Nicaragua has an array of significant tax incentives that have attracted thousands of retiring foreigners and private investors. And the advantages seem to hold as much appeal - if not more - as the year round, tropical climate, the low cost of living, and the timely real estate investment opportunities.

To retire in Nicaragua is to retreat to what MSNBC featured as "The World's Best Kept Retirement Secret" - and the U.S. News and World Report deemed Nicaragua one of the top 10 retirement destinations in the world.

Consider retirement age under Nicaragua's Decree No. 628, the Law of Resident Pensioners and Retirees - it's just 45 years young! That, in and of itself, is enough to motivate nearly anyone - and in fact has contributed to the influx of Americans, Canadians and Europeans who have been looking to retire overseas.

The process for qualifying as a retiree (again, 45!) is easy, the paperwork is minimal and the benefits are quite favorable.

As a retiree entering Nicaragua, you are entitled to:
- Tax exemption on any out-of-country earnings
- Duty free import into Nicaragua of up to $10,000 (US) worth of your own household goods
- Duty free import of one car for your personal use-and sell it after five years-exempt from sales tax.
- Import an additional vehicle every five years under the same duty exemptions.

To qualify for retiree status and obtain these tax benefits, you must have a monthly income of at least $400 (US), in addition to being at least 45 years of age.

And for those who aren't quite ready for the retirement lifestyle, Nicaragua offers tax incentives for businesses, too. If you invest in the "tourism industry"-which could be anything from running a boutique hotel to operating an antique shop-you can enjoy tax breaks of up to 100% on all your supplies, whether imported or bought locally.

Generally speaking, tourism investors may qualify for the following:
- Pay no income tax for up to ten years
- Pay no real estate tax for up to ten years
- Pay no tariff, import or sales tax on any business related supply brought into the country

Whatever your desires, the significant tax incentives available in Nicaragua make it easier for you to achieve your economic goals, save some tax dollars in a way that could never be achieved in the States or Canada, and fulfill your dreams of living in a tropical paradise here on Nicaragua's Pacific Riviera.