Author: Len


Is it difficult to purchase real estate in Nicaragua?

Is it a difficult process to purchase real estate in Nicaragua?

Nicaragua IconThe simple answer to this often asked question is “No, it’s not a difficult process to purchase property in Nicaragua.” Foreign Investment Law 344 recognizes foreign investors’ rights to own property in Nicaragua and establish a business if they wish. Under Law 344 foreigners are permitted to own their property 100%, with equal rights to Nicaraguans.

Nicaragua offers incredible opportunities in real estate, from elegant colonial homes in Granada, the oldest European established city on the mainland of the Americas, to the beach front property the entire length of the Pacific coast.

Most of the real estate sold to foreigners are second homes sold to buyers from the USA and Canada. However, there are many North Americans and Europeans
relocating to Nicaragua to live permanently as retirees.

It is important to remember that real estate transactions and the supporting Nicaragua institutions are underdeveloped. Most purchases are cash transactions with the buyer and seller directly negotiating. There are real estate agents in Nicaragua, but legally they’re nothing more than middle men. The only person legally recognized to sell or lease a property is the registered owner. That said, it’s advisable to have a lawyer or individual knowledgeable in both Nicaragua laws and specific properties to consult with. I say this is because the titles of some properties have issues that can result in problems in transferring ownership.

Many properties in Nicaragua were confiscated illegally in the 1980s and ownership can or is being contested. Some properties were never properly registered in the first place, especially rural real estate. Thus determining who exactly is the rightful owner of a given property can be challenging. Even a comprehensive title search can fail to reveal ownership claims. Caveat Emptor, (Buyer Beware), is of tantamount importance when considering any real estate purchase in Nicaragua.

To be avoided completely if you are planning to purchase a property to build on are properties that have agrarian reform titles or supplemental titles issued by court order.

The Purchase Process

The process of purchasing a property starts with an offer being accepted by the buyer. A competent lawyer is needed to make sure there are no issues with the title or survey and, if there are, to resolve them BEFORE a formal promise of sale is agreed to. Once a promise of sale is created and agreed to, a NON-REFUNDABLE deposit of 5% to 20% is paid to the seller and a timetable for closing is set.

Once a purchase is completed, the process of registering a property takes approximately 65 days. The detailed steps to registering a property in Nicaragua are outlined here: The Steps Involved In Transferring Nicaragua Real Estate.

The transfer tax to be paid by the purchaser is incremental, meaning the more expensive the property, the great the percentage of the value is due as transfer
tax. The current tax schedule is…

  • Up to US$50,000 = 1% of the purchase price
  • US$50.000 – US$100,000 = 2% of the purchase price
  • US$00,000 – US$200,000 = 3% of the purchase price
  • Over US$200,000 = 4% of the purchase price

If you have any questions or wish to discuss the purchase or leasing of a property in Nicaragua, contact us.

Granada City Lacks Self Storage Facilities

A hot investment tip… which I have to admit isn’t my own. A client brought it to my attention that Granada, Nicaragua, lacks adequate self storage facilities. I did a quick check and sure enough, there is a single self storage facility in the entire city, and it is pretty much full all the time.

There is an abundance of storage yards for vehicles offering spaces that can be rented by the day, week or month, only one of which is indoors so totally secure. However, there appears to be only one self storage facility offering secure, individual storage units. I assume this is because the cost of open storage is minimal while to offer secure, individual storage units is more expensive. By more expensive, I’m thinking $2000 per unit using cinder block construction on a concrete pad, metal roof and a standard, overhead garage doors. This may not sound like a huge investment, but to build a dozen or more units, it would be well outside the affordability of many Nica land owners.

View of Granada city, Nicaragua

Self Storage facilities have never been something I’ve paid attention too as an investment or business opportunity. My involvement has been limited to offering commercially zoned land to storage companies, and as a customer. I have used self storage units in the past, and I know well that when you need one, you need one, period. Odd that I wouldn’t have seen them as the potential investment gold mine they are… in the right market. Granada city appears to be the right market.

Besides being cheap to construct, self storage units are also attractive because the land acquisition cost can be minimized. A high visibility location would be preferred, of course. But when you’re offering something people need, they will find you. Granada’s one existing self storage facility is not in a high traffic location, nor is it even visible from the street unless you’re parked right in front and looking directly at it. As long as a property has street access, and electricity and water available, it would be ideal for a self storage facility.

A self storage facility of 20 units would cost around US$40,000 to build. Surveying costs, architectural fees, building permits, land registration, taxes, etc. would add another $6000. Exact land transfer and legal costs would depend on the purchase price of the land.

Based on the existing storage facility, 20 self storage units within Granada or on the city’s outskirts would generate $9600 per year ($40 per month, per unit net after taxes). If land cost is capped at $50,000, and construction of 20 units is US$46,000 we’re talking about a gross annual return of 10%. Figure in maintenance, staffing and property taxes, it is reasonable to assume the net return will be at least 7%.

My client that enlightened me has two adjoining lots in a quickly gentrifying area of Granada city that would be perfect for self storage units. He is selling only the land, but he’d be willing to build a self storage facility on the property if a purchaser desired a turnkey operation.

As always, if you have any questions about land acquisitions or establishing a business in Nicaragua, contact us.

Super Rent To Own Deals

I have been working with the developer to provide a number of ocean front and ocean view lots at Playa Remanso Resort on a rent to own basis.

Important Update: The number of building lots available to be acquired through rent to own contracts has been greatly increased. For more information, contact Nica Investments.

Playa Remanso Resort is 4.8 kilometers from the center of San Juan del Sur, in the south of Nicaragua. There are already 44 lots sold, and a number of houses have already been constructed, most of which are inhabited by owners.

A view of Playa Remanso

A hotel resort building is already completed and has a dozen cabana style rooms available to rent. Fifty more cabana rooms are planned. A second hotel resort is planned as well, and is to be the cornerstone of a later phase of the development.

Playa Remanso Resort Rent To Own

Thirty-six lots of varying sizes have been set aside as rent to own properties. Tenant-Purchasers can choose to rent to own only the lot itself for a term of 5 to 10 years. At the end of the contract a buy out sum of zero dollars is possible. This option would be ideal for anyone wanting to purchase a building lot now while prices are low, then build at a later date.

Tenant-Purchasers can also choose to rent to own both the lot and a finished home. The terms and conditions of a lot and home, rent to own agreement would depend on a number of variables, such as lot size, construction cost, interest rate, and so on. Contact Nica Investments for more information.

Inquiries are welcome and we look forward to discussing both lot only and completed rent to own vacation of retirement homes.

Canadian and American Tenant-Purchasers will enter into a rent to own agreement with a Nicaraguan bank that has agreed to partner with Nica Investments and the developer of Playa Remanso Resort. All other nationals will be dealing directly with the developer, who is offering to finance rent to own contracts for Tenant-Purchasers from around the world.

Initial buy in costs are very affordable. The amount of the first month rent to own payment, as well as set up and legal fees are all that is required for qualified Tenant-Purchasers to take advantage of this amazing opportunity.

Act now, because 36 lots are not expected to last long when terms and conditions are so attractive!

Super Restaurant/Bar Opportunity

Sorry, this opportunity is no longer available.

This is the gist of an email I send out to someone interested in leasing restaurant/bar space at Hotel de Sonrisas, located at 401 Calle El Arsenal. That’s two blocks north of the Calle La Calzada, Granada’s nightlife area, and next door to San Francisco Convent & Museum. It’s also next door to my office… and as a disclosure, it’s my hotel as well. I had to evict the previous restaurant operation over a breach of contract issue.

Hotel de Sonrisas logoThe restaurant is licensed along with the hotel to sell food and beverages. The restaurant operator will need to apply for a liquor license in the operator’s own name, but can operate temporarily under the existing license.

The monthly rent for the space of approximately 65 s/m, plus use of common area hotel seating, plus a kitchen, plus a unisex bano, is US$250.

An additional US$100 will be paid monthly towards common electricity, water and WiFi. There is a separate booster/modem for the restaurant included in the hotel’s Claro (ISP) account.

Outside seating is available, but the renter must pay the applicable Alcadia (city hall) fee for the number of tables and chairs the restaurant operator wishes to have. The price at the moment is 50 Cordoba (US$1.80) per table, per month.

There are tables and chairs, a ceiling fan, lighting and some decoration included with the rent of the restaurant space. Any additional tables, chairs or decorations the operator requires are the responsibility of the renter.

A beverage cooler belonging to Coca Cola and made available to the hotel is in the restaurant. Currently nonalcoholic beverages are sold to hotel guests. The hotel will cease selling beverages to guests and ask Coca Cola to reassign the cooler to the restaurant operator. A beer cooler was also to be provided by the brewery but delivery was put on hold.

The kitchen is equipped with a stove and fridge. Both are relatively new and in good working order. Also included in the kitchen are various pots, pans, utensils and assorted kitchen items that would be included with the rent of the restaurant. Any other equipment, utensils, flatware, cutlery, pots or pans the restaurant operator may need are the responsibility of the operator.

Natural gas for the stove/oven is the responsibility of the operator.

The restaurant has both an entrance from the street and another from within the hotel for the convenience of guests. Both are gated and can be locked with a padlock to which only the restaurant operator need have a key. If the renter wishes to use the west side of the building for seating, which city hall has given verbal permissions to do, there is a gated doorway to accommodate serving customers seated outside.

There is a unisex bano for use by restaurant guests and staff. The cleaning, supplying of soap, paper towels and toilet paper, maintenance and repairs needed for this bano are the responsibility of the restaurant operator.

Any renovations or modifications to the restaurant space, bathroom or kitchen are the responsibility of the tenant. However, before any renovations or modifications are undertaken the hotel must be informed of what is to occur. This is to make sure there will be no issues with the fire department or INTUR (the agency responsible for tourism, or that the work is not going to require a building permit. If a building permit is required securing one is the responsibility of the restaurant operator. This restriction does not include painting of walls, changing of light fixtures or other cosmetic changes.

A US$150 damage deposit is required from the renter. This amount will be returned provided none of the supplied furnishings, kitchen appliances or bano fixtures are damaged or are missing at the time the lease period ends.

The Alcadia currently permits the restaurant to have a single sign over the south facing entrance, on Calle El Arsenal. Signage is the responsibility of the tenant. It is possible to add a second sign to the west side of the building. It would be the responsibility of the restaurant operator to apply to the Alcadia for the second sign and to pay any applicable fees.

That’s it. Pretty simple and cheap. This is because I want food and beverage service in the hotel as a convenience for guests. Also, properly promoted a bar and restaurant will attract attention to the hotel, and as a full service hotel allows me to maintain higher room rate than a B&B. Currently the hotel is categorized as a B&B because we serve only breakfast and there are no facilities for guests to purchase lunch or dinner. The hotel would stop making breakfasts for guests and purchase them from the restaurant.

If you’re interested in operating a restaurant/bar in Granada, Nicaragua and want to get up an running with minimal investment, this is the opportunity you’re looking for. Contact me and I will send photos.

Nicaragua Postal Codes

The post in Nicaragua moves in mysterious ways so it’s not used much. However, for anyone wanting to give it a try, here are the most widely used postal codes…

Department Municipality Postal code Neighbourhood
Managua Managua 10000 Master code
Managua Managua 11001 Centro Histórico Cultural
Managua Managua 11002 Rubén Darío – Candelaria
Managua Managua 11002 Candelaria
Managua Managua 11003 Los Pescadores
Managua Managua 11003 Carlos Reina
Managua Managua 11004 Quinta Nina
Managua Managua 11004 Benedicto Valverde
Managua Managua 11005 San Luis Norte
Managua Managua 11005 Hilario Sánchez 1
Managua Managua 11006 Barricada
Managua Managua 11006 Hilario Sánchez 2
Managua Managua 11007 Las Torres
Managua Managua 11008 Villa Pedro Joaquín Chamorro
Managua Managua 11009 Riguero Norte
Managua Managua 11011 Domitila Lugo
Managua Managua 11012 Jardines De Santa Clara
Managua Managua 11013 Shelim Shible
Managua Managua 11014 Santa Lucia
Managua Managua 11015 Sector Oeste Portezuelo
Managua Managua 11016 Portezuelo Parque Industrial
Managua Managua 11017 Sector Este Portezuelo
Managua Managua 11018 La Primavera
Managua Managua 11019 Anexo La Primavera
Managua Managua 11021 Vallarta
Managua Managua 11022 Sector Este Vallarta
Managua Managua 11023 Sector Este La Primavera
Managua Managua 11024 Jose Dolores Estrada
Managua Managua 11025 Sector Corte Suprema De Justicia
Managua Managua 11026 Jorge Cassaly
Managua Managua 11027 Waspán Norte
Managua Managua 11028 Sector Norte De Waspán Norte
Managua Managua 11029 Santa Maria De Las Victorias
Managua Managua 11031 Hugo Chávez
Managua Managua 11032 Camilo Chamorro
Managua Managua 11033 Sector Noreste Camilo Chamorro
Managua Managua 11034 Oscar Lino Paz Cubas
Managua Managua 11035 Bertha Díaz
Managua Managua 11036 Sector Oeste Américas 2
Managua Managua 11037 B15
Managua Managua 11037 Carlos Núñez
Managua Managua 11037 Anexo Américas 2
Managua Managua 11038 Jose Benito Escobar
Managua Managua 11038 Américas 2
Managua Managua 11039 Las Mercedes
Managua Managua 11041 Anexo 1 Unidad De Propósito
Managua Managua 11042 Unidad De Propósito
Managua Managua 11043 German Pomares Américas 2
Managua Managua 11044 Anexo 2 Unidad De Propósito
Managua Managua 11045 Colinas De Verona
Managua Managua 11046 Las Delicias
Managua Managua 11047 Sector Este América 2
Managua Managua 11048 Casa Real Etapa 1
Managua Managua 11049 Casa Real Etapa 2
Managua Managua 11051 Casa Real Etapa 3
Managua Managua 11052 Sector Hotel Camino Real
Managua Managua 11053 Sector Sur Montecristi
Managua Managua 11054 Escuela Quemada
Managua Managua 11055 Montecristi
Managua Managua 11056 Sector Norte Montecristi
Managua Managua 11057 Sector Norte Aeropuerto Internacional De Managua
Managua Managua 11058 15 De Mayo Una
Managua Managua 11059 Sector Hotel Las Mercedes
Managua Managua 11061 El Rodeito
Managua Managua 11062 El Rodeo
Managua Managua 11063 Sector Rio Santa Elena
Managua Managua 11064 Santa Elena
Managua Managua 11065 Monte Fresco
Managua Managua 11066 Sector Rio Borbollón
Managua Managua 11067 Sector Rio Lodoso
Managua Managua 11068 Sector Este Zona Franca Industrial
Managua Managua 11069 Alexis Arguello
Managua Managua 11071 Sector Zona Franca Industrial
Managua Managua 11072 Sector Aeropuerto Internacional De Managua
Managua Managua 11073 Sector La Subasta
Managua Managua 11074 Jorge Salazar
Managua Managua 11075 Reparto Segovia
Managua Managua 11076 Sector Mercado Mayoreo
Managua Managua 11076 Concepción De Maria
Managua Managua 11077 Canadá Sureste
Managua Managua 11078 Palestina
Managua Managua 11079 Villa Israel
Managua Managua 11081 Villa Reconciliación
Managua Managua 11082 Sector La Kativo
Managua Managua 11083 Sector Este Waspán Sur
Managua Managua 11084 Waspan Sur
Managua Managua 11085 Anexo Waspán Sur
Managua Managua 11086 Villa Miguel Gutiérrez
Managua Managua 11087 Oswaldo Manzanares
Managua Managua 11088 Mombacho
Managua Managua 11089 Sector Norte Ciudad Industrial Xolotlán
Managua Managua 11091 Ciudad Xolotlán
Managua Managua 11092 Carlos Marx
Managua Managua 11093 Pedro Arauz Palacios
Managua Managua 11094 Nuevo Horizonte
Managua Managua 11095 Santa Rosa
Managua Managua 11096 Costa Rica
Managua Managua 11097 San Luis Sur
Managua Managua 11098 Leonel Rugama
Managua Managua 11099 Los Angeles
Managua Managua 11101 Sector Mercado Oriental
Managua Managua 11102 Santo Domingo
Managua Managua 11103 Sector Sur Centro Histórico
Managua Managua 11104 Sector Gobierno
Managua Managua 11105 Blas Real Espinales
Managua Managua 11106 Sajonia
Managua Managua 11107 Buenos Aires
Managua Managua 11107 19 De Julio
Managua Managua 11108 Ciudad Jardín
Managua Managua 11109 Romin Manrique
Managua Managua 11111 Tenderí
Managua Managua 11112 El Paraisito
Managua Managua 11113 Larreynaga
Managua Managua 11114 Colonia Edgard Lang
Managua Managua 11115 Hogar Propio
Managua Managua 11116 Francisco Meza Rojas
Managua Managua 11117 Largaespada
Managua Managua 11118 Loma De Tiscapa
Managua Managua 11119 Colonia Oscar Perez Cassar
Managua Managua 11121 Sector Laguna De Tiscapa
Managua Managua 11122 Sector Sur Laguna Tiscapa
Managua Managua 11123 La Florida
Managua Managua 11124 Villa Tiscapa
Managua Managua 11125 Sector La Piñata
Managua Managua 11126 Sector Oeste Avenida Universitaria
Managua Managua 11127 Sector Noroeste Rotonda Rubén Darío
Managua Managua 11128 Reparto Walter Ferretí
Managua Managua 11129 Sector Catedral Metropolitana
Managua Managua 11131 Reparto Serrano
Managua Managua 11132 Jorge Dimitrov
Managua Managua 11133 Enrique Schmitd Rotonda de Cristo
Managua Managua 11134 Oscar Turcios Rotonda de Cristo
Managua Managua 11135 Colonia Managua
Managua Managua 11136 Campo Bruce
Managua Managua 11137 San Jose Oriental
Managua Managua 11138 San Cristóbal
Managua Managua 11139 Maria Auxiliadora
Managua Managua 11141 El Edén
Managua Managua 11142 Cristian Perez
Managua Managua 11142 Salvadorita
Managua Managua 11143 Maestro Gabriel
Managua Managua 11144 Bello Horizonte Etapa 1
Managua Managua 11145 Bello Horizonte Etapa 2
Managua Managua 11146 Bello Horizonte Etapa 3
Managua Managua 11147 Bello Horizonte Etapa 4
Managua Managua 11148 Bello Horizonte Etapa 5
Managua Managua 11149 Bello Horizonte Etapa 6
Managua Managua 11151 Nueva Libia
Managua Managua 11152 Villa Progreso
Managua Managua 11153 Villa Rubén Darío
Managua Managua 11154 Rafaela Herrera
Managua Managua 11155 Mártires De Ayapal
Managua Managua 11156 Villa San Jacinto
Managua Managua 11157 Laureano Mairena
Managua Managua 11158 Villa Fraternidad
Managua Managua 11159 Anexo Villa Fraternidad
Managua Managua 11161 Villa Japón
Managua Managua 11162 9 De Junio
Managua Managua 11163 Anexo Georgino Andrade
Managua Managua 11164 Georgino Andrade
Managua Managua 11165 Barrio Primero De Mayo
Managua Managua 11166 Barrio Venezuela
Managua Managua 11167 Ducuali
Managua Managua 11168 Paula Corea
Managua Managua 11169 El Dorado
Managua Managua 11171 10 De Junio
Managua Managua 11172 Reparto Colombia
Managua Managua 11173 Don Bosco
Managua Managua 11174 Santa Margarita
Managua Managua 11175 Santa Julia
Managua Managua 11176 Farabundo Martí
Managua Managua 11177 Francisco Aguilar
Managua Managua 11178 Habana 2 Maria
Managua Managua 11179 Colonia Nicarao
Managua Managua 11181 Carlos Aguirre
Managua Managua 11182 Unión Soviética
Managua Managua 11183 Rubenia
Managua Managua 11184 Villa Austria
Managua Managua 11185 Américas 1
Managua Managua 11186 Villa Bulgaria
Managua Managua 11187 Mercado Ivan Montenegro
Managua Managua 11187 8 De Marzo
Managua Managua 11188 Villa Revolución
Managua Managua 11188 Américas 3
Managua Managua 11189 10 De Enero
Managua Managua 11191 Reparto Lopez
Managua Managua 11192 Jericob
Managua Managua 11193 Villa Feliz
Managua Managua 11194 Sector Sur Villa Reconciliación
Managua Managua 11195 19 De Febrero
Managua Managua 11196 Betancur
Managua Managua 11197 Sector Norte Laureles Norte
Managua Managua 11198 Laureles Norte
Managua Managua 11199 Sector Sur 1 Mercado Mayoreo
Managua Managua 11201 Reparto Simón Bolívar
Managua Managua 11202 Sector Sur 2 Mercado Mayoreo
Managua Managua 11203 Planes Del Doral
Managua Managua 11204 Praderas Del Doral
Managua Managua 11205 Gertrudis Áreas
Managua Managua 11206 31 De Diciembre
Managua Managua 11207 Sector Norte Laureles Sur
Managua Managua 11208 Cortijo De La Sabana
Managua Managua 11209 La Curva Sabana Grande
Managua Managua 11211 Villa Dignidad
Managua Managua 11212 La Maravilla
Managua Managua 11212 Sector Norte Sabana Grande
Managua Managua 11213 Sector Este Sabana Grande
Managua Managua 11214 Sector Norte Comarca San Cristóbal
Managua Managua 11215 Sector Noreste Comarca San Cristóbal
Managua Managua 12001 San Sebastián
Managua Managua 12002 Manchester
Managua Managua 12003 Cristo Del Rosario
Managua Managua 12004 Julio Buitrago
Managua Managua 12005 Santa Ana Sur
Managua Managua 12006 Santa Ana Norte
Managua Managua 12007 Acahualinca
Managua Managua 12008 Alemania Democrática
Managua Managua 12009 Barrio Cuba
Managua Managua 12011 Rubén Darío
Managua Managua 12012 Francisco Morazán
Managua Managua 12013 Rafael Ríos
Managua Managua 12014 Sector Norte Linda Vista
Managua Managua 12015 Sector Occidental Lago De Managua
Managua Managua 12016 La Chureca
Managua Managua 12017 Virgen De Guadalupe
Managua Managua 12018 Sector Norte Las Brisas
Managua Managua 12019 Linda Vista Norte
Managua Managua 12021 Las Brisas
Managua Managua 12022 Carlos Núñez Los Martinez
Managua Managua 12023 Valle Dorado
Managua Managua 12024 Sector Cerro Los Martinez
Managua Managua 12025 Sector Cuesta Del Plomo
Managua Managua 12026 Sector Industrial La Refinería
Managua Managua 12027 Ulsa
