. You will need to prove that you have the full intention to pay income tax via a RUC number (equivalent of a TIN – Tax ID) RUC can be held in your personal name as a natural person or as a Corporation a.k.a. Sociedad Anonima.
When applying for residency through marriage the government of Nicaragua will be looking to ensure that the marriage is real. You need to provide pictures to support your relationship. Your Nicaraguan partner will also need to prove that they can support you financially. If you can provide proof of financial independence, that is always helpful. When children are involved, birth certificates proving the Nicaraguan Partner and yourself are the parents of the child/children.
With residency by matrimonio, you will need to specify if you plan on working in Nicaragua in order to ensure a work permit in your residency status.
Government Entity in charge of Residency process is: