Nicaragua – An Unexpected Haven

Why Nicaragua needs to be on your radar

For a long time, Nicaragua has been somewhat of a lesser-known expat destination.

There is a perception of high crime and government corruption that has plagued the country’s reputation, mainly due to the political and civil unrest of the past, and generally caused people to write it off as a potential destination. Anyone who has floated out the idea of moving to or even just visiting Nicaragua to family and friends can probably attest to the fact that this is still the case for the majority of people.

However, over time more and more people have ventured down to Nicaragua and seen for themselves that perception is not always reality. They’ve experienced the rich culture, great climate and friendly people of Nicaragua firsthand, not to mention the low cost of living and a government that is very friendly to foreign investment.

But things really turned around for Nicaragua during the Covid-19 pandemic. In contrast to most governments around the world, particularly western governments, Nicaragua had a very libertarian policy with a focus on personal choice during the pandemic. This approach was very attractive to many freedom-loving people who were dealing with draconian rules in their home countries.

As such, people flocked to Nicaragua. So much so that there has been an estimated 3000% increase in immigration into Nicaragua since the pandemic. The so-called conventional wisdom may still state that Nicaragua is a dangerous country you should avoid, but that opinion is changing as more and more people give this beautiful country a chance.

Feeling intrigued and ready to learn more? Read on!

Living in Nicaragua

Nicaragua is located in Central America, with Honduras to the north and Costa Rica to the south. At a less than 3-hour plane ride away from major hubs like Miami and Houston, Nicaragua is very accessible from the United States and Canada. The airport is located in the capital city of Managua and from there, assuming you are staying on the Pacific side of the country where most of the large cities and resorts are located, it is easy to jump onto the Pan-American highway and get to your final destination.

Known as the land of lakes and volcanoes, Nicaragua is an incredible place to explore. From the beautiful beaches, rainforests and volcanoes to the colonial cities and funky beach towns you will never lack for things to do or places to go.

With a tropical climate year-round, you can look forward to leaving your winter coats at home! Not sure you are up for the heat of the beach and looking for a more temperate climate? Simply head further inland to the central part of the country or up into the mountains to enjoy cooler temperatures.

Now, let’s address the safety question. It may surprise you, but Nicaragua is actually the safest country in Central America and even has a lower crime rate than the United States! As with anywhere, you need to take precautions to keep yourself and your belongings safe and avoid sketchy areas. But the Nicaraguan people are very friendly and helpful and most expats feel very safe there.

The cost of living is a huge benefit to living in Nicaragua, with prices far lower that you will find in places like the United States and Canada. It is even much cheaper than its neighbour, Costa Rica, so you can experience that same tropical lifestyle at a much lower price. After all, who doesn’t love a great deal?

Nicaragua boasts a growing tourism industry and is eager to welcome foreigners into the country on a more permanent basis with a variety of residency categories including rentista, pensionado and investor options. More on the investor residency below.

Investing in Nicaragua

Not to be cliché, but investing in Nicaragua is truly getting in on a ground-floor opportunity. Inflation and general worldwide shenanigans have increased costs everywhere, and an investor residency in Nicaragua is an incredible bargain compared to countries like Costa Rica and Panama.

How much of a bargain exactly? An investment of just $30,000 is required to qualify for an investor residency in Nicaragua. This is one of the lowest amounts in Latin America and a great opportunity to hop on while it lasts because, as mentioned earlier in the article, Nicaragua is seeing much higher levels of immigration since the pandemic, so there is potential to see prices increase in the future.

Nicaragua has plenty of unique investment opportunities that will enable you to qualify for the investor residency, but one of our favourites is teak, a high-value hardwood. Since there isn’t much of a natural supply of teak available, teak plantations are now supplying much of the demand. Buying a parcel of teak is not only a great investment – hello, diversification! – but it can also qualify you for your investor residency. Win-win!

Start working on your Plan B now!

Nicaragua is a beautiful country with huge potential and the world is starting to take notice. We have only just scratched the surface in this article but we hope you can see why this dark horse needs to be firmly on your radar as a Plan B destination for you and your family.

To help you with your research and planning, we’ve put together a comprehensive Nicaragua Handbook – totally free for you to download.

Don’t sleep on this opportunity to live your best life at a great price! Download our free Nicaragua Handbook and start working on your tropical Plan B today!

Lisa is an aspiring expat from Canada who is working to put together her Plan B with a young family in tow. She is excited to pair her lifelong love of writing with her passion for offshore strategies and outside-the box investments in her weekly articles for Escape Artist readers. Follow this “rebel with a cause” as she walks the path less traveled and shares her experiences along the way.

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