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      Nicaragua Facts and Figures

      Facts About Nicaragua

      Reviewed by Kathleen Peddicord

      Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.


      There are many interesting facts about Nicaragua, including it being considered the oldest city in the Americas. It is also the largest among all Central American countries and is relate in size to the US state of New York. Like many countries in the region, Nicaragua was rules by Spain for many years. Interestingly, Nicaragua’s Lake Managua is one of the only freshwater lakes in the world to have sharks.

       

      Information Type

      		 Nicaragua Data

      Population

      		 6,624,554 (June 2020 est.)

      Gross Domestic Product PPP (GDP)

      		 US$13.4 billion (2020 est.)

      GDP Per Capita

      		 US$2,000 (2020 est.)

      Inflation Rate

      		 5.38% (2020 est.)

      Currency

      		 Gold Cordoba (NIO)

      Exchange Rate Versus U.S. Dollar

      		 34.35 cordobas per U.S. dollar (June 2020)

      Language

      		 Spanish (official) 95.3%, Miskito 2.2%, Mestizo of the Caribbean coast 2%, other 0.5%

      Capital

      		 Managua

      Population of Capital City

      		 1,042,641 (2020)

      Time Zone

      		 GMT – 6

      Seasons

      		 Tropical, rainy season lasts from June to December.

      International Dialing Code

      		 505

      Electricity

      		 120V / 60 Hz. Plug Type: A (US style)

      System of Government

      		 Republic

      Current Leader

      		 President Daniel Ortega (since Jan. 10, 2007)

      Income Tax Rate for Residents

      		 Residents are taxed on their Nicaraguan-sourced income at progressive rates, from 10% to 30%.

      Property Tax

      		 0% to 1%

      Capital Gains Tax

      		 Are taxed according to a progressive rate schedule, up to a maximum of 30%. A withholding tax rate of 20% is levied on capital gains realized by nonresident individuals through selling Nicaraguan real estate properties.

      Inheritance Tax

      		 Inheritances and gifts are taxed at the ordinary progressive income tax rates, from 10% to 30%

      Rental Income Tax

      		 Taxed as income tax rate.

      Transfer Tax

      		 1% to 3%, paid by seller levied on certain types of documents, the amount varies depending on the transaction.

      Sales Tax

      		 15%

      Restrictions on Foreign Ownership of Property

      		 None

      Local Chamber of Commerce

      Rotonda El GüegüenseManagua

      Tel: 505-2268-3505

      American Chamber of Commerce

      		 www.amchamnic.org.ni

      Plaza Espana, de la Rotonda el Gueguense 400 mts. al sur, 75 mts. al esteManagua

      Tel: 505-2266-2758

      Primary Exports

      		 Coffee, beef, shrimp, lobster, tobacco, bananas, cotton, rice, sugarcane, corn, sesame, soya, beans, veal, pork, poultry, dairy products.

      Residency and Visa Requirements

      		 Tourist Visa: Automatic 90 days upon entry.

      Residency: Permanent residence and investor’s residence visas, including pensionado and rentista.

      Citizenship: Three years of uninterrupted, legal residence.

      Special Benefits for Foreign Residents or Retirees

      		 No income tax on external income. Tax-free import of household goods and vehicle.

      National Airline

      		 None

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