Nicaragua offers terrific incentives for those thinking about living or opening a business in this wonderful country. For example, property taxes are low, foreign retirees pay no taxes on any out-of-country earnings, can bring into Nicaragua up to $20,000 of household goods duty-free, may import one automobile duty- and tariff-free (up to $25,000) and will be exempt from sales tax for purchase of up to $50,000 in home construction materials. To be eligible, you only need to be over 45 years of age and have a monthly pension income of $600 or stable income of $750. Similar incentives are found for foreigners interested in starting business ventures. More details can be found in the summary of Law 694, enacted in 2009.