Why HNWIs Increasingly Flock to Latin American Residency Programs
Resource-independent, far from conflicts, and with some of the world’s simplest migration programs, LatAm has become a flag theory hotspot.
Nicaragua’s independent means visas give applicants a three-year path to permanent residency and a four-year path to citizenship simply by demonstrating a modest monthly income, from passive sources like rental income, dividends, or pensions.
Nicaragua enjoys a tropical, coastal climate, a low cost of living, and relatively low taxes.
Nicaragua is a popular retirement destination for a growing number of Americans, attracted in part by the country’s plentiful and inexpensive beachfront real estate.
Program Type | Independent Means Visa |
Time to citizenship | 4 years |
Time to permanent residency | 3 years |
Minimum investment | None. Proof of US$600 monthly income |
Physical presence requirement | None (183 days a year for permanent residency) |
Application processing time | 3-6 months |
Citizenship grants visa-free travel to | 126 destinations, including Schengen countries |
Contribution types available | No contrubution required |
General program requirements
Nicaragua offers two different types of independent means visa: Pensionado and Rentista. The visas are essentially the same, but the Pensionado has a minimum age of 45 years old.
For each visa, the applicant must demonstrate a recurring, monthly passive income.
Pensionado visa applicants must show a $600 monthly income while Rentista applicants must show a $750 monthly income.
In each case, the requisite income must be demonstrated and approved by Instituto Nicaragüense de Turismo (INTUR).
Additional fees and income requirements:
An additional $150 per month of income per dependent;
A $200 application fee for each person included in the application;
A $500 government fee for each person included in the application.
Program benefits
Requirements to qualify for citizenship
Both the Pensionado and Rentista visas are initially issued as temporary residence permits with one-year validity. The visas are renewable annually as long as the applicant can still demonstrate the necessary income. After three years of continuous residency, the applicant is eligible for permanent residency.
After four years of continuous residency, the applicant may apply for citizenship through a notary. Spanish, Guatemalan, Honduran, and El Salvadorian citizens are able to claim citizenship after just two years of residency.
Dual citizenship is not recognized unless the applicant comes from a country with a special citizenship treaty with Nicaragua.
Applications for this program may be directed to:
General Directorate of Migration and Foreigners (DGME)
Legislation upon which this program is based:
Law of Resident Pensioners and Retirees (Decree 628):
No statistics available yet for this program.
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Resource-independent, far from conflicts, and with some of the world’s simplest migration programs, LatAm has become a flag theory hotspot.
Beyond sharing Portugal’s climate, Latin culture, and Atlantic coastline, Uruguay offers a tax holiday similar to NHR, writes Philippe May.
In Panama, income-based visas are flying off the shelf like never before, while investment-based visa demand is plateauing.
Both countries offer a low-cost path to PR and citizenship in low-tax jurisdictions but also have important differences in conditions.
Argentina offers a lighting-fast path to PR and citizenship to those who can maintain themselves in this cheap, fun, but challenging country.
Panama has approved 388 investor visas so far in 2023. In the last six years, investors account for 16% of all residence permits issued.
Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Barbados SERP Program
Bermuda Economic Investment Certificate (EIC) Program
Brazil Investor Visa (VIPER)
Cambodia My 2nd Home
Cayman Islands Investor Visa
Colombia Investor Visas M and R
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Georgia Investor Visas
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program (discontinued)
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Paraguay Investor Permanent Residency Program (SUACE)
Philippines Special Investor Residence Permit
Portugal Golden Visa
Russia Investor Visa
South Korea Investor Visa
Spain Golden Visa
Taiwan Golden Visa (APRC Plum Blossom Card)
Thailand Elite Residence Program
UAE Golden Visa
UK Investor Visa (discontinued)
United States EB-5
Uruguay Investor Visa
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Austria Independent Means Visa
Barbados Welcome Stamp
Brazil Retirement Visa
Chile Independent Means Visas
Colombia Independent Means Visas
Costa Rica Independent Means Visas
Gibraltar Category 2 HNWI Residence
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Ireland Independent Means (Stamp 0)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Independent Means Visa
Peru Independent Means Visa (Rentista)
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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