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Nicaragua's 'big secret' that smart property investors have discovered

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By : Jane Bakerson    99 or more times read
Most people can’t get past the headlines when it comes to Nicaragua. They point with concern to the ‘close relationship’ that Daniel Ortega, (the current president) has for Venezuela’s controversial leader, Hugo Chavez. And they worry about the country’s rocky revolutionary past.

But if you take the time to study the actions of the Ortega Government instead of the rhetoric, read the laws that are being enacted rather than focus on the arguments in the National Assembly and visit the new businesses being set up instead of focusing on unemployment figures, you’ll come to realize that the Government is sweetening the deal for investors, business and retirees. The country has become a more attractive place to invest, not less.

Here are some examples:

  • The coastal law that had been stuck in the legislature for almost a decade and was holding up millions of dollars of investment was signed last year.

  • Also in 2009, Nicaragua established a new retirement program with benefits that will rival any in Central America.

  • Long standing Law 344 allows full foreign ownership of businesses and guarantees the rights of foreign investors. All profits can be expatriated with no questions asked.

  • Law 306 is a benefit-laden incentive program to encourage tourism related businesses.

  • The Tourism Board is planning a major upgrade to the San Juan del Sur port so that cruise visitors can disembark directly onshore. The goal is to increase the number of cruise ship visits to 100 per year.

  • Roads are being paved, the rolling electricity blackouts of the past are a distant memory and infrastructure is being upgraded in many parts of the country - including a new water pipeline from Lake Cocibolca to San Juan del Sur.

It’s exciting times for real estate investors, developers and foreign retirees in Nicaragua. Real estate is available at bargain prices (the country has the lowest cost real estate in the region according to data from Reveal Real Estate, a leading resource for international real estate) and the cost of living is far lower than the US or Canada (let alone Costa Rica, Belize or Panama).

To really understand the country, and it’s potential you need to look behind the headlines to find the real story. Then pack your bags and visit the country so that you can experience what is on offer in person.
Jane Bakerson writes about the state of the international real estate market in Nicaragua for overseas property site Reveal Real Estate.

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