Located in Central America just north of Costa Rica and Panama, Nicaragua has been called “The World’s Best Kept Retirement Secret” by MSNBC. Already home to more than 3,000 Americans, Nicaragua encourages retirees from North America and Europe to come over with a generous tax structure, real estate opportunities for foreign investors, and low cost of living. In fact, Nicaragua tied for the lowest living cost in International Living’s 2015 annual index. Add gorgeous scenery, warm weather, friendly people, and a low crime rate, and you have one of the top 10 retirement spots in the world, according to U.S. News and World Report.
The Nicaraguan government offers significant benefits to foreign retirees. These include no taxes on out-of-country earnings; duty free shipping of up to $20,000 of household goods into the country; sales tax exemption on the purchase of up to $50,000 of home construction materials; and tariff-free import of an automobile valued up to $25,000 every five years (although many of the roads are still subpar by American standards so it may be better to take public transportation). You also get low, native entry fees to national parks and monuments instead of the higher, foreigner fees. To be eligible, you only have to be age 45 or higher with a monthly income of at least $600.
What is Nicaragua like? Watch this video:
Learn more about retirement in Nicaragua at retirepedia.com
Hear from actual expat retirees at expatexchange.com
View the State Department Nicaragua page
Learn about crime and safety in Nicaragua