Working in Managua?
Working in Managua
Managua is the industrial hub of Nicaragua and the economic center of the country. The city accommodates a large number of international corporations, with the operations offices of companies such as Walmart and Telefonica situated in the city's bustling business district.
The steadily increasing holiday interest in Nicaragua has led to tourism becoming the second most profitable industry in the country. This boom in tourism has affected many areas of Managua's economy, from the agricultural and finance industries, to local markets and the sale of traditional handcrafts.
As of 2014, real estate prices in Managua reached an all-time high, thanks to the surge of foreigners relocating and retiring to the city. Managua is estimated to generate at least 30% of the country's 20.04 billion USD GDP.
Job Hunting in Managua
There is a great selection of resources available, both in print and online, to help job seekers find gainful employment in Managua. There are regularly updated vacancies in a range of sectors on popular websites such as Managua Craigslist. As well as this, local newspapers like El Nuevo Diario and Le Voz de Nicaragua are distributed throughout the city and provide extensive job sections which advertise the latest and most sought after work positions.
It can also be helpful to continually check the official government website of Nicaragua, as work in embassies often comes available. These positions can be anything from security to office admin or even diplomatic work. Native English speakers are particularly sought after, too, and this is a good option of employment for expats.
Income Taxation in Managua
Individuals are taxed on their income by a progressive, means based tax rate. The amount of taxation can vary and is calculated by yearly earnings and cost of living - the highest rate of income tax in Managua is 30%. Any income earned by non-residents in Nicaragua is subject to a 20% tax rate; however foreign retirees are exempt from paying any taxes while living in the country. Married couples are required to file their own separate tax returns. Further information can be obtained from the Nicaraguan Ministry of Finance and Public Credit (website in Spanish).