Border properties. Nicaragua.

When can a Border Real Estate be acquired by a foreigner?



According to law 749 "Law of Legal Regime of Borders" the border territory is classified into three border areas:

1. Border Development and Integration Zone: it is the area of the national territory, comprised from the conventional border limit and fifteen kilometers (15 km) into the interior of the national territory.

2. Border Security Zone: it is the inalienable area of the State of Nicaragua, comprised from the conventional border limit and five kilometers (5 km) into the interior of the national territory, and that in accordance with this Law is subject to a special regime.

3. Special Border Protection Zone: it is the area of the State of Nicaragua, understood from the conventional border limit and fifteen kilometers (15 km) into the national territory, in which there are indistinctly protected areas, indigenous peoples, communities ethnic and Afro-descendants or strategic facilities for the security and defense of the State of the Republic of Nicaragua; and that are regulated by special regimes.

Transfer of real estate in border areas.

Real estate in the private domain, located in the Border Security Zone, is transferable, for consideration or free of charge, only in favor of Nicaraguans, in accordance with legitimately acquired titles, as long as they are registered or re-registered in the corresponding Public Registry.

Foreign natural persons and foreign legal entities may not, in fact, or by law, acquire real estate in the Border Security Zone in any way, with the exceptions related to concessions or lease authorizations granted by the Executive Branch through Presidential Agreement, when there is public or social interest, in accordance with this Law, or special laws.

National legal entities with registered shares with Nicaraguan partners, duly registered, whose shares cannot be transferred or endorsed to foreigners, may acquire real estate in the border security zone for productive investments for sustainable development.

In short, within 5KM from the conventional border limit towards the interior of the national territory, foreigners cannot acquire real estate.

Prepared by Msc. Marlon José Blandon Argeñal.

Real Estate Lawyer & Notary.

(505) 88653362

Ubicación: Granada Nicaragua Granada, Nicaragua

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