|
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 |