Managua Managua 12028 Sector Paseo Las Brisa
Managua Managua 12029 Los Arcos
Managua Managua 12031 Linda Vista Sur
Managua Managua 12032 Loma Verde
Managua Managua 12033 El Seminario
Managua Managua 12034 El Cortijo
Managua Managua 12035 Dignidad 4 De Mayo
Managua Managua 12036 Monseñor Lezcano Oeste
Managua Managua 12037 Monseñor Lezcano Este
Managua Managua 12038 Javier Cuadra
Managua Managua 12039 La Reforma
Managua Managua 12041 San Jose
Managua Managua 12042 San Antonio
Managua Managua 12043 San Pedro
Managua Managua 12044 El Bóer
Managua Managua 12045 Che Guevara
Managua Managua 12046 Martha Quezada
Managua Managua 12047 William Diaz
Managua Managua 12048 El Carmen
Managua Managua 12049 Colonia Mantica
Managua Managua 12049 Callejón Zelaya
Managua Managua 12051 Las Palmas
Managua Managua 12052 Manuel Olivares
Managua Managua 12053 Reparto España
Managua Managua 12054 Miraflores 1
Managua Managua 12055 Miraflores 2
Managua Managua 12056 Juan Emilio Menocal
Managua Managua 12057 Sector El Seminario
Managua Managua 12058 Sector Laguna De Asososca
Managua Managua 12059 Sector Este Laguna De Asososca
Managua Managua 12061 Dinamarca
Managua Managua 12062 Batahola Norte
Managua Managua 12063 Jardines De Managua
Managua Managua 12064 Edgard Lang
Managua Managua 12065 Altagracia Norte
Managua Managua 12066 Bolonia
Managua Managua 12067 San Martin
Managua Managua 12068 25 Aniversario
Managua Managua 12069 San Ignacio Waslala
Managua Managua 12071 Embusa 1 Y 2
Managua Managua 12072 Anexo Batahola Sur
Managua Managua 12073 Batahola Sur
Managua Managua 12074 Llamas Del Bosque
Managua Managua 12075 Los Madroños
Managua Managua 12076 Daniel Chavarría
Managua Managua 12077 Nora Astorga
Managua Managua 12078 Santa Ana Nicalit
Managua Managua 12079 Altagracia Sur
Managua Managua 12081 Bertha Calderon
Managua Managua 12082 Recreo Norte
Managua Managua 12083 Bosques De Bolonia
Managua Managua 12084 Sector Plaza España
Managua Managua 12085 Plaza España Costado Sur
Managua Managua 12086 Sector El Retiro
Managua Managua 12087 Jonathan Gonzalez
Managua Managua 12088 Villa Argentina
Managua Managua 12089 Golfo Pérsico
Managua Managua 12091 Sector Enel Central
Managua Managua 12092 Enrique Bermudez 380
Managua Managua 12093 Carlos Núñez 380
Managua Managua 12094 Sector Oeste Avenida Naciones Unidas
Managua Managua 12095 Rene Cisneros
Managua Managua 12096 Recreo Sur
Managua Managua 12097 Andrés Castro
Managua Managua 12098 Centro Cívico
Managua Managua 12099 Sector Mercado Israel Lewites
Managua Managua 12101 Sector Pali Zumen
Managua Managua 12102 Sector Centro Comercial Nejapa
Managua Managua 12103 Enrique Schmidt Nejapa
Managua Managua 12104 Belmonte
Managua Managua 12105 David Tejada
Managua Managua 12106 Sector Cerro Tabuya
Managua Managua 12107 Sector Parque Las Piedrecitas
Managua Managua 12108 Motastepe
Managua Managua 12109 Mirna Ugarte
Managua Managua 12111 Las Piedrecitas
Managua Managua 12112 Héroes Y Mártires De Ayapal
Managua Managua 13001 Casimiro Sotelo
Managua Managua 13002 Hialeah 1 Y 2
Managua Managua 13002 Sector Instituto Salomón De La Selva
Managua Managua 13004 Sector Holiday Inn
Managua Managua 13005 Sector Ofiplaza
Managua Managua 13006 Colonia Del Periodista
Managua Managua 13007 La Esperanza
Managua Managua 13008 El Pilar
Managua Managua 13009 Sector Hospital Bertha Calderón
Managua Managua 13011 Héroes Y Mártires Del Bocay
Managua Managua 13011 Colonia Independencia
Managua Managua 13012 Tierra Prometida
Managua Managua 13013 Sector Banco Central
Managua Managua 13014 Frawley
Managua Managua 13015 Reisel
Managua Managua 13016 Sector Laguna De Nejapa
Managua Managua 13017 Sector Este Laguna De Nejapa
Managua Managua 13018 Sector Noroeste Pista Suburbana
Managua Managua 13019 Lomas De San Judas
Managua Managua 13021 Herlinda López
Managua Managua 13022 Luis Alfonso Velásquez 1
Managua Managua 13023 Luis Alfonso Velásquez 2
Managua Managua 13024 San Judas
Managua Managua 13025 Los Martínez San Judas
Managua Managua 13026 Sector Este San Judas
Managua Managua 13027 San Pedro San Judas
Managua Managua 13028 Vista Hermosa
Managua Managua 13029 Martin Luter King
Managua Managua 13031 Paseo Del Valle
Managua Managua 13032 San Francisco De Asís
Managua Managua 13033 Memorial Sandino
Managua Managua 13034 Bosques De Nejapa
Managua Managua 13035 Sector Suroeste Colonia El Periodista
Managua Managua 13036 Altos De Nejapa
Managua Managua 13037 Hialeah 3
Managua Managua 13038 Hialeah 4
Managua Managua 13039 Sector Oeste Lomas De San Ángel
Managua Managua 13041 Villa San Ángel
Managua Managua 13042 Lomas De San Ángel
Managua Managua 13043 Lomas De Monserrat
Managua Managua 13044 Catalina
Managua Managua 13045 Acrópolis
Managua Managua 13046 Sector Noroeste Rotonda Universitaria
Managua Managua 13047 Lomas Del Consuelo
Managua Managua 13048 Sector Colegio Americano
Managua Managua 13049 Sector Suroeste Rotonda Universitaria
Managua Managua 13051 Colonia Miguel Bonilla
Managua Managua 13052 Sector Mokorón
Managua Managua 13053 Sector Norte Comarca Los Ladinos
Managua Managua 13054 Sector Sur Memorial Sandino
Managua Managua 13055 Marvin Marín
Managua Managua 13056 Villa Roma
Managua Managua 13057 Omar Torrijos – Loma Linda
Managua Managua 13058 Lomas De Buenos Aires
Managua Managua 13059 Sector Suroeste Pista Suburbana
Managua Managua 13061 San Patricio
Managua Managua 13062 Kilocho
Managua Managua 13063 Germán Pomares -Ticomo
Managua Managua 13064 Arges Sequeira
Managua Managua 13065 Sector Noreste Valle De Ticomo
Managua Managua 13066 Villa Nueva
Managua Managua 13067 Lomas Del Sur
Managua Managua 13068 Buena Vista
Managua Managua 13069 Bertilda Olegaria
Managua Managua 13071 La Zacatera
Managua Managua 13072 Los Laureles- Camilo Ortega
Managua Managua 13073 Sector Sureste Valle Ticomo
Managua Managua 13074 William Galeano
Managua Managua 13075 Camilo Ortega
Managua Managua 13075 Torres Molina
Managua Managua 13076 Anexo Camilo Ortega
Managua Managua 13077 Sector Sur Loma Linda
Managua Managua 13078 Loma Linda
Managua Managua 13078 Sierra Maestra
Managua Managua 13079 Anexo Villa Roma
Managua Managua 13081 Sector Noreste Comarca Pochocuape
Managua Managua 13082 Sector Noroeste Comarca San Isidro Libertador
Managua Managua 13083 Sector Norte Comarca San Isidro Libertador
Managua Managua 13084 Sector Sur Comarca Los Ladinos
Managua Managua 13085 El Progreso
Managua Managua 13086 Sector Norte Comarca Las Viudas
Managua Managua 13087 Sector Sur Comarca Las Viudas
Managua Managua 13088 Sector Sur Comarca San Isidro Libertador
Managua Managua 13089 Sector Sur Comarca Pochocuape
Managua Managua 13091 Sector Sur Comarca Ticomo
Managua Managua 13092 Sector Sur Valle Ticomo
Managua Managua 13093 Sector Valle De Ticomo
Managua Managua 13094 Sector Sur Laguna Nejapa
Managua Managua 13095 Nejapa
Managua Managua 13096 Sector Norte Comarca Nejapa
Managua Managua 13097 German Pomares- Nejapa
Managua Managua 13098 Delagneau
Managua Managua 13099 Villa Galicia
Managua Managua 13101 Sector Noroeste Altos De Ticomo
Managua Managua 13102 Sector Sur Comarca Nejapa
Managua Managua 13103 Bosques De Miraflores
Managua Managua 13104 Sector Oeste Comarca Nejapa
Managua Managua 13105 Sector Norte Cedro Galán
Managua Managua 13106 Sector Central Comarca Cedro Galán
Managua Managua 13107 Sector Norte Comarca Chiquilistagua
Managua Managua 13108 Lomas De Maromo
Managua Managua 13109 Sector Central Comarca Chiquilistagua
Managua Managua 13111 Vista Esmeralda
Managua Managua 13112 Sector Oeste Comarca Chiquilistagua
Managua Managua 13113 Casa Blanca
Managua Managua 13114 Monte Verde
Managua Managua 13115 Planetarium
Managua Managua 13116 Sector Este Comarca Chiquilistagua
Managua Managua 13117 Sector Suroeste Comarca Cedro Galán
Managua Managua 13118 Sector Sur Comarca Cedro Galán
Managua Managua 13119 Sector Noroeste Comarca San Jose De La Cañada
Managua Managua 13121 Altos De Ticomo
Managua Managua 13122 Lomas De Ticomo
Managua Managua 13123 Santa Anita
Managua Managua 13124 Santa Anita 2
Managua Managua 13125 Marcell Pallais
Managua Managua 13125 Santa Isabel
Managua Managua 13126 Sector Suroeste Santa Anita
Managua Managua 13127 San Sebastián Sur
Managua Managua 13128 Sector Este Comarca San Jose De La Cañada
Managua Managua 13129 Sector Sureste Santa Isabel
Managua Managua 13131 El Sosiego
Managua Managua 13132 Samarkanda
Managua Managua 13133 Villa Jacinto
Managua Managua 13134 Sector Oeste Monte Tabor
Managua Managua 13135 Serranías
Managua Managua 13135 Las Carolinas
Managua Managua 13136 Los Cocos
Managua Managua 13137 Urbanización Ticomo Sur
Managua Managua 13138 Sector Este Comarca Monte Tabor
Managua Managua 13139 Las Jinotepes
Managua Managua 13141 El Pedernal
Managua Managua 13142 El Rosal
Managua Managua 13143 Hilario Sánchez Sur
Managua Managua 13144 Sector Sureste Comarca San Jose La Cañada
Managua Managua 13145 La Veranera
Managua Managua 13146 Sector Suroeste Comarca San Jose La Cañada
Managua Managua 14001 Edgard Munguía
Managua Managua 14002 Reparto San Juan
Managua Managua 14003 Reparto Lomas De Guadalupe
Managua Managua 14004 Reparto Tiscapa
Managua Managua 14005 Sector Metrocentro
Managua Managua 14006 Colonial Los Robles 3
Managua Managua 14007 Colonial Los Robles 5
Managua Managua 14008 Colonial Los Robles 7
Managua Managua 14009 Colonial Los Robles 8
Managua Managua 14011 Pedro Joaquín Chamorro
Managua Managua 14012 La Luz
Managua Managua 14012 14 De Junio
Managua Managua 14013 Habana 1 – Rotonda De Cristo
Managua Managua 14014 Riguero
Managua Managua 14015 Aldo Chavarría
Managua Managua 14016 Máximo Jeréz
Managua Managua 14017 Barrio México
Managua Managua 14018 Revolución
Managua Managua 14019 Liberia
Managua Managua 14021 Carlos Fonseca
Managua Managua 14022 Sector Mercado Roberto Huembes
Managua Managua 14023 Isaías Gómez
Managua Managua 14024 Sector Hospital Manolo Morales
Managua Managua 14025 Santos López
Managua Managua 14026 Bosques De Altamira
Managua Managua 14027 Altamira Este
Managua Managua 14028 Colonial Los Robles 6
Managua Managua 14029 Colonial Los Robles 2
Managua Managua 14031 Planes De Altamira 2
Managua Managua 14032 Colonial Los Robles 4
Managua Managua 14033 Colonial Los Robles 1
Managua Managua 14034 Planes De Altamira 1
Managua Managua 14035 Reparto Los Robles
Managua Managua 14036 Anexo Reparto San Juan
Managua Managua 14037 Lomas De San Juan
Managua Managua 14038 Villa Santa Fe
Managua Managua 14039 Sector Sur San Juan
Managua Managua 14041 Sector Sureste San Juan
Managua Managua 14042 Planes De Altamira 3
Managua Managua 14043 Sector Este Planes De Altamira 3
Managua Managua 14044 Las Flores
Managua Managua 14045 Bell Air
Managua Managua 14046 Sector Noroeste Paso Desnivel Centroamérica
Managua Managua 14047 La Morita
Managua Managua 14048 Colonia Centroamérica
Managua Managua 14049 Sector Centro Comercial Managua
Managua Managua 14051 Pantasma
Managua Managua 14052 Grenada
Managua Managua 14053 Ariel Darce
Managua Managua 14053 La Fuente
Managua Managua 14054 Reparto Cuadra
Managua Managua 14055 Nicarao Sector Sur
Managua Managua 14056 Edmundo Matamoros
Managua Managua 14056 Santa Bárbara
Managua Managua 14057 14 De Septiembre
Managua Managua 14058 Omar Torrijos
Managua Managua 14058 Santa Emilia
Managua Managua 14059 Jardines De Veracruz
Managua Managua 14061 Anexo Jardines De Veracruz
Managua Managua 14062 Sector Conchita Palacios
Managua Managua 14063 Leningrado
Managua Managua 14064 Colonia Primero De Mayo
Managua Managua 14065 Anexo Colonia Primero De Mayo
Managua Managua 14066 Villa Valencia
Managua Managua 14067 Villa Flor Norte
Managua Managua 14068 Las Alemanias
Managua Managua 14069 Bosque Norte Y Sur
Managua Managua 14071 Américas 4
Managua Managua 14071 Villa Venezuela
Managua Managua 14072 Villa La Sabana
Managua Managua 14073 Sector Este Villa Venezuela
Managua Managua 14074 Arlen Siu
Managua Managua 14075 Mirador La Sabana
Managua Managua 14076 Manuel Fernández
Managua Managua 14076 Laureles Sur
Managua Managua 14077 Arnoldo Alemán
Managua Managua 14078 Maria Dolores Alemán
Managua Managua 14079 Vittoria
Managua Managua 14081 Sector Este Laureles Sur
Managua Managua 14082 Altos De La Sabana
Managua Managua 14083 Los Cocos Sabana Grande
Managua Managua 14084 4 De Noviembre
Managua Managua 14085 Sabana Grande
Managua Managua 14086 Ríos De Agua Viva
Managua Managua 14087 Sector Sur Sabana Grande
Managua Managua 14088 Sector Sur Comarca San Cristóbal
Managua Managua 14089 Sector Este 2 Comarca Sabana Grande Sur
Managua Managua 14091 Villa Sol
Managua Managua 14092 Sabanas
Managua Managua 14093 Sector Este 1 Comarca Sabana Grande Sur
Managua Managua 14094 Sector Oeste Comarca Sabana Grande Sur
Managua Managua 14095 Israel Galeano
Managua Managua 14096 Nueva Sabana
Managua Managua 14097 Comandante Aureleano
Managua Managua 14098 Camino Del Río
Managua Managua 14099 Los Ingenieros
Managua Managua 14099 Sector Sur Lomas De Guadalupe
Managua Managua 14099 Los Corteses
Managua Managua 14101 Lomas De Guadalupe
Managua Managua 14102 Villa Libertad
Managua Managua 14103 Anexo Villa Libertad
Managua Managua 14104 Sol De Libertad
Managua Managua 14105 Nueva Nicaragua
Managua Managua 14106 Divino Niño
Managua Managua 14107 Ciudad San Sebastián
Managua Managua 14108 Sector Sur Anexo Villa Libertad
Managua Managua 14109 Milagro De Dios
Managua Managua 14111 Anexo Villa Venezuela
Managua Managua 14112 Vista Al Xolotlán
Managua Managua 14113 Carlos Núñez Américas 4
Managua Managua 14114 Villa Canadá
Managua Managua 14115 Manolo Morales
Managua Managua 14116 25 De Febrero
Managua Managua 14117 Villa Flor Sur
Managua Managua 14118 Enrique Schmidt Villa Flor
Managua Managua 14119 11 De Mayo
Managua Managua 14121 13 De Mayo
Managua Managua 14122 18 De Agosto
Managua Managua 14123 Ciudadela Nicaragua
Managua Managua 14124 28 De Mayo
Managua Managua 14125 Eddy Mayorga
Managua Managua 14126 Eduardo Contreras
Managua Managua 14127 30 De Mayo
Managua Managua 14127 Sector Milagro De Dios
Managua Managua 14128 Alfredo Nobel
Managua Managua 14128 Che Guevara
Managua Managua 14129 Salomón Moreno
Managua Managua 14131 Enrique Lorente
Managua Managua 14131 Reparto Shick 3
Managua Managua 14132 Bariloche
Managua Managua 14132 Blanca Segovia
Managua Managua 14133 Blanca Arauz
Managua Managua 14133 Amanda Aguilar
Managua Managua 14134 Sócrates Sandino
Managua Managua 14135 Reparto Shick 4
Managua Managua 14135 Enrique Gutiérrez
Managua Managua 14136 Ángel Valentín Barrios
Managua Managua 14136 Reparto Shick 2
Managua Managua 14137 Rene Polanco
Managua Managua 14138 Germán Pomares
Managua Managua 14139 Proyecto Piloto
Managua Managua 14141 Pablo Úbeda
Managua Managua 14142 Macaraly
Managua Managua 14142 Reparto Shick 1
Managua Managua 14143 Francisco Salazar
Managua Managua 14144 Finlandia Rubén Darío Las Colinas
Managua Managua 14145 Augusto Cesar Sandino
Managua Managua 14146 12 De Octubre
Managua Managua 14147 San Lucas
Managua Managua 14148 Anexo 18 De Mayo
Managua Managua 14149 18 De Mayo
Managua Managua 14151 Walter Ferreti
Managua Managua 14152 Isabel Urbina
Managua Managua 14152 Adolfo Reyes
Managua Managua 14153 Sector Hogar Zacarías Guerra
Managua Managua 14154 Lomas Del Valle
Managua Managua 14155 Piquín Guerrero
Managua Managua 14155 Las Lomitas Centroamérica
Managua Managua 14156 22 De Enero
Managua Managua 14157 Sector Camino De Oriente
Managua Managua 14158 Sector Noroeste Rotonda Jean Paul Genie
Managua Managua 14159 Planes De Puntaldía
Managua Managua 14161 Villas Italianas
Managua Managua 14162 Mirasol
Managua Managua 14163 Madroños Villa Fontana
Managua Managua 14164 Inmaculada Villa Fontana
Managua Managua 14165 Villa Fontana Este
Managua Managua 14166 Sector Suroeste Camino De Oriente
Managua Managua 14167 Sector Radio Nicaragua
Managua Managua 14168 Sector La Salle
Managua Managua 14169 Condominio Roma
Managua Managua 14171 Casa Fontana
Managua Managua 14172 Sector Unan Managua
Managua Managua 14173 Villa Fontana Norte
Managua Managua 14174 Villa Fontana Sur
Managua Managua 14175 Las Veraneras
Managua Managua 14176 Sector Comarca Jocote Dulce
Managua Managua 14177 Sector Colegio Centroamérica
Managua Managua 14178 Bosques Del Recreo
Managua Managua 14179 Sector Sur Club Terraza
Managua Managua 14181 Bosques Del Terraza
Managua Managua 14182 Las Cumbres
Managua Managua 14183 Mirador Las Cumbres
Managua Managua 14184 Altos De Las Cumbres
Managua Managua 14185 Portal Del Carmen
Managua Managua 14186 La Rioja
Managua Managua 14187 Sector Sur Pista Jean Paul Genie
Managua Managua 14188 Santa Mónica Cruz Del Paraíso
Managua Managua 14189 Sector Norte Cruz Del Paraíso
Managua Managua 14191 Sector Sur Rotonda Jean Paul Genie
Managua Managua 14192 Magnolia
Managua Managua 14193 Sector Noroeste Las Colinas
Managua Managua 14194 Sector Norte Las Colinas
Managua Managua 14195 Goenz
Managua Managua 14196 Sector Hotel Las Colinas
Managua Managua 14197 Paseo Las Colinas
Managua Managua 14198 Cumbres De Las Colinas
Managua Managua 14199 Las Colinas
Managua Managua 14201 Cedros De Las Colinas
Managua Managua 14202 Lomas De Las Colinas
Managua Managua 14203 Sector Noreste Las Colinas
Managua Managua 14204 Naciones Unidas
Managua Managua 14205 Villa Cuba Libre
Managua Managua 14206 Sector Oeste Colinas De Santa Cruz
Managua Managua 14207 Flor De Las Colinas
Managua Managua 14208 Villa Loreto
Managua Managua 14209 Colinas De Santa Cruz
Managua Managua 14211 Sector Norte Colinas De Santa Cruz
Managua Managua 14212 Sector Norte Las Jaguitas
Managua Managua 14213 Sector Oeste Comarca Las Enramadas
Managua Managua 14214 Cuatro Esquinas De Las Enramadas
Managua Managua 14215 Sector Este Comarca Las Enramadas
Managua Managua 14216 Sector Sureste Comarca Las Enramadas
Managua Managua 14217 Mayales
Managua Managua 14218 Sector Sur Comarca Las Enramadas
Managua Managua 14219 Sector Norte Comarca Esquipulas
Managua Managua 14221 Sector Este Las Cuarezma
Managua Managua 14222 Sector Sur Comarca Las Jaguitas
Managua Managua 14223 Sector Este Las Colinas
Managua Managua 14224 Villa Florencia
Managua Managua 14225 Colinas Sur
Managua Managua 14226 Frascati
Managua Managua 14227 Terracota 1 Y 2
Managua Managua 14228 Estefanía
Managua Managua 14229 Acoma
Managua Managua 14231 Las Cuarezmas
Managua Managua 14232 San Pablo
Managua Managua 14233 Jardines De Las Colinas
Managua Managua 14234 El Boquete Sector Norte Santo Domingo
Managua Managua 14235 Mirador Sur Santo Domingo
Managua Managua 14236 Mirador Norte Santo Domingo
Managua Managua 14237 Lomas De Notredame
Managua Managua 14238 Sector Norte El Mirador
Managua Managua 14239 Castellana
Managua Managua 14241 Alamedas Km 8 Carretera Masaya
Managua Managua 14242 Las Lomas Camino Viejo
Managua Managua 14243 Villa Bellini
Managua Managua 14244 Sector Sur Cruz Del Paraíso
Managua Managua 14245 Los Membreños
Managua Managua 14246 Sector Norte San Isidro De La Cruz Verde
Managua Managua 14247 Combatiente Desconocido
Managua Managua 14248 Urbanización Gloria
Managua Managua 14249 Sector Norte Jocote Dulce
Managua Managua 14251 Vincent Poujardeu
Managua Managua 14252 Miralagos
Managua Managua 14253 Sector Sur Jocote Dulce
Managua Managua 14254 Sector Oeste San Isidro De La Cruz Verde
Managua Managua 14255 Sector San Isidro De La Cruz Verde
Managua Managua 14256 Los Andes
Managua Managua 14257 Jacarandas
Managua Managua 14258 La Quinta
Managua Managua 14259 Altos De Santo Domingo
Managua Managua 14261 Anexo Las Sierritas Santo Domingo
Managua Managua 14262 Santa Mónica
Managua Managua 14263 Lomas De Santo Domingo
Managua Managua 14264 Sierritas De Santo Domingo
Managua Managua 14265 Sector Norte Sierritas De Santo Domingo
Managua Managua 14266 Urbanización Madrid
Managua Managua 14267 Acrópolis
Managua Managua 14268 Pedregal
Managua Managua 14269 Los Palmares
Managua Managua 14271 Germán Silva
Managua Managua 14272 16 De Marzo
Managua Managua 14273 Barrio Nuevo
Managua Managua 14274 Bosques De Santa María
Managua Managua 14275 Santa María De Los Lagos
Managua Managua 14276 Villas Gaudi
Managua Managua 14277 Sector Cuatro Esquinas De Esquipulas
Managua Managua 14278 Michelangelo
Managua Managua 14279 Entreverde
Managua Managua 14281 Altos De Las Colinas
Managua Managua 14282 Sector Oeste Comarca Esquipulas
Managua Managua 14283 Sector Esquipulas
Managua Managua 14284 Ermitas De Esquipulas
Managua Managua 14285 Vistas De Esquipulas
Managua Managua 14286 Sector Noreste Los Vanegas
Managua Managua 14287 El Cenicero
Managua Managua 14288 Los Vanegas
Managua Managua 14289 Sector Sur Esquipulas
Managua Managua 14291 Villanova
Managua Managua 14292 Berlín
Managua Managua 14293 Las Praderas
Managua Managua 14294 Paseo Del Prado
Managua Managua 14295 Villa Del Rosario
Managua Managua 14296 Alamedas Santo Domingo
Managua Managua 14297 Palma Real
Managua Managua 14298 Sector Norte Estancia De Santo Domingo
Managua Managua 14299 Estancia Santo Domingo
Managua Managua 14301 Sector Sur Altos De Santo Domingo
Managua Managua 14302 Altamonte
Managua Managua 14303 Palermo
Managua Managua 14304 Bosques Del Prado
Managua Managua 14305 Sector Sur Sierritas De Santo Domingo
Managua Managua 14306 Hadas Villas
Managua Managua 14307 Villa De Andalucía
Managua Managua 14308 La Arboleda Santo Domingo
Managua Managua 14309 Bosques De Santo Domingo
Managua Managua 14311 Quintas Del Valle
Managua Managua 14312 El Rodeo Santo Domingo
Managua Managua 14313 Haras De La Hoyada
Managua Managua 14314 Condesa 1 Y 2
Managua Managua 14315 Valle Blanco
Managua Managua 14316 Valle Azul
Managua Managua 14317 El Encanto 1 Y 2
Managua Managua 14318 Sector Oeste Comarca Santo Domingo
Managua Managua 14319 Bosques De San Isidro
Managua Managua 14321 Sector Sur San Isidro De La Cruz Verde
Managua Managua 14322 Monte Carlos
Managua Managua 14323 La Esperanza Jocote Dulce
Managua Managua 14324 Los Angeles Jocote Dulce
Managua Managua 14325 Sector Sur Jocote Dulce
Managua Managua 14326 Portal Del Bosque
Managua Managua 14327 Intermezzo Del Bosque
Managua Managua 14328 Balcones De Santo Domingo 2
Managua Managua 14329 Balcones De Santo Domingo 1
Managua Managua 14331 Sector Sureste San Isidro De La Cruz Verde
Managua Managua 14332 Jardines De Santo Domingo 2
Managua Managua 14333 Jardines De Santo Domingo 1
Managua Managua 14334 San Antonio Sur
Managua Managua 14335 Puertas Del Sol
Managua Managua 14336 Sacuanjoche
Managua Managua 14337 Valle Del Prado
Managua Managua 14338 Campo Bello
Managua Managua 14339 Las Palmeras
Managua Managua 14341 Los Geranios
Managua Managua 14342 Sector Norte Comarca San Antonio Sur
Managua Managua 14343 Sector Sur Comarca San Antonio Sur
Managua Managua 14344 Sector Este Comarca Candelaria Sur
Managua Managua 14345 Sector Oeste Comarca Candelaria Sur
Managua Tipitapa 15100 Master code
Managua San Francisco Libre 15300 Master code
Managua Mateare 15500 Master code
Managua Ciudad Sandino 15700 Master code
Managua El Crucero 16100 Master code
Managua Ticuantepe 16300 Master code
Managua Villa El Carmen 16500 Master code
Managua San Rafael Del Sur 16700 Master code
León León 21000 Master code
León La Paz Centro 22100 Master code
León Nagarote 22200 Master code
León Quezalguaque 22300 Master code
León Telica 22400 Master code
León Larreynaga 22500 Master code
León El Jicaral 22600 Master code
León Santa Rosa del Peñón 22700 Master code
León El Sauce 22800 Master code
León Achuapa 22900 Master code
Chinandega Chinandega 25000 Master code
Chinandega Chichigalpa 26100 Master code
Chinandega El Viejo 26200 Master code
Chinandega El Realejo 26300 Master code
Chinandega Corinto 26400 Master code
Chinandega Posoltega 26500 Master code
Chinandega Puerto Morazán 26600 Master code
Chinandega Villanueva 26700 Master code
Chinandega Somotillo 26800 Master code
Chinandega San Francisco del Norte 26900 Master code
Chinandega Santo Tómas del Norte 27100 Master code
Chinandega Cinco Pinos 27200 Master code
Chinandega San Pedro del Norte 27300 Master code
Estelí Estelí 31000 Master code
Estelí Condega 32100 Master code
Estelí Pueblo Nuevo 32200 Master code
Estelí San Juan de Limay 32300 Master code
Estelí San Nicolás 32400 Master code
Estelí La Trinidad 32500 Master code
Madriz Somoto 34000 Master code
Madriz Yalaguina 35100 Master code
Madriz Palacaguina 35200 Master code
Madriz Totogalpa 35300 Master code
Madriz San Lucas 35400 Master code
Madriz Las Sabanas 35500 Master code
Madriz San José de Cusmapa 35600 Master code
Madriz Telpaneca 35700 Master code
Madriz San Juan de Rio Coco 35800 Master code
Nueva Segovia Ocotal 37000 Master code
Nueva Segovia Mozonte 38100 Master code
Nueva Segovia Dipilto 38200 Master code
Nueva Segovia Macuelizo 38300 Master code
Nueva Segovia Ciudad Antigua 38400 Master code
Nueva Segovia San Fernando 38500 Master code
Nueva Segovia Santa María 38600 Master code
Nueva Segovia Quilalí 38700 Master code
Nueva Segovia El Jícaro 38800 Master code
Nueva Segovia Murra 38900 Master code
Nueva Segovia Wiwilí de Nueva Segovia 39100 Master code
Nueva Segovia Jalapa 39200 Master code
Masaya Masaya 41000 Master code
Masaya Tisma 42100 Master code
Masaya Nindirí 42200 Master code
Masaya La Concepción 42300 Master code
Masaya Nandasmo 42400 Master code
Masaya Catarina 42500 Master code
Masaya Masatepe 42600 Master code
Masaya Niquinohomo 42700 Master code
Masaya San Juan de Oriente 42800 Master code
Granada Granada 43000 Master code
Granada Diriomo 44100 Master code
Granada Diriá 44200 Master code
Granada Nandaime 44300 Master code
Carazo Jinotepe 45000 Master code
Carazo Dolores 46100 Master code
Carazo El Rosario 46200 Master code
Carazo Diriamba 46300 Master code
Carazo San Marcos 46400 Master code
Carazo La Paz de Carazo 46500 Master code
Carazo Santa Teresa 46600 Master code
Carazo La Conquista 46700 Master code
Rivas Rivas 47000 Master code
Rivas San Jorge 48100 Master code
Rivas Buenos Aires 48200 Master code
Rivas Potosí 48300 Master code
Rivas Belén 48400 Master code
Rivas Tola 48500 Master code
Rivas San Juan del Sur 48600 Master code
Rivas Moyogalpa 48700 Master code
Rivas Altagracia 48800 Master code
Rivas Cárdenas 48900 Master code
Boaco Boaco 51000 Master code
Boaco Camoapa 52100 Master code
Boaco Santa Lucia 52200 Master code
Boaco Teustepe 52300 Master code
Boaco San Lorenzo 52400 Master code
Boaco San José de los Remates 52500 Master code
Chontales Juigalpa 55000 Master code
Chontales Acoyapa 56100 Master code
Chontales Santo Tomás 56200 Master code
Chontales La Libertad 56300 Master code
Chontales San Francisco de Cuapa 56400 Master code
Chontales Comalapa 56500 Master code
Chontales Villa Sandino 56600 Master code
Chontales San Pedro de Lóvago 56700 Master code
Chontales Santo Domingo 56800 Master code
Chontales El Coral 56900 Master code
Matagalpa Matagalpa 61000 Master code
Matagalpa San Ramón 62100 Master code
Matagalpa Sébaco 62200 Master code
Matagalpa Terrabona 62300 Master code
Matagalpa San Dionisio 62400 Master code
Matagalpa Esquipulas 62500 Master code
Matagalpa Muy Muy 62600 Master code
Matagalpa El Tuma La Dalia 62700 Master code
Matagalpa Ciudad Darío 62800 Master code
Matagalpa San Isidro 62900 Master code
Matagalpa Matiguas 63100 Master code
Matagalpa Río Blanco 63200 Master code
Matagalpa Rancho Grande 63300 Master code
Jinotega Jinotega 65000 Master code
Jinotega San Rafael del Norte 66100 Master code
Jinotega San Sebastián de Yalí 66200 Master code
Jinotega La Concordia 66300 Master code
Jinotega Santa María de Pantasma 66400 Master code
Jinotega El Cuá 66500 Master code
Jinotega San José de Bocay 66600 Master code
Jinotega Wiwilí de Jinotega 66700 Master code
RAAN Puerto Cabezas 71000 Master code
RAAN Waspam 72100 Master code
RAAN Rosita 72200 Master code
RAAN Bonanza 72300 Master code
RAAN Siuna 72400 Master code
RAAN Prinzapolka 72500 Master code
RAAN Mulukukú 72600 Master code
RAAN Waslala 72700 Master code
RAAS Bluefields 81000 Master code
RAAS Corn Island 82100 Master code
RAAS Kukrahill 82200 Master code
RAAS El Rama 82300 Master code
RAAS Muelle de los Bueyes 82400 Master code
RAAS Nueva Guinea 82500 Master code
RAAS Laguna de Perlas 82600 Master code
RAAS El Tortuguero 82700 Master code
RAAS El Ayote 82800 Master code
RAAS Desembocadura de Cruz Río Grande 82900 Master code
RAAS Cruz del Río Grande 83100 Master code
RAAS Paiwas 83200 Master code
Rio San Juan San Carlos 91000 Master code
Rio San Juan San Miguelito 92100 Master code
Rio San Juan El Castillo 92200 Master code
Rio San Juan El Almendro 92300 Master code
Rio San Juan Morrito 92400 Master code
Rio San Juan San Juan de Nicaragua 92500 Master code

The Challenges Of Banking In Nicaragua

A Deterrent To Some – An Opportunity For Others.

Nicaragua banking laws are always in flux and changes are common. This is due to the fact the Nicaragua banking system is dependent upon the USA banking systems providing clearing house and transaction forwarding services. Basically the US Federal Reserve dictates what Nicaraguan banks can and can not do. Although there are ongoing efforts to reduce this dependency, for the foreseeable future nothing is expected to change.

So what does this mean for an investor in Nicaragua real estate or an entrepreneur planning on doing business in the country?

Each case is different… However, a rule of thumb for all transactions is the need for a clear paper trail detailing where money is coming from, and where it is going to. Likewise, the purpose of the transaction has to be clearly spelled out. This is not a problem for retirees purchasing a home. Nor is it a problem for an investor purchasing a business. But for transactions that are not as simple as a straight out, single payment purchase, there can be some challenging hoops to jump through.

In most cases, someone buying a lot will agree on a price, transfer funds to a US bank escrow account or to a Nicaragua lawyer. When confirmation of funds are in hand the sale is completed. Then the purchaser’s lawyer then registers his or her lot. The challenge, if it’s going to manifest itself, will appear when the new property owner wishes to construct a home or other building on the property.

I’m not talking about red tape hurdles. They exist, but are dealt with in due course and are little more than a hindrance. The challenge can be in paying for the necessary architectural and survey work, the buying of building materials, and paying a contractor and/or subcontractors. Every transfer of funds over US$10,000 is flagged and must meet specific disclosure rules and regulations. A succession of transfers under US$10,000 is usually identified as suspicious and flagged as well. I strongly advise against trying this tactic as it will great further problems.

If possible, it is best to have a very exact construction estimate and transfer the entire amount at one time, placing it with a local bank or lawyer. Both have to adhere to the same requirements though, so only which option is more comfortable is the deciding factor. This transfer will require the same reams of documentation, but once the compliance department at whatever bank is receiving the funds is satisfied, the funds are made available. If for some reason a transaction is not deemed kosher, the transfer of funds is reversed and the cash returns to where ever it originated from.

The issue gets complicated for people buying a lot and intending to build as funds are available. A once popular investment strategy, it is now a lot of work to manage… even for Nicaraguans living and earning abroad, then applying their income to the construction of a home in Nicaragua.

The same situation can thwart an entrepreneur wanting to build up a business in Nicaragua. Actually, it has in the case of a client of mine. If a property is to be leased or purchased, that is one transaction. If money is needed to do renovations, alterations or construct premises, that is another transaction, perhaps numerous transactions. All will need to be reviewed by the transacting banks, both in the USA and in Nicaragua. My client had a tight deadline so abandon his efforts to develop a business in Nicaragua because of the difficulty the banking system presents. At least 30 full time jobs and millions in investment walked away with him.

The banking process obviously stymies money laundering, but it does more to stymie legal development. However, there are a couple of solutions…

The first solution is to have a foreign bank guarantee a domestic loan for their client, basically cosigning a locally managed line of credit. The investor can draw on the cash locally and the investor’s own bank abroad pays off the amount each month. Interest in Nicaragua runs between 9% and 25% per year, so paying debt off as quickly as possible is recommended… even if that means borrowing abroad to do so.

A second solution is something a client surprised me with. Through his credit card issuer he set up a massive line of credit, and instructed his bank to pay any amount off that came due. He took out significant cash withdrawals to pay contractors and suppliers, and used his credit card to buy locally any building supplies, fixtures, appliances and so on that were needed. The transaction fees were less than the international bank transfer fees, and he had no need to declare credit card purchases because each transaction was well documented. Large cash advances did require some documentation, but it was enough to bring in facturas (invoices) that had to be paid. The invoices were very detailed, included the local value added tax, known as IVA, and clearly identified the recipient of the funds. It was a very smooth, and virtually problem free process.

If you have a building project or business acquisition that you may require advice on, feel free to contact Nica Investments.

One Man’s Loss Is Another Man’s Gain

Nica Investments LogoNica investments does not maintain “listings” of the same Nicaragua real estate offered for sale by every realty company or individual in the country. Nor does Nica Investments tack a sign on the wall of a house that already has one, two, three or even four other signs stating the obvious… this property is for sale and I want to be the person who sells it.

What Nica Investments does is locate well priced properties in ideal locations that our clients would do well purchasing. One such purchase opportunity is about to become available.

There are five adjoining lots in the initial phase of a subdivision that were previously considered sold. The term of the existing agreement to purchase is about to expire, and the seller has already moved on to phase two. They will be offered for sale at the end of this week.

The lots are on a paved road, are fully serviced, flat and ready to build on. The lots are about 58 meters deep and the approximate frontage of each is 30 meters.

The seller is asking US$34,900 per lot. However, he would be open to negotiating with a purchaser interested in buying all five lots. It is possible the seller would even consider a joint venture partnership with a developer willing and able to construct five homes. Assistance with marketing would be provided, and construction would have to begin within 60 days of an agreement being reached.

My personal recommendation to clients is to purchase all five lots at as good a price as can be negotiated, then resell them… with houses constructed on each. Why do I suggest this? Because this subdivision is not one of the pie in the sky developments that dot the Nicaragua landscape. All of the seller’s available lots in phase one are sold except for these five. Within the first phase there are already homes built and occupied, and others are under construction. These lots front a quality paved road, with water, electricity, and streetlights already in place… not promised and unfulfilled, as is so often the case in Nicaragua.

Soon the infrastructure for phase two will begin, and soon after the marketing of phase two lots will commence. It’s a sure bet that when prospective phase two purchasers start to drive past these few remaining phase one lots they’ll not last long.

To find past editions of the newsletter, as well as subscribe to future editions, visit Nica Investment Newsletters.

A Novel Way To Own A House In Nicaragua For $0

I was approached by a gentleman who asked me to represent him in the purchase of a property in Nicaragua. OK… that is what I do. So I laid out my standard terms, US$100 per diem plus expenses, one week paid in advance.

No problem!

Once retained, I asked what I’m to be tasked with. What follows is the most novel approach to getting a house in Nicaragua for free I’ve heard yet. I say ‘yet’, because this is not the first time a client has earned a house for free. The usual approach is for a client to buy land, subdivide, and then sell off enough lots to pay for the initial land purchase and construction of the client’s own home. Although this seems like a simple approach, and is pretty much a sure thing, it can take years to reach one’s goal. This client said he’d already sold seven of the eight houses. He’d live in the remaining home himself and it would be his for FREE.

Apparently my new client thinks outside the box. Read on to appreciate just how far out of the box he is…

Initially, I was asked to find land. It had to be large enough to accommodate four 1000 s/m lots. Done.

The next undertaking was to have the parcel subdivided. That’s in the works too.

At the same time, the preferred house plan is to be reworked by a Nicaragua architect to meet the code here and incorporate local construction materials and techniques. That too is already in the works.

The initial house plan is for very attractive duplexes, each side having three bedrooms, two bathrooms, large kitchen, dining area and living rooms, with space for a garage, atrium or dipping pool.

The Novelty Of This Approach

The architect is to provide my client with a list of building materials, mostly American standard plumbing fixtures, lighting fixtures, gas appliances, cabinetry, and so on that isn’t available locally, or is available but cost prohibitive. All of the items on the list, up to US$45,000 per house, will be imported duty free using an incentive available to pension retirees applying for residency status. All of the new home owners are over 45 years old obviously, and qualify to take advantage of a one time importation of building materials duty free.

It seems my client had done his research. As the ‘general contractor’ he expects to be able to build his home and own his parcel of land for free. He will collect US$70,000 per dwelling, and expects the entire development to cost less than US$490,000. My preliminary number crunching, which includes the cost of materials purchased abroad, shipping of the eight containers, construction and land acquisition appear to make this dream a reality.

An added plus is that each new resident is able to import a vehicle with a value up to US$25,000, provided it is less than ten years old, and US$20,000 worth of personal household items. The car can be sold after 5 years without any penalties.

Another of my duties will be to monitor the importation of both the building materials and household furnishings, then arrange inland transportation to the building site. I understand the new homeowners are going to be driving their vehicles to their new homes, which will be completed and fully furnished when they pull into their driveways for the first time.

This is actually going to be a fun project. I’m sharing it because I would like to work with similar groups to do the same thing.

If you wish to discuss any sort of investment in Nicaragua, please contact us.

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Banking In Nicaragua – SWIFT Codes

SWIFT Code logoA key element of investing in Nicaragua is paying for an acquisition. Also, if it is a business being purchased or a new business being established, funds will need to be transferred to the business bank account. Fortunately, funds can be transferred to banks in Nicaragua from anywhere in the world using SWIFT codes. Most major banks use SWIFT codes.

SWIFT code is a standard Bank Identifier Code (BIC). Each bank has a unique identification code that is used when transferring money from bank to bank, especially in the case of international wire transfers.

A SWIFT code consists of eight (8) or eleven (11) characters. If only 8 digits are given, the code refers to the primary office. The SWIFT code format is: AAAA BB CC DDD

AAAA – Four characters denoting the bank code, letters only.

BB – ISO 3166-1 alpha – 2 country code, letters only.

CC – location code, letters and digits. (Note: passive participant will have “1” as the second character)

DDD – branch code, used only if applicable, letters and digits.

There are over 40,000 “live” SWIFT codes. A “live” code is the SWIFT code issued to a partner bank that is connected to the SWIFT network. There are more than 50,000 additional code used for manual transactions. These additional codes are for the passive participants. The number naturally fluctuates as new banks open, other’s close, banks merge and/or banks join or leave the SWIFT code partnership.

SWIFT Code registrations are managed by the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”), which is headquartered in La Hulpe, Belgium.

Below are the SWIFT codes of Nicaraguan banks connected to SWIFT network. The passive participant’s codes are not included in the list.



If you have any questions about SWIFT codes contact your bank, or contact Nica Investments.

How I’m Giving Back To Nicaragua

I don’t think I’ve shared my story as to why I’m in Nicaragua in the first place, nor why I’m so positive about this nation’s future. A brief history…

I was traveling from Canada, via a flight to Mexico City, then overland to Montanita, a town on the Santa Elena Peninsula in Ecuador that’s known for its surf beaches and bohemian vibe. A friend and client wanted to purchase a small beachfront, surf resort for his daughter and asked me to go scout out some options. I decided to take my time and make it a vacation/business trip since I wasn’t on a deadline. This turned out to be a bad idea that eventually ended well.

I was robbed in Honduras by four banditos, right at the frontier. Long story made bearable… I didn’t win the day but I did damage one of my assailants and his friends fled. I left Honduras, entered Nicaragua, and the next day informed the Canadian Embassy of what happened. I worried I’d caused a minor international incident. The embassy informed the Honduras government I was available should they wish to talk with me, and asked that any inquiries go through official channels… nothing ever came of it.

I was expected to stay in Managua until money, credit and debit cards, and documents that were stolen could be replaced. I was not enjoying my time in Managua, so I contacted a travel writer friend who has spent a lot of time in Central America. He suggested I head to Granada, assuring me that since I liked Antigua, Guatemala, so much I’d enjoy its Nicaragua sister city. I was in Granada only a couple of days before I realized I could live stress free, affordably, and make some money if I stayed. Other than visa runs I’ve been here since July 26, 2014. My client and friend had a heart attack and passed away soon after I arrived in Nicaragua. Since I was no longer committed to go to Ecuador I started looking at opportunities within Nicaragua.

Mombacho volcano seen from Lake NicaraguaI discovered Nicaragua was very pro foreign investment, especially in the tourism industry. I’ve done reasonably well in Nicaragua, and the Nicaraguan people I’ve met are wonderful. Appreciative, I decided to give something back. Through the two hotels I have interest in, Hotel de Sonrisas and Hotel La Calzada, I’ve started a program in which the children of single mothers can attend English classes at a private school. Tourism is the industry with the greatest employment opportunities, and it’s already the nation’s second largest employer after agriculture. However, to be deemed employable by tourism industry businesses, a Nicaraguan needs to speak some English. Most do not because it’s not a subject offered in public or church run schools. Solution, offer the opportunity to learn a second language myself. Classes started this past week for a handful of kids. More enrollments will follow with new students being added each 3 month semester.

At the moment this is an on the books scholarship or sponsorship program funded by the two hotels. We will later offer those children that stick with the courses an internship, maybe even permanent employment. If I calculated the need correctly, the demand for English speaking young people in the industry may make it necessary to increase pace and seek funding. We’ll see.

A second means of giving back… I’ve adopted as my cause assisting the local hospital with basics; bedding, pillows, equipment, etc. I had a mild stroke brought on by soft tissue swelling from an inner ear infection. Most expats, myself included, go to private clinics and hospitals. However, the closest hospital was not one of these. Known as the Japanese Hospital because it was Japan that build it for the Nicaraguan people, I was admitted, treated and released to the care of my personal doctor. The entire process cost me US$192.00 and I’ve made a 99% recovery. My right ear and the surrounding area have limited feeling, and although no one else seems to be able to see it, I swear I have some disfigurement around my right eye.

I did not notice much when I was a patient, but later I had occasion to visit a hotel guest in the same hospital. I was shocked to find that there were no pillows, few sheets for the beds, and very little in the way of incidentals needed by staff to do their jobs at peak efficiency. Apparently everything was stolen by patients, visitors and staff over time. Petty theft is a problem in poorer countries, and Nicaragua is no different. Anyway, once I’ve worked out with hospital administration what they need and how they intend to thwart future thefts, the plan is to seek donations of whatever it is the hospital needs and have it shipped in.

My reason for sharing my personal story and the causes I support is to highlight how little effort and money it takes to make a huge difference in this country. It’s the same with investing. A small investment in any business venture that creates jobs will have a positively impact on the lives of employees and their families. This is why foreign investment is sought by the Nicaraguan government, and why the country’s leadership is so pro business.

Opportunities are abundant here, so there is something for everyone and every budget. For more information contact Nica Investments.

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