Possibly Nica?

Hello

My name is joseph, an American living in Southern California.
I am considering moving to and opening a business in Nicaragua.
I would be in your debt if you'd advise on few questions I have below – thank you in advance.
I would first like to tell you something about myself, so that your response would be more tailored.

I've not yet reached the “official” retirement age, thus no pension of any kind, but as of this year (2013) I have retired from my life long vocation in the field of software engineering.   Having traveled several dozen countries in the past, Nicaragua – Corn Island being one, I am convinced that in order for me to stay retired with the funds I posses, I've a better chance elsewhere than within the bounds of United States.  Since my retirement – rather decision to do something different than working with abstract concept of trying to apply logic where it doesn't belong, namely human psyche -   I've been employed as a scuba instructor and a professional photographer in Maldives by the likes of Conrad-Hilton and Viceroy resorts (I hold professional certifications/background for those disciplines).

I am a long-time divorced man with grown kids living their own productive lives and unencumbered financially (no debts, no mortgage – house recently sold and no aging parents).  I do have some funds, which I would like to use to establish my retirement dream (buying work, I guess), but I fear that I do not have enough.  I have recently returned to U.S. from traveling and working abroad for the past several months and I'm temporarily staying with a friend until I find a suitable destination to explore.  If I stay too long in the States, I will need to dig into my saving, or worse yet, return to my former vocation due to cost of living here in Southern California.  So, the bottom line is, I am prepared and ready to get on a plane and see for myself whether or not a do-able opportunity exists.

What I wish to do is as follows…
A small bar & grill serving primarily beer, few mixed drinks and simple food – no white table clothes or desert forks.  I don't know if liquor license or Health Inspection certification are required to run such a business or even if there is a such a thing in Nicaragua.  Places I've visited and researched (Little Corn and Ometepe Islands) didn't seem to be bothered by such a thing.   
While it sounds ludicrous, I would like to invest no more than 10-15k initially to buy-in on an existing business for sale (if there are any) or rent a vacant commercial property under lease and invest about the same to open the business.  These numbers are not a hard and fast rule and I am flexible to a degree, but I have no delusions that I will be wildly successful the first time out, and therefore I am cautious with funds.

My questions are:
1.    Do you know or have contacts at your disposal who can tell me if such a venture is possible with the amounts I've proposed?    Perhaps a Realtor you would care to recommend?
2.    Is there a town or village near you with a steady traffic from visitors, tourists and/or backpackers?  Of course, with the understanding of diminished traffic in off-season.
3.    One of the reasons why I am considering Nicaragua is, as I understand, foreigners are allowed to buy property in country.  I do not wish to buy any property at the moment nor do I wish to invest a great deal of funds, but that may change in the future should my ventures unfold in my favor.  Having said above, one of your posts suggested that one should get the “necessary documents to obtain residency”.  Would you enlighten me as to what documents are necessary and how best to prepare myself while in the U.S. so that I do not go back and forth unnecessarily?

Thank you, your answers would be much appreciated.

joseph

Hi,

  I will try to, at least give you some clues on hox to do business in Nica. First of all, to obtain the residence for 5 years, your minimum investment is 30.000 USD into a busines, whatever busines you would like to do. I am, together with my son, starting an hotel in Leon and I should tell you that, although the Nica administration is open to help you at their own rithm !!! there is a lot of regulations specially for businesses operating with food and alcool and receiving people. You will need licences for alcool, comply with hygiene rules and egt the safety agreement by police and fire authorities. I don't want to enter into fine details of how to run the operation from A to Z but could be able to answer more questions on private message where we can exchange personal Email address.

So, everything is possible but don't think about an easy ride in front of you. So maybe we would talk again soon.

Looking forward to talking to you.Best regards

The other gentlemen is correct in that the regulations do exist for food, business and alcohol. If you get away from the larger towns there are fewer regulations. I live in Granada so it would take a larger investment to get started though there is always the possibility of partnering with someone or finding a small hotel that would like someone to run the food and bar business.

If you go to the beach areas there are some possibilities off the beaten path but much easier to partner with someone or an existing business. You do not need to be a resident to have a business or to buy property but then you must leave every 90 or 180 days.

Since the other gentleman seems to have some experience, see what he suggests but the trick is to determine the location you want to be and be careful who you partner with or hire. You need to visit various areas here and see what catches your fancy. Competition is furious in Granada and San Juan del Sur. But some of the growing areas like Iguana are starting to open small restaurants.

Good luck!