Can foreigners own property in Nicaragua?

Unlike other countries, Nicaraguan law makes no substantial differences between its citizens and foreigners with regards to rights of ownership of any kind. This means that it doesn't matter where you come from. If you have a valid passport with you, you can purchase a car, a boat or a piece of land just like any "Nica."

How is buying in Nicaragua different than I am used to?

In many ways the process in similar - price, location, investment opportunities, the need for these will never change. But buying property in Nicaragua involves some procedures you may be unfamiliar with. Our agents are experienced professionals and our in-house legal team are ready to help whenever they're needed.

What about the government? Is it stable?

Nicaragua has a democratically elected government. Daniel Ortega, the current president was elected in 2006 and has proven to be a strong supporter of foreign investment. Under Ortega, laws have been enacted to encourage development of tourism-related businesses. Nicaragua has made vast improvements in it's infrastructure and the country remains on good terms with the International Monetary Fund. The Washington Times reported on Ortega's investment-friendly approach in August 2007.

Must I speak Spanish to complete the transaction?

The closing is conducted in Spanish and your contract will be written in Spanish, but your lawyer will be able to translate any documents for your. If you grant Limited Power of Attorney to your C21 agent, there's no need for you to even be in the country at the time of closing. The process can be difficult if you aren't fluent in Spanish, but we can take the worry out.

What about taxes in Nicaragua?

There are taxes due at Closing that are equal to about 4% of the purchase price. Annual taxes on property are reasonable, and a special ordinance, Known as Law 306, allows property owners to forgo payment of property tax for ten years on property used to promote or encourage tourism.

Do I need a Visa to visit?

Citizens of the U.S., Canada or Western Europe can stay in Nicaragua on a tourist permit for up to 90 days. During that time you are not allowed to work. If you plan to stay longer than 90 days, you should begin the immigration process as soon as possible.

Ask us a question!

Call 760-536-8332 or send us an email to arrange a personal tour or to get more information.