Retiring In Nicaragua
Life as an expat in Nicaragua is often overlooked and overshadowed by Costa Rica to its southern border, but do not underestimate this small Central American country. Nicaragua is full of nature, lakes, oceans, wildlife, adventure, and culture.
Nicaragua is very popular with backpackers who want to experience Central America on a budget. As one of the most affordable countries in the region, it is becoming more popular with retirees from the United States and Canada who want to get more for their money. The cost of living here can be as much as ten times cheaper than in the United States. How is that for life as an expat in Nicaragua?
Infrastructure
In recent years, Nicaragua has taken huge strides in improving its infrastructure. Roads here are in some of the best condition of all of Latin America. The country has made large investments in its cellular and internet networks, increasing both speed and reliability.
Renewable energy is also becoming a priority for Nicaragua by taking advantage of sugarcane biofuel, wind energy, and geothermal energy from the country’s 19 volcanoes. More than 80% of Nicaragua’s energy is renewable, and that number will continue to rise in coming years.
Business Friendly
Another benefit for those who are retiring in Nicaragua is the laws regarding business and investments from foreigners. Most foreign investors will enjoy ten years without taxes. With tourism on a steady rise in Nicaragua, investments in the tourism industry are a good bet. Also, unlike some countries in Central America, when you buy property in Nicaragua, it is owned 100% by you, and you are free to do whatever you wish with it.
Real Estate
Property in Nicaragua is considerably more affordable than properties in the United States or Canada. Retirees considering life as an expat in Nicaragua can find a multi-bedroom home near the beach, the lakes, in a city, or near the volcanoes for less than $100,000 USD. Monthly rent for an apartment in or near the center of any of the main Nicaraguan cities is generally between $250-400 USD. Coupled with generally low property taxes, Nicaragua creates a real estate market where your money can go quite a long way.
Health Care Nicaragua
Nicaragua offers a fairly easy process for retirees to gain an official residency visa. Once that is completed, you will have access to Nicaragua’s universal healthcare system, free to residents. The universal system is ranked #71 out of all healthcare systems worldwide by the World Health Organization.
Life as an expat in Nicaragua includes the assurance that the public system can pay for the private hospitals and clinics, which may deliver a better result. It is common to have Nicaraguan doctors who studied and trained in the United States, so the healthcare level here is generally better than in other Central American countries.
In Conclusion
Nicaragua is most definitely not a boring place to retire. With world-class beaches on both the Pacific and Caribbean coasts, lakes, islands inside of lakes, 19 volcanoes, several very culturally exciting cities, and everything in between, Nicaragua is sure to keep your retirement exciting while making your dollar go quite a bit farther while you spend your life as an expat in Nicaragua.