Salsero33
7/27/2011 12:38 EST
I am a US citizen and am planning on moving to Nicaragua next year. I have been there several times and love it. I tried to open a bank account and was told that as an American I can not open an account in Nicaragua. How do expats handle finances and is there a way to open a bank account there?
Post a Reply
 0 0 abuse
|
|
cutecaroline
7/28/2011 17:21 EST
Hi There!
I think one of the easiest ways to open a bank account in Nicaragua if you are planning on relocating permanently is to form a corporation or (Sociadad Anonima).
It may cost you around 200.00 to do the paperwork but it will be well worth it to avoid the hassles of opening any type of banking accounts. With your SA you will then be entitled to do business with banks with a minimum amount of hassle.
Post a Reply
 0 0 abuse
|
|
|
|
RBRMechapa
8/4/2011 16:04 EST
Yes, a S.A. is the way to go. You'll need a decent amount of documents and recommendation letters and it is well worth it. You'll receive a RUC number (a Cedula for your busines).
Post a Reply
00abuse
|
|
bushamy13
8/4/2011 20:09 EST
I can only speak for the main expat areas of Granada and San Juan del Sur.
If you become a resident you open as many bank accounts as you wish. It is a good idea anyway to enjoy more privileges such as the many benefits of being a pensionado here. You only to have to be 45. More info on my website at www.nicaragua-guide.com.
If you do not wish to be a resident your USA or other country bank cards will work at most ATMs here though you may be limited to $500 a day. If you just arrived and want to open a bank account anyway, BANCentro will accomodate you in Granada. You just need a Nica to make the introduction and two additional letters of reference from residents or citizens. We do this all of the time for friends and associates. In San Juan del Sur I opened a bank account at BDF bank with two letters of reference. Neither of the references knew me but were happy to sign and help.
Hope this helps.
Darrell
Post a Reply
00abuse
|
|
majicjack
8/11/2011 14:13 EST
It doesn't cost you except what you need to deposit in the bank to open an account. I had an account before I had mu cedula an know many more here that have the same thing. Just find someone that knows a banker and you are in. Anyone tries to tell you that you have to pay money is lying. Don't worry, there are plenty here that will take your money if you let them. Stay away from lawyers. The are the worst.
Post a Reply
00abuse
|
|
cutecaroline
8/12/2011 12:05 EST
I wanted to make myself clear. I am not suggesting that the ONLY way to open a bank account in Nicaragua is to form an SA. I am suggesting that it is one of the EASIEST ways. I recommend it for folks that are planning to live in Nicaragua long term and will be using various services such as utilities, telephone etc. I have found personally that almost any transaction that normally involved tons of referrals and or paperwork took a fraction of the time when I presented my Cedula from my SA. It is merely a hassle free way to do business in Nicaragua. It is certainly NOT the only way. When you are brand new to a city and you don't have any "connections" it is very difficult to find people you can trust to help you with personal things such as banking. In most Central American countries, its not "who" you know but "how" you know them. Foreigners have been known to scam other newcomers too by offering to help them get situated. And by the way, I am not a lawyer, nor do I work for one.
Post a Reply
00abuse
|
|
|
|
