Retiree Options In Panama, Costa Rica, Guatemala, Belize, Nicaragua, Honduras, And El Salvador
"Kathleen, I've been reading your newsletter for quite some time now, and you have given me the taste of another...
Read more| Information Type | El Salvador Data |
|---|---|
| Population | 6,486,205 (June 2020 est.) |
| Gross Domestic Product (GDP) | $27 billion (2020 est.) |
| GDP Per Capita | $3,700 (2020 est.) |
| Inflation Rate | 0.06% (June 2020 est.) |
| Currency | US Dollar |
| Exchange Rate | 1:1 (US Dollar is the official currency) |
| Language | Spanish (official), Nahua (among some Amerindians) |
| Capital | San Salvador |
| Population of Capital City | 3,839,076 (2020) |
| Time Zone | UTC/GMT -6 hours |
| Seasons | Rainy season (May to October); dry season (November to April); tropical on coast; temperate in uplands |
| International Dialing Code | 503 |
| Electricity | 115V, 60Hz |
| System of Government | Republic |
| Name and Party Affiliation of Current Leader | President Salvador Sanchez Ceren (Since June 2014) |
| Income Tax Rate for Residents | Residents are only taxed on their Salvadorian-sourced income at progressive rates, from 10% to 30%. Non-residents are taxed via withholding at 20% or 25% on certain types of Salvadorian-sourced income. |
| Property Tax | 0.00% (Other fees include; 0.63% for registration, 3.00% for transfer, 0.15%-1.00% notary) |
| Capital Gains Tax | Capital gains earned by non-residents from selling property in El Salvador are taxed at 10% |
| Inheritance Tax | Inheritance is subject to income tax rates |
| Rental Income Tax | Non-residents are charged 30% tax on net income derived from leasing properties. |
| Sales Tax | 13% |
| Restrictions on Foreign Ownership of Property | No |
| Local Chamber of Commerce | http://www.camarasal.com/ |
| American Chamber of Commerce | http://www.amchamsal.com/ |
| Primary Exports | offshore assembly exports, coffee,sugar, shrimp, textiles, chemicals, electricity |
| Residency and Visa Requirements | To enter the country by air or sea, U.S. citizens must present a current U.S. passport and either a Salvadoran visa or a one-entry tourist card. The tourist card may be obtained from immigration officials for a ten-dollar fee upon arrival in country at an airport or seaport. |
| Residents or Retirees | no |
| National Airline | www.taca.com |
