Population | 7,142,529 (Feb. 2024 est.) |
Gross Domestic Product PPP (GDP) | US$35 billion (2024 est.) |
GDP Per Capita | US$2,158 (2024 est.) |
Inflation Rate | 5% (2024 est.) |
Currency | Gold Cordoba (NIO) |
Exchange Rate Versus U.S. Dollar | 36.78 cordobas per U.S. dollar (Feb. 2024) |
Language | Spanish (official) 95.3%, Miskito 2.2%, Mestizo of the Caribbean coast 2%, other 0.5% |
Capital | Managua |
Population of Capital City | 1,107,000 (2024) |
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% (Jan. 2024) |
Restrictions on Foreign Ownership of Property | None |
Local Chamber of Commerce | Rotonda El Güegüense Managua Tel: 505-2268-3505 |
American Chamber of Commerce | Plaza Espana, de la Rotonda el Gueguense 400 mts. al sur, 75 mts. al este Managua. 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 |
