Nicaragua Facts and Figures

Facts About Nicaragua

There are many interesting facts about Nicaragua, including it being considered the oldest city in the Americas. It is also the largest among all Central American countries and is relate in size to the US state of New York. Like many countries in the region, Nicaragua was rules by Spain for many years. Interestingly, Nicaragua’s Lake Managua is one of the only freshwater lakes in the world to have sharks.

Information Type	Nicaragua Data
Population	6,624,554 (June 2020 est.)
Gross Domestic Product PPP (GDP)	US$13.4 billion (2020 est.)
GDP Per Capita	US$2,000 (2020 est.)
Inflation Rate	5.38% (2020 est.)
Currency	Gold Cordoba (NIO)
Exchange Rate Versus U.S. Dollar	34.35 cordobas per U.S. dollar (June 2020)
Language	Spanish (official) 95.3%, Miskito 2.2%, Mestizo of the Caribbean coast 2%, other 0.5%
Capital	Managua
Population of Capital City	1,042,641 (2020)
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%
Restrictions on Foreign Ownership of Property	None
Local Chamber of Commerce	http://www.ccsn.org.ni/ Rotonda El GüegüenseManagua Tel: 505-2268-3505
American Chamber of Commerce	www.amchamnic.org.ni Plaza Espana, de la Rotonda el Gueguense 400 mts. al sur, 75 mts. al esteManagua 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